Governance, Risk and Compliance is fast becoming a high-priority concern in the corporate world today due to the increase in the complicated procedural rules imposed by the governing bodies. Gone are the days when GRC was treated as a separate entity. It has now become an integral part of planning and executing any project.

    SAP accomplishes this by creating a special end-to-end GRC process which mainly includes corporate governance, risk management and compliance with standards.

    Based on integral corporate policies and best-known GRC practices that are in vogue, the governance initiatives from across the enterprise are dealt with.

    A good risk management system ensures that the losses that a company suffers from high-impact events are minimized by balancing business opportunities with proper and fool-proof financial, operational and legal alternatives.

    It includes identifying risks and monitoring them, formulating methods to mitigate risks across the diverse lines of business and designing a unique and industry-specific risk portfolio and performance-based risk management strategy.

    In order to ensure compliance, one has to identify and prevent access and authorization risks (GRC Access Control), ensure compliance of business operations (GRC Process Control), trade compliance in case of cross-border transactions (GRC Global Trade Services), strictly adhere to environmental, occupational and product safety regulations and create a proactive risk issue management (GRC Composite Application).

    A fully-functional industry-specific SAP GRC model makes sure that your business practices dont violate any procedural rules and minimizes business risks.