SAP AG has introduced new capabilities in two SAP BusinessObjects governance, risk, and compliance (GRC) solutions that promote automated, unified risk management and compliance strategies. New versions of the SAP BusinessObjects Risk Management and SAP BusinessObjects Process Control applications help ensure that the right controls are in place, helping users 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. 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 new versions of SAP BusinessObjects Risk Management and SAP BusinessObjects Process Control also empower business users to embed risk management into existing business processes and divisions. Now risk managers and auditors can easily build controls and key risk indicators that monitor the business environment, helping to prevent problems and promote the effectiveness of existing systems. This is a faster and more cost-effective way to make sure that risk monitoring is automatic and ongoing.
This latest release of SAP BusinessObjects GRC solutions embeds SAP BusinessObjects BI solutions, enabling simplified reporting, dashboarding and analytics. For risk and compliance programs to succeed, business users across the company must have access to risk information. Integrating SAP BusinessObjects BI solutions provides a powerful way to share this data via reports and interactive dashboards. Now business users can easily create, customize and distribute a report from Crystal Reports software or a dashboard from Xcelsius software to highlight a potential problem. Leveraging technologies like Xcelsius to build "heat maps" offers companies a visually powerful way to demonstrate trouble spots, such as supply chain disruptions and its potential financial impact.