March 23, 2011 – SAP has unveiled a retooled update of its governance, risk and compliance suite, including business intelligence enhancements and aimed at the maturing and industry-specific data governance marketplace.
Version 10.0 of its GRC suite features embedded BI reports and dashboards, a graphical tool for risk depictions and analysis, automated management capabilities, commonality of interface, data transporting and archiving, granular security controls, and real-time risk analysis. In addition, the updated applications and software offer creation of user-built parallel platforms to cover GRC pertaining to particular industries, according to a news release.
Reworked for nearly three years, the revised GRC suite comes with connections to all other enterprise resource planning systems and to applications in BusinessObjects, which had its own recent overhaul.
The framework enables risk and compliance information layering for predictive analysis to make “risk intelligent decisions,” says Jim Dunham, Group Vice President of GRC Solutions for SAP. Dunham says the BI enhancements and uniformity of the feel will provide users capabilities for add-ons in the ever-changing regulatory environments and reporting requirements of specific industries.
“Look, you can never accurately guess the next big compliance initiative. If you could, go live in Vegas,” Dunham says. “Instead, let’s back up and say let’s create the environment, let’s create the platform where it doesn’t matter. At the end of the day, they all pattern in a very standard way.”
William Jan, senior analyst in financial management and GRC at Aberdeen, said that competitors Oracle and IBM have both made acquisitions to gain a toehold in the GRC management space. That was partially prompted by SAP’s earlier GRC releases and adoptability, which the company might expand upon with accountability and risk management updates in version 10.0, Jan says.
“As one of the first enterprise-class GRC solution providers to ‘seed’ this emerging market, SAP is helping the marketplace define what GRC is, and how it impacts such disciplines as enterprise performance management through risk-adjusted planning,” Jan says. “If SAP can continue to instill success and confidence in their customers through a solution that supports their vision, it will be the one to set the standard in the GRC marketplace.”
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