Rexel selects BWise to manage its internal control and the follow up on its audit action plans
‘s-Hertogenbosch, Netherlands and New York, NY, June 25th, 2012 - BWise, a NASDAQ OMX company and a global leader in Governance, Risk and Compliance (GRC) management software, announced today that it was selected by Rexel (EURONEXT: RXL). Rexel is a global leader in the distribution of electrical products and services. The company selected BWise for the periodic assessment of its internal control system and the follow up on its audit action plans.
In order to support its projects focused on the evolution of its internal control and internal audit initiatives, Rexel began a selection process for a new GRC solution that ultimately resulted in the selection of BWise. Stéphane Very, Director of Internal Control at Rexel explained, “We were looking for a reliable and flexible solution to meet our current needs and also enable us to support the developments that we have planned in the short and middle term. The powerful functionalities of the BWise platform and its reporting capabilities were crucial for Rexel. The user-friendliness of the software was a decisive criterion in our choice, due to the importance of the acceptance of the solution by employees.”
BWise® Internal Control, a part of the integrated GRC Platform, was developed to support the financial reporting compliance process, to ensure continuous compliance with accounting rules, regulations like Sarbanes-Oxley and corporate governance guidelines. Starting from documentation, and following through with testing, design and operating effectiveness, the assurance of appropriate financials is guaranteed.
Stéphane Dorchin, Director France at BWise, said, “The expertise of the Rexel teams as well as the great maturity and ambition of their project match perfectly with our vision and the rich set of functionalities offered in our software platform. Rexel’s experience working with another tool enabled us to quickly focus on the improvement points and the main aspects of their methodology.”
Rexel, a global leader in the distribution of sustainable and innovative products and services for automation, technical supply and energy management, addresses three main markets - industrial, commercial and residential. The Group supports customers around the globe, wherever they are, to create value and run their business better. With a network of some 2,200 branches in 37 countries, and over 28,000 employees, Rexel’s sales were €12.7 billion in 2011. Its majority shareholders are an investor group led by Clayton, Dubilier & Rice, Eurazeo and BAML Capital Partners.
Rexel is listed on the Eurolist market of Euronext Paris (compartment A, ticker RXL, ISIN code FR0010451203). It is included in the following indices: SBF 120, CAC Mid 100, CAC AllTrade, CAC AllShares, FTSE EuroMid, FTSE4Good, STOXX600, ASPI Eurozone and MSCI Europe.
For more information, visit Rexel’s web site at www.rexel.com