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SAP AG Introduces New Capabilities in Two SAP BusinessObjects Governance, Risk and Compliance Solutions

Originally published July 1, 2009

SAP AG recently introduced new capabilities in two SAP BusinessObjects governance, risk and compliance (GRC) solutions that promote automated, unified risk management and compliance strategies. Available today, new versions of the SAP BusinessObjects Risk Management and SAP BusinessObjects Process Control applications give customers the clarity required to help ensure that the right controls are in place, helping them to both comply with government regulations and manage business risks. This holistic view will help customers take a preventative approach to risk and be better protected against future vulnerabilities caused by rapidly shifting conditions. The new SAP BusinessObjects GRC solutions are also embedded with SAP BusinessObjects business intelligence (BI) solutions, enabling greater transparency across customers' organizations and helping them to develop smarter, more risk-aware business strategies.
Risk managers and auditors face a serious challenge: they lack real-time, unified visibility across the various business units. Traditionally, they monitor risks and assess controls via manual processes, such as surveys and spreadsheets sent on an annual or quarterly basis, to help them comply with and support specific regulations or corporate initiatives. But risk is not a static, predictable event. Companies today require an ongoing and automated way to identify risks and test controls continuously, and to quickly aggregate that data into a comprehensive, enterprise-wide picture. With the solutions SAP announced today, customers can enact continuous monitoring of business risks and internal controls. Customers' ability to make risk management an ongoing process will help ensure fewer surprises and more sound business practices. For example, recent product recalls have cost companies both money and reputation. But SAP BusinessObjects GRC solutions can help companies make sure the right controls are in place to help them identify and resolve product quality issues before they put both the public and the company at risk.
"The latest SAP BusinessObjects GRC solutions further showcase their unique vision, which ensures that GRC is integrated into the core business processes and applications - and is not simply an afterthought," Michael Rasmussen, president, Corporate Integrity. "With a holistic approach to real-time monitoring of key risk indicators and controls, organization can manage their business proactively and strategically, rather than reactively. And a more comprehensive risk management strategy is key to improving corporate performance. Customers ability to automatically test and monitor these processes can deliver significant cost and efficiency savings."
To read full press release, click here.

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