SAP is helping enterprises safeguard against unnecessary risks when teaming up with other companies by releasing the SAP Business Partner Screening application.
“With increased financial, operational and reputational risks associated with business relationships, knowing your partners and who they are in business with is critical,” said David Houlihan, principal analyst of Blue Hill Research.
SAP Business Partner Screening will enable companies to simplify business partner screening processes, minimize efforts and costs, and optimize alert processing to help reduce exposure to commercial, compliance and reputational risk.
The new application is built on the SAP HANA platform to handle multiple sources of data and quickly screen very high volumes of data while minimizing false alerts.
SAP Business Partner Screening is designed to fulfill comprehensive address screening requirements on companies’ business networks. It can perform real-time checks and put a hold on suspicious and harmful transactions to protect the business.
Additionally, the application adapts to governance, risk and compliance (GRC) requirements and enables clients to develop new screening strategies as their business evolves.
“As companies grow, so does the complexity of their business networks of customers, suppliers, subcontractors and others,” Houlihan said. “This proliferation in the number and diversity of relationships and data sources increases the data volume involved exponentially, particularly for B2C businesses. Combating these challenges requires new sets of Big Data and analytics solutions to process information in real time to mitigate risk without impacting the speed of business.”
For more information about the SAP Business Partner Screening Application, visit go.sap.com.