Download the authoritative guide: Cloud Computing 2019: Using the Cloud for Competitive AdvantageSAP (Quote, Chart) wants companies to think of governance, risk and compliance (GRC) management in strategic terms.
The leading vendor of enterprise software, based in Walldorf, Germany, introduced an integrated set of solutions to help enterprises manage their GRC issues.
The solutions build on existing SAP solutions, as well as applications that SAP acquired when it purchased compliance solutions vendor Virsa in May.
The first solution, called GRC Repository, will allow companies to document and maintain GRC information, such as corporate policies, board of director minutes, regulations, compliance, control frameworks and key business processes in a central system of records.
The second solution, GRC Process Control, automatically aggregates business process risks for the entire enterprise, provides supporting evidence of compliance, pinpoints control violations to prioritize corrective action and prevents material weaknesses from developing and persisting.
The software will integrate automated control monitoring for SAP and non-SAP applications.
"It allows companies to manage hugely heterogeneous landscapes," noted Merritt.
The third component of the offering, GRC Risk Management, helps enterprises implement collaborative risk-management processes.
Merritt said the solution will help risk managers and business owners identify financial, legal and operational risks, analyze business opportunities in light of these risks, and develop appropriate responses.
The key to all three solutions, the company said, is that they give line-of-business executives greater visibility of how governance and risk-management policies are implemented and followed in the course of doing business.