GRC Framework & Implementation

GRC Framework and Implementation

GRC ensures the right people get the right information at the right time, the right objectives are established and the right actions and controls are put in place to address uncertainty while acting with integrity.

Organizations that employ GRC process experience

1. Reduced cost

2. Achieve greater quality information

3. Reduced duplication of activities

4. Reduced impact on operations

GRC Implementation (Technology)

1. SAP Access Control

Digitalization increases access and security challenges exponentially. In an age of mobile workforces, complex business networks, strict data protection requirements, and ever-present identity and cybersecurity threats, you need robust access gover-nance more than ever. You must give users appropriate access to applications and data to perform their tasks, while ensuring that access governance processes pre-vent misuse and adhere to internal security policies and external compliance regulations.

The primary goal of risk analysis is to find and remediate segregation-of-duties (SoD) and critical-access violations. With SAP Access Control, you can perform a cross system analysis of these violations in real time or in offline mode.
Either way, you identify potential risks using a comprehensive rule set for the most common business functions and associated risks.

WORKING WITH THE RULES SET
The rules set is based on best practices and compatible with the SAP ERP application, SAP S/4HANA®, and other similar software applications. The rules let you monitor risks to business applications throughout the enterprise to establish a consistent policy and prevent siloed approaches to separate environments.

2. SAP Process Control

Simplify your internal control programs and gain confidence by automating control and compliance management. You can utilise continuous control monitoring, streamline testing, and reduce risk with real-time insight into control status and key issues.

Key Benefits

  • Increase efficiencyStreamline your process control operations by identifying, prioritizing, and focusing resources on key business processes and risks.
  • Provide real-time visibilityGain real-time insights into all compliance and internal control processes with continuous control monitoring functionality.
  • Improve complianceSupport compliance efforts across regulations including anti-bribery and corruption, financial compliance, IT controls, and industry-specific requirements.

3. SAP Risk Management

SAP Risk Management gives you a framework for risk management throughout your enterprise, helping all areas to control risk and identify opportunity.

SAP Risk Management gives you a framework for risk management throughout your enterprise. You can use it to identify specific events and circumstances that pose risks and opportunities, assess their likelihood and potential impact, develop counter-strategies, and monitor the progress of your initiatives.

As you encourage continuous improvement and risk accountability you’ll also ensure your risk management disciplines are applied to appropriate decision-making processes throughout the business. It also assists collaboration and coordination among your various departments, branches, and offices.

Now you can focus your risk management efforts on the activities and processes that are most important to your business. You can track the progress of an initiative and measure its maturity and gain a deeper understanding of what drives risk levels, how risks affect value, and how your organization should respond to risks.

4. SAP Audit Management

The SAP® Audit Management application transforms the audit process. Powered by the SAP S/4HANA® platform, it integrates with other SAP solutions for governance, risk, and compliance (GRC) and is a key element in the three lines of
the defense framework.

Providing basic assurance activities will always be a key mandate of internal audit departments. Internal auditors must continue to provide independent opinions and conclusions but these activities must be automated and streamlined. The resources required to move beyond assurance, and to provide the kinds of insight your executives need, come from greater efficiencies by automating basic auditing tasks, many of which are currently managed manually.

SAP Audit Management has an intuitive, user-friendly interface that engages your audit staff. Integration with SAP Business Integrity Screening, SAP Risk Management and SAP Process Control help internal auditors to see and consume knowledge created by the business. It also means that gaps and overlaps in coverage are
avoidable.

5.  SAP Business Integrity Screening (Fraud Management)

The earlier you detect anomalies, including fraud, the greater your chances are to prevent associated losses. With the real-time detection features of SAP Business Integrity Screening, you can spot activities as they happen and stop anomalous
transactions before they impact your bottom line.

Part of SAP governance, risk, and compliance (GRC) solutions, SAP Business Integrity Screening helps you capture, search, and analyze data from multiple sources. You can integrate the application with other business software – both SAP and non-SAP. Your analysts can detect anomalous activity and the application can place a hold on
related transactions before further losses occur. What’s more, SAP Business Integrity Screening delivers alert notifications and gives you tools to improve your control framework and enhance business integrity practices.