SAP NEWSBYTE — SAP SE (NYSE: SAP) today announced general availability of the SAP® Business Partner Screening application, which helps companies gauge risk when partnering with other organizations. SAP Business Partner Screening enables 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 announcement was made at the SAPinsider conference, being held in Singapore on Sept. 1–3.
“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, “As companies grow, so does the complexity of their business networks of customers, suppliers, subcontractors and others. 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.”
As companies grow organically and geographically and expand their business network, it is essential that they capture data from third parties and multiple list providers to identify sensitivities associated with customers, suppliers, subcontractors or any other partners. The SAP Business Partner Screening application is built on the SAP HANA® platform to handle multiple sources of data and to 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.
“Screening business partners has become a key focus area for customers and continues to increase in importance as companies expand their business networks and the sources of information on their partners multiply,” said Kevin McCollom, VP GRC Solutions Management, SAP. “Our new SAP Business Partner Screening application leverages the power of SAP HANA to help companies better manage third-party data to protect and grow their business.”
As part of the SAP solutions for governance, risk and compliance (GRC), SAP Business Partner Screening easily adapts to new requirements and enables companies to develop new screening strategies as their business evolves.
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