Artemis improves Corporate Governance with new Enterprise Portfolio Management Software

Artemis 7 Corporate Governance Solutions Provide Executive Transparency to Corporate Assets and Investments as Directed by Sarbanes-Oxley NEWPORT BEACH, Calif., August 5, 2003 – Artemis International Solutions Corporation (OTCBB: AMSI), a leading global provider of enterprise portfolio, project and resource management software solutions, today announced its new enterprise portfolio management software, Artemis 7. Designed to provide operational transparency to corporate CxOs across the globe, and enabling executives to address corporate governance requirements from the top down, the Artemis 7 management framework provides immediate visibility into corporate assets, capital investments and all related transactions. With corporate governance impacting companies around the globe and deadlines bearing down on all corporations publicly traded in the United States as mandated by the Sarbanes-Oxley Act, Artemis 7 provides executives with a system for designing or supervising the development of internal controls and procedures. The software provides a critical level of visibility into the acquisition, development and disposition of corporate assets, as Sarbanes-Oxley now requires. Executives will have actionable processes and the information necessary to balance operational activity with financial reporting. "Sarbanes-Oxley requirements have changed the priorities of corporate executives. A shift has taken place that mandates immediate disclosure and accountability for decisions made that impact financial reporting,” said Mike Rusert, president and CEO, Artemis. “Through Governance Dashboards and automated alerts, Artemis 7 provides operational transparency at the fingertips of the CxO. This allows executives to prioritize and monitor corporate assets over their complete lifecycle, from inception through measurement of on-going benefits, to final decommissioning.” Artemis 7 enables executives to assess their overall capital needs and improve capital allocation and align thresholds for risk with strategic opportunities. Further, operational surprises, potential losses and deviations from processes can be identified across the enterprise and minimized. This provides for the early detection of material events and helps to assure immediate public disclosure. In addition, Artemis 7 fosters efficient collaboration among executives and between divisions, departments, operations and project teams, by automating management processes to improve decision-making and capital allocation. Artemis 7 interfaces with existing transactional systems, such as ERP and CRM, to tightly link management processes and decisions with day-to-day business activities. “Governance compliance is not just a requirement for IT projects, but rather, spans across all corporate assets and investments,” said Robert Stefanovich, CFO of Artemis. “The letter and spirit of recently enacted legislation mandates effective governance of both the financial transactions of a corporation and how it links growth, risk and return to preserve value and manage value creation.” Rusert adds, “Consider the magnitude of financial investments that a Fortune 1000 company initiates on an annual basis – it’s staggering. Artemis 7 allows executives to prioritize the corporate portfolio of assets and initiatives, track current status directly from operational units, identify business risks early, understand the impact of change and make better decisions faster." Concurrent with the release of Artemis 7, the company is formalizing a series of industry specific solutions. Each solution configures Artemis 7 to address specific management processes. “Artemis 7 is an incredibly powerful and flexible system. The fastest, most valuable way to deliver this power is through a solutions approach where the software application is tuned to the needs of a specific industry or business function to address processes that can provide immediate benefit," added Rusert.

Artemis 7 is a scalable, web-based software that includes the following features that address corporate governance:

• Governance Dashboards, automated alerts and configurable reports, which enable executives to observe all levels of the organization to supervise and control corporate assets and investments with an integrated picture of risk and return;
• Portfolio management analytics, to optimize prioritization of new investments, review the value of existing investments and monitor operational execution;
• Process management, to authorize, control and manage the entire lifecycle of each asset or investment and foster collaboration across the enterprise;
• Program and project management, for top-down planning and monitoring of work to the level of detail needed to ensure effective control and governance;
• Resource management, to plan and optimize resource and capital allocation across all authorized enterprise activity;
• Performance monitoring of actual usage against budget, plan and forecast, for early warning of material events that may impact financial reporting;
• System interfaces, to support integration with transactional systems, extending the scope of governance and control down to day-to-day business activities.

Artemis 7 is immediately available and runs in a web-based architecture that supports a broad range of computing platforms.