Overview of SAP GRC
SAP Governance, Risk and Compliance solution empowers associations to oversee controls and compliance and remove any risk in dealing with associations' key operations. According to changing business sector circumstance, associations are developing and quickly changing and unseemly records, spreadsheets are not adequate for outer reviewers and controllers.
SAP GRC causes the association to deal with their regulations and compliance and perform the following activities:
• Improve risk management activities.
• Easy coordination of GRC exercises into existing procedure and automating key GRC activities.
• Organizations perform better and organizations can protect their values.
• Managing misrepresentation in business handled and review administration successfully.
• Low complexity and managing risk efficiently.
• SAP GRC solution comprises of three fundamental regions: Analyze, manage and monitor.
Modules in SAP GRC
Let us now understand the different modules in SAP GRC −
SAP GRC Access Control
To alleviate risk in an association, it is required to perform risk control as a major aspect of compliance and regulation practice. Duties ought to be clearly defined, overseeing part provisioning and overseeing access for a super client is critical for managing risk in an association.
SAP GRC Process Control and Fraud Management
SAP GRC Process Control software solution is used for supervising conformity and strategy organization. The conformity organization capacities empower relationship to supervise and monitor their inner control circumstances. Affiliations can proactively settle any perceived issues and ensure and give insights with respect to the general state of the looking at consistence works out.
SAP Process control supports the entire life-cycle of policy management, including the distribution and adherence to policies by target gatherings. These approaches help associations to decrease the cost of compliance and enhance administration transparency and empower association to develop compliance administration procedures and policies in business condition.
SAP GRC Risk Management
SAP GRC Risk Management enables you to oversee risk management activities. You can do advance planning to recognize the risk in business and actualize measures to oversee chance and enable you to settle on a better choice that enhances the execution of business.
Risks come in many structures −
• Financial Risk
• Strategic Risk
• Compliance Risk
• Operational Risk
SAP GRC Audit Management
This is used to improve the audit management process in an organization by archiving artifacts arranging work papers, and making audit reports. You can without a doubt consolidate with other governance, risk, and compliance solution and enable associations to alter audit management approaches with business goals.
SAP GRC audit management helps auditor in making things simple by giving the accompanying abilities −
• You can instantly capture the artifacts for audit management and different confirmations utilizing mobile abilities drag-drop feature.
• You can without much of a stretch make, track, and oversee audit issues with global monitoring and development.
• You can perform search utilizing search capacities that permit to get more data from heritage and working papers.
• You can connect with examiners with a user-friendly interface and collaboration tools.
• Easy integration of audit administration with SAP Risk Management, SAP Fraud Management, and SAP Process Control to adjust review process with business objectives.
• Quick determination of issues utilizing automated tracking tool.
• Enhance the staff use, and fewer travel costs came about because of internal audit planning, resource management, and scheduling.
• Easy integration with SAP Business Objects detailing and data visualization tool to imagine review reports utilizing Lumira and other BI reporting.
• Use of pre-set up layouts to standardize audit artifacts and reporting procedure.
SAP GRC Fraud Management
SAP GRC fraud management tool helps associations to distinguish and prevent frauds at an early stage and subsequently diminishing limiting the business misfortune. Scans can be performed on the tremendous measure of data in real-time with more precision and fraudent exercises can be effectively recognized.
SAP fraud management software can help associations with following capacities:
• Increase the framework alert and responsiveness to avoid fraudent exercises to happen all the more as often as possible in future.
• Easy examination and documentation of fraud cases.
• Easy scanning of high volumes of transactions and business data.
SAP GRC Global Trade Services
SAP GRC GTS software helps associations to upgrade cross fringe supply inside breaking points of international trade management. It helps in lessening the punishment of risks from International Trade Regulation specialists.
It gives incorporate global trade management process with a solitary repository for all consistence master data and substance regardless of the size of an association.
SAP GRC Capability Model
SAP BusinessObjects GRC solution comprises of three fundamental abilities − Analyze, Manage and Monitor.
In the following diagram, you can see the SAP GRC Capability Model that covers all the key highlights of SAP GRC software. Utilizing GRC, associations can check for every single potential risks and consistence discoveries and can take amend choice to mitigate them.
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