SAP BusinessObjects Releases New Versions of Risk Management and Process Control Applications

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SAP AG recently introduced new capabilities in two SAP BusinessObjects governance, risk, and compliance (GRC) solutions that promote automated risk management and compliance strategies. New versions of the SAP BusinessObjects Risk Management and 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 applications are also embedded with SAP BusinessObjects business intelligence solutions, enabling greater transparency across customers' organizations and helping them to develop smarter, more risk-aware business strategies.

David Milam, vice president solutions management for SAP BusinessObjects GRC solutions, tells 5 Minute Briefing that "SAP looks at GRC from a business user perspective rather than a bottoms-up security focus. Within the GRC portfolio, the new risk management application is targeted at CFOs to help them mitigate the highest priority risks across the enterprise. The process controls application can address regulatory compliance processes or business policy processes and is meant to be embedded into ongoing operational systems. With respect to the most recent applications versions, the main highlights consist of a multi-compliance framework which enables reuse of controls, continuous monitoring and alerting of risks and processes, and embedded use of Crystal Reports."

According to SAP, 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, and 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. The new SAP BusinessObjects GRC solutions are intended to address these issues and help customers enact continuous monitoring of business risks and internal controls.

For more information on the latest application releases, go here.