When Sybase CEO John Chen revamped the company’s approach to governance, risk, and compliance (GRC), his primary goal was to create an environment in which corporate performance is led by integrity. To achieve this, Chen looked to SAP to help guide Sybase through the process of incorporating GRC into the rhythm of the business.
“We needed internal audit capabilities that integrated GRC principles within existing management structures,” Chen said.
The multi-year undertaking was recently recognized by the Open Compliance and Ethics Group (OCEG), a nonprofit organization dedicated to improving GRC programs. On June 5 at the Compliance Week conference in Washington, D.C., Sybase received the OCEG 2012 GRC Achievement Award and finished in first place by also winning the Principled Performance Prize.
These honors highlight Sybase’s successful implementation of the SAP Risk Management application and the SAP Process Control application, which form the technical foundation of its risk and compliance programs. With the help of SAP partner Protiviti, the implementation of SAP solutions for GRC significantly enhanced Sybase’s methodology and framework for its enterprise risk management program. As a result, Sybase can now define risk drivers and indicators, as well as provide valuable reports and analyses that positively impact revenue and reduce risk incidents. Michael Lortz, senior director of GRC solution marketing at SAP, describes Sybase’s GRC achievements his blog post, “Sybase and SAP Take Home the GRC Blue Ribbon. Can I get One, Too?”
Driven by data privacy regulations, increasing cyber-security concerns and rapidly changing technological environments, companies like Sybase are acknowledging the need to build a culture of compliance.
SAP has worked closely with its customers to make risk management, regulatory compliance and safe, productive operations a standard and consistent practice. If you’d like to learn more about the process behind Sybase’s award-winning integration of SAP GRC solutions, watch the following videos of Sybase’s OCEG nomination featuring John Chen and Bruce Carpenter, vice president of Internal Audit at Sybase.