by Bruce McCuaig
In the modern business environment, companies are often required to do more with less, while also navigating constantly shifting regulatory and technology frameworks. Given that reality, the need for a comprehensive solution for governance, risk management and compliance has never been greater. Such a solution can improve business performance, protect your company’s reputation and financial well being, while reducing GRC complexity. If you’ve hesitated to implement a next-generation solution for your GRC procedures and infrastructure, you’re missing out on a variety of opportunities for boosting GRC optimization, oversight and accuracy.
The Unification of GRC
Next-generation solutions like SAP’s GRC aim to holistically integrate every facet of effective GRC. This task often involves coordinating hundreds of departments and employees, and requires a robust, dependable software framework to support the effort. However, the dividends are wide-ranging and dramatic, with the potential for performance boosts in every entity tied to GRC.
With a focus on operating from unified central databases, SAP’s GRC solutions let your entire organization collaborate with unparalleled accuracy, seamlessly integrating efforts for everything from access governance to audit management and fraud detection. By jettisoning obsolete, fragmented workflow silos that can make it impossible to form a unified GRC picture, SAP’s solutions let your organization work from the same page while contributing to the overall GRC effort.
SAP Embodies Its GRC Solutions
SAP uses its own GRC solutions to manage its operations around the world. Miriam Kraus, senior VP of GRC at SAP, said, “We wanted to achieve the benefits of integration and automation throughout our worldwide GRC landscape, as well as accurate risk data produced in real time at a lower cost.”
At face value, the task was monumental for an organization as large as SAP, involving support for more than 68,000 users across 580 separate organizations in 100 countries over two years. But working with a team of in-house consultants, SAP was able to complete the implementation on time and under budget, garnering it a prestigious GRC 20/20 Value Award.
Because of the new SAP GRC solutions framework, SAP saw significant improvements in GRC metrics, including the following:
- A 100 percent accuracy rate for control testing and remediation
- Control testing that is 90 percent faster than before
- A 20 percent gain in data maintenance efficiency
- A 30 percent increase in report generation efficiency
- Three FTEs now able to be redeployed to higher value activities
SAP GRC solutions enable your business to simplify its approach to GRC and make better business decisions by visualizing and predicting how risk may impact performance. To find out how SAP can help you unify and modernize your organization’s GRC, visit SAP GRC Solutions.