SAP received multiple awards in the most recent RiskTech100 rankings from Chartis Research. These include the Corporations award in the industry category and five solution category wins for Asset and Inventory Management, Facility Management and Control, Finance and Accounting – Cross Industry Support, GRC – Supply Chain Risk, and GRC – Vendor and Third-Party Risk.
Strong, Cross-Industry Cloud ERP Capabilities
SAP’s strategy is to help every business run as an intelligent, sustainable enterprise. SAP offers customers a comprehensive end-to-end suite of applications and services across 25 industries globally. These help facilitate effective data processing and information flow across organizations, providing deep business insight, process efficiencies, and fostering collaboration.
We are redefining enterprise resource planning (ERP), creating networks of intelligent enterprises that provide transparency, resiliency, and sustainability across supply chains.
With SAP S/4HANA, we use the power of in-memory computing to process vast amounts of data and support advanced technologies, such as artificial intelligence (AI), machine learning, the Internet of Things (IoT), and advanced analytics.
“Chartis recognizes SAP’s strong ERP capabilities across the board,” said Sid Dash, chief researcher at Chartis. “Its strengths, particularly in sectors such as energy and commodities, are crucial to the firm’s overall RiskTech100 performance.”
Market-Leading, Future-Critical GRC Capabilities
SAP governance, risk management, and compliance (GRC) solutions received special recognition from Chartis.
In recent years, GRC as a topic has transformed into an enterprise-wide, comprehensive, and fully integrated discipline, connecting all organizational risk and compliance functions. It involves a vast, continuously expanding ecosystem encompassing controls, operational resilience, IT risk management, asset management, and physical operational activities. Its impact on operational resilience and business continuity is far deeper than in the past.
“Being recognized as a leader by Chartis Research for our comprehensive and integrated GRC solutions is a testament to SAP’s commitment to transforming risk and compliance functions for intelligent, sustainable enterprises,” said Jan Gilg, president and chief product officer for Cloud ERP at SAP. “Our cloud ERP solutions empower organizations to embed GRC into their operations and digital transformation, enabling continuous monitoring, predictive insights, and resilient business continuity. We are redefining the future of risk management.”
SAP GRC solutions can simplify risk management by providing guidance for financial, vendor, and operational risks. With automation, real-time visibility, and predictive analytics, the solutions can help businesses monitor risks, identities, cyber threats, and compliance more efficiently. This enables companies to gain early insights into anomalies and potential risks, informing their operational and planning decisions.
“Within GRC, many of the areas that SAP focuses on are major areas for concern for both financial and non-financial institutions,” said Dash. “Specifically, in the non-financial sector, risk areas such as third parties, supply chain, IT, cyber, infrastructure, and asset management have grown significantly in importance.”
“Firms in all industries have very significant concerns and challenges around the ways their physical infrastructure interacts with the increasingly digitalized environment in which they operate. This is not just in relation to cyber risk but also in terms of their wider operational resiliency and infrastructure management,” he continued. “Companies need to be fully aware of how and at what points their digital infrastructure interweaves with their physical infrastructure. Chartis believes that SAP is a leader in the market in these respects, and, in some ways, the rest of the industry is playing catch-up.”
“We also recognize that the other areas where SAP provides significant support, such as providing risk systems upstream with enterprise and inventory views, are central to organizational requirements. Chartis feels that in this increasingly interwoven physical and digital world, SAP’s ability to capture the entire organizational profile for many different types of companies will be a central capability in building GRC and risk solutions going forward,” concluded Dash.