Says Two Stepâs President and Founder, Gary D. Levine, âIn the current post-Enron, Sarbanes-Oxley business environment, more and more of our customers are finding that senior management, boards and investors are increasingly concerned with corporate governance issues, especially after the recent stock option backdating scandals. Our customers are telling us that good corporate governance is a prerequisite for doing business in this new environment. In fact, many tell us that just the fear of an error in their records or missing a legal document has the potential to slow down business deals and investments, if not cancel them altogether.â
With all of the media attention to stock options in 2006, experts have noted that the integration of corporate governance records and stock option tracking is more important than ever. As Levine observes, âWhereas previously companies were satisfied with having their corporate entity and capitalization records in separate systems, what weâre hearing today is that they need full integration to create digital audit trails, improve records management, and help prevent fraud.â
Interestingly, Levine notes that Two Step is hearing this from all types of companies, regardless of size or market, law firm or high-tech startup, public or private. They are increasingly concerned with corporate governance issues and avoiding the kinds of tax and accounting problems that arise from the complexity of stock and option management.