New Versions of SAP® BusinessObjects™ Risk Management and SAP® BusinessObjects™ Process Control Automate and Unify Risk and Compliance Initiatives
PALO ALTO, Calif. and WALLDORF, Germany — In a rapidly changing economic environment marked by unpredictable risk, organizations today are increasingly vulnerable to financial loss and, tarnished reputations. SAP AG (NYSE: SAP) today introduced new capabilities in two SAP® BusinessObjects™ governance, risk, and compliance (GRC) solutions that promote automated, unified risk management and compliance strategies. Available today, new versions of the SAP® BusinessObjects™ Risk Management and SAP® BusinessObjects™ Process Control applications give customers the clarity required to help ensure that the right controls are in place, helping them to both comply with government regulations and manage business risks. This holistic view will help customers take a preventative approach to risk and be better protected against future vulnerabilities caused by rapidly shifting conditions. The new SAP BusinessObjects GRC solutions are also embedded with SAP BusinessObjects business intelligence (BI) solutions, enabling greater transparency across customers’ organizations and helping them to develop smarter, more risk-aware business strategies.
Risk managers and auditors face a serious challenge: they lack real-time, unified visibility across the various business units. Traditionally, they monitor risks and assess controls via manual processes, such as surveys and spreadsheets sent on an annual or quarterly basis, to help them comply with and support specific regulations or corporate initiatives. But risk is not a static, predictable event. Companies today require an ongoing and automated way to identify risks and test controls continuously, and to quickly aggregate that data into a comprehensive, enterprise-wide picture. With the solutions SAP announced today, customers can enact continuous monitoring of business risks and internal controls. Customers’ ability to make risk management an ongoing process will help ensure fewer surprises and more sound business practices. For example, recent product recalls have cost companies both money and reputation. But SAP BusinessObjects GRC solutions can help companies make sure the right controls are in place to help them identify and resolve product quality issues before they put both the public and the company at risk.
For example, recent spinach recalls due to E. coli bacteria could have been better managed with SAP BusinessObjects GRC solutions. In the food industry, companies have manufacturing controls in place to help plants comply with quality checks mandated by the Federal Department of Agriculture (FDA): failing to comply with these regulations poses a significant risk to public safety, not to mention fines and damage to brand reputation. Today, most companies audit their inspection processes manually and on a quarterly basis. As a result, it can take months to find out if controls are still in place or effective. With the new SAP solutions, risk indicators and controls are monitored continuously and automatically. For example, the software can help ensure that every shipment of spinach that goes out has been adequately inspected. If an inspection is not completed or if the quality results fall out of acceptable range, an alert is automatically sent to the operations manager so immediate corrective action can be taken before the product is shipped. SAP software helps the company to address the risk before it becomes a problem, thus protecting customers and ultimately, consumers.
The new versions of SAP BusinessObjects Risk Management and SAP BusinessObjects Process Control also empower business users to embed risk management into existing business processes and divisions. Now risk managers and auditors can easily build controls and key risk indicators that monitor the business environment, helping to prevent problems and promote the effectiveness of existing systems. This is a faster and more cost-effective way to make sure that risk monitoring is automatic and ongoing.
“Our objective in our division is to be able to manage multiple compliance projects more efficiently,” said Kevan Wooden, VP, Controller Group Operations for Johnson Controls Building Efficiency division. “We expect that a global approach to managing and automating controls will improve our overall efficiency.”
This latest release of SAP BusinessObjects GRC solutions embeds SAP BusinessObjects BI solutions, enabling simplified reporting, dashboarding and analytics. For risk and compliance programs to succeed, business users across the company must have access to risk information. Integrating SAP BusinessObjects BI solutions provides a powerful way to share this data via reports and interactive dashboards. Now business users can easily create, customize and distribute a report from Crystal Reports® software or a dashboard from Xcelsius® software to highlight a potential problem. Leveraging technologies like Xcelsius to build “heat maps” offers companies a visually powerful way to demonstrate trouble spots, such as supply chain disruptions and its potential financial impact.
“The latest SAP BusinessObjects GRC solutions further showcase their unique vision, which ensures that GRC is integrated into the core business processes and applications – and is not simply an afterthought,” Michael Rasmussen, president, Corporate Integrity. “With a holistic approach to real-time monitoring of key risk indicators and controls, organization can manage their business proactively and strategically, rather than reactively. And a more comprehensive risk management strategy is key to improving corporate performance. Customers ability to automatically test and monitor these processes can deliver significant cost and efficiency savings.”
The enhancements to SAP BusinessObjects GRC solutions also help enable customers to manage multiple compliance programs centrally, helping to save time and cut costs. Rather than manually tracking numerous initiatives one by one, customers can manage various risk management and compliance programs at the same time in one environment. This centralized approach also helps make sure that controls are being used effectively across the company. For example, Sarbanes-Oxley and HIPAA regulations may require the same controls; now customers use the same controls and make sure they are deployed consistently across various initiatives.
“Today we’re taking a significant step forward, giving customers the clarity required to successfully navigate risk more effectively in the current financial climate, help position them for future growth,” said Narina Sippy, senior vice president and general manager, GRC Solutions, SAP BusinessObjects Division. “The enhancements we announced today allow customers to clearly see where they are must vulnerable to risk and where they need to bolster controls to mitigate that risk. With the continuous monitoring and transparency SAP provides, companies can respond quickly to new business threats and help comply more efficiently with new regulations.”
SAP is the world’s leading provider of business software(*), offering applications and services that enable companies of all sizes and in more than 25 industries to become best-run businesses. With more than 86,000 customers in over 120 countries, the company is listed on several exchanges, including the Frankfurt stock exchange and NYSE, under the symbol “SAP.”
The SAP® BusinessObjects™ portfolio transforms the way the world works by connecting people, information and businesses. With open, heterogeneous solutions in the areas of business intelligence; information management; governance, risk and compliance; and enterprise performance management, the SAP BusinessObjects portfolio enables organizations to close the gap between business strategy and execution.
For more information, visit www.sap.com.
(*) SAP defines business software as comprising enterprise resource planning and related applications.
Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.
Copyright © 2009 SAP AG. All rights reserved.
SAP, R/3, mySAP, mySAP.com, xApps, xApp, SAP NetWeaver and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. Data contained in this document serve informational purposes only. National product specifications may vary.
Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit www.sap.com/stockfootage. On this platform you can find high resolution material for your media channels. To view video stories on diverse topics, visit www.sap-tv.com. From this site, you can embed videos into your own Web pages, share video via e-mail links and subscribe to RSS feeds from SAP TV.
For customers interested in learning more about SAP products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1SAP (1-800-872-1727)
For more information, press only:
Scott Behles, SAP, +1 (917) 494-2009, email@example.com, EDT
Dana Dye, SAP, +1 (415) 928-1310, firstname.lastname@example.org, PDT
Hilmar Schepp, SAP, +49 6227 7-46799, email@example.com, CET
SAP Press Office, +49 (6227) 7-46315, CET; +1 (610) 661-3200, EDT; firstname.lastname@example.org
Stan Weakley, Burson-Marsteller, +1 (202) 530-4554, email@example.com, EDT