SAP Pushes Compliance as Strategy
SAP
The solutions build on existing SAP solutions, as well as applications that
The first solution, called GRC Repository, will allow companies to document
Doug Merritt,
The second solution, GRC Process Control, automatically aggregates business
The software will integrate automated control monitoring for SAP and non-SAP
“It allows companies to manage hugely heterogeneous landscapes,” noted
The third component of the offering, GRC Risk Management, helps enterprises
Merritt said the solution will help risk managers and business owners
The key to all three solutions, the company said, is that they give
“GRC is more business-driven than just keeping the CEO out of jail,” said
Amit Chatterjee, senior vice
More specifically, Chatterjee said that GRC solutions can help companies
SAP GRC Repository and SAP GRC Process Control will be generally available
SAP GRC Risk Management will ship in December. All three products will
SAP has grouped development of all compliance-related solutions, including
Several solutions in the compliance portfolio, such as GTS, have been
Other solutions, particularly those pertinent to industry verticals, will
Merritt said that Cisco's architecture, based on SOA
The companies will leverage Cisco's networking architecture to allow
Paul McNab, vice president of enterprise marketing for Cisco, noted that
“Business process managers are sitting at the center of the enterprise,” he
Charles King, principal analyst at Pund-IT Research, told internetnews.com that one of the
King also said that risk management is currently top of mind for
According to Chatterjee, market research firm IDC has pegged the market for
Chatterjee said that SAP doesn't break out revenues by segment, but said Michael Singer is a career coach, podcast host, and author to help you step into a career you're excited about. Currently, He is a coach and trainer helping entrepreneurs and executives achieve business and leadership success. He is also an award-winning business journalist focused on the intersection of technology, Big Data, Cloud, SaaS, SAP, and other trending technology. 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.
SAP acquired when it purchased compliance solutions vendor Virsa in May.
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.
executive vice president and general manager of suite optimization products
and technology at SAP, said that consultants in the compliance arena, regulatory bodies and
other vendors will also be able to contribute to this repository.
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.
applications.
Merritt.
implement collaborative risk-management processes.
identify financial, legal and operational risks, analyze business
opportunities in light of these risks, and develop appropriate responses.
line-of-business executives greater visibility of how governance and risk-management policies are implemented and followed in the course of doing
business.
Effective GRC management can do more than ensure that companies are in
compliance with Sarbanes-Oxley and other regulations, said Merritt.
Merritt in response to a question from internetnews.com during
a conference call this week.
“Understanding the relative risks and rewards of different activities is as
critical or more critical than regulatory reporting,” he said.
president of the risk and compliance management unit at SAP, said that whatever can be monitored can be managed. “GRC can become a strategic weapon, not just a cost-laden compliance issue.”
reduce cost and make more informed strategic decisions.
Nov. 30.
be sold individually.
earlier applications such as Global Trade Services (GTS) and Risk
Terminator, under the GRC umbrella.
already rolled into the GRC Repository, Chatterjee said.
become part of the new solution during the second quarter of next year.
SAP also announced that it is bringing these products to market jointly with
networking solutions vendor Cisco Systems .
interoperability.
business executives to actively administer network events.
corporate networks have become an integral part of strategy and compliance.
said. “It's been a long-term goal to have business managers able to set
policies for the network.”
prime benefits of SOA is the ability to tailor applications to meet the
specific needs of workgroups and business units.
business executives, a fact noticed at SAP.
GRC solutions at around $20 billion.
that “these are significant opportunities.”
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