In February, we profiled Blue Rhino Corp.’s efforts to get ready for the Sarbanes-Oxley Act (“Better Safe than Sorry,” CIO Insight, February 2004). At the time, the company was concerned that its aggressive SOX compliance initiative would artificially constrain business and slow its growth. In April, the company merged with Ferrellgas Partners LP, whose annual revenues are four times that of Blue Rhino. Clearly, growth hasn’t been a problem.
And neither has SOX compliance, apparently. Blue Rhino CIO Bob Travatello reports that his company has opened its doors to independent auditors who will test financial controls and processes, well ahead of its July 2005 compliance deadline. Experts estimate that nearly 80 percent of businesses are still struggling to comply.