Scytale, a provider of trust and security compliance automation, has acquired AudITech, a provider of Sarbanes Oxley (SOX) IT General Controls (ITGC) automation.
The AudITech solution integrates with a company’s IT General Control system and audits all controls and populations daily. It continuously monitors for deficiencies and automatically generates comprehensive audit evidence and working papers. This acquisition will enable Scytale to offer a range of security, privacy, and AI compliance automation for standards like SOC 2, ISO 27001, and now SOX ITGC in one platform.
SOX ITGC compliance ensures that a corporate entity meets the IT control requirements outlined in the Sarbanes-Oxley (SOX) Act. It focuses on implementing and maintaining effective information technology general controls (ITGCs) to support the integrity, accuracy, and security of financial reporting systems.
A recent survey of 200 IT security professionals cited that 44% of cybersecurity professionals face difficulty complying with cybersecurity legislation because of “complexity” and “time consumption”.
Scytale’s response to SOX compliance is through ITGC automation and an advanced audit management system, allowing organizations to streamline complex compliance processes while reducing costs, duration, and risks.
“Scytale’s mission has always been to simplify and streamline security and privacy compliance for companies at every stage of their growth,” founder and CEO Meiran Galis said. “The AudITech team has done an amazing job building an exceptional product and customer base. By bringing AudITech into the Scytale family, we are doubling down on that promise. Together, we’re delivering unparalleled technology capabilities that enable enterprises to smartly manage SOX audits and fully automate ITGC controls with confidence and efficiency.”
AudITech co-founders Eli Edry (CEO) and Roni Beeri (COO) will become part of the Scytale team. AudITech’s core solutions will be integrated into Scytale’s Enterprise suite.
“We all rely on information technology daily, making IT internal controls a vital part of running a business with all stakeholders aligned and in trust. This collaboration goes beyond merely integrating complementary products that support companies from their early stages to post-IPO,” said Edry. “It represents a partnership between two companies with shared missions, dedicated to making IT compliance easier, intuitive, and a key part of enterprise success. We are excited to join Scytale.”
