Security compliance automation company Scytale said Wednesday it has acquired AudITech, a provider of Sarbanes-Oxley IT general controls (ITGC) automation solutions.
Financial terms of the deal weren’t disclosed. AudITech co-founders Eli Edry, the company’s CEO, and Roni Beeri, its chief operating officer, will become part of the Scytale team, and AudITech’s core solutions will be integrated into Scytale’s Enterprise suite.
The AudITech platform seamlessly 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 workpapers.
This acquisition will enable Scytale to offer a variety of security, privacy, and artificial intelligence compliance automation for standards like SOC 2, ISO 27001, and now SOX ITGC in one platform.
SOX ITGC compliance ensures that a company meets the IT control requirements outlined in the SOX Act. It focuses on implementing and maintaining effective ITGCs to support the integrity, accuracy, and security of financial reporting systems.
A recent survey that polled 200 IT security professionals cited that 44% face difficulty complying with cybersecurity legislation because of “complexity” and “time consumption”.
Scytale said it now offers a smarter way to achieve SOX compliance 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. 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,” Meiran Galis, founder and CEO of Scytale, said in a statement. “Together, we’re delivering unparalleled technology capabilities that enable enterprises to smartly manage SOX audits and fully automate ITGC controls with confidence and efficiency. From early-stage startups to publicly traded companies, Scytale is the only complete compliance hub.”
Known for its robust and unique SOX ITGC automation platform, AudlTech has high-profile customers such as Monday.com, Fiverr, ICL Group, and Pagaya, helping them maintain SOX ITGC audits, streamline IT internal controls, track real-time deficiencies, and automate ITGC report generation.
“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.”
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