SAP GRC Stands for Governance, Risk and Compliance. It is basically a set of solutions and products that help to manage the enterprise resources to minimize the risk, build trust, and lowers compliance costs. Products like Risk Management, Process Control and Audit Management lets you automate the GRC activities, improves the visibility and control, monitor risks and coordinate GRC through a unified platform.
Why SAP GRC is crucial for the organization?
Enterprise Resource Management (ERP) is an integrated system that stores all business transactions in a unified database. This ERP is considered as the central part of the SAP environment. In SAP Environment, you can audit the platform using two modules that is provided as the part of SAP GRC namely the SAP Process control and SAP Risk Management. In SAP Audit, you can assess the risk that the sensitive business data might be accessed (or) manipulated by multiple users in the enterprise. Moreover, in accurate (or) invalid data entered at any point in your business process may affect the data accuracy of the entire systems
How GRC is helpful for auditors as well as the administrators?
GRC auditing capabilities helps auditors as well as the administrators in the following ways:
Automate and accelerate the audit Process: SAP Auditing lets auditors create, track and manage the audit issues and also accelerate the remediation of these issues
Automatically prioritize issues for deeper investigation:This allows the internal auditors to conduct the timely risk assessments, focusing on most important issues.
Track individual transactions across connected applications: SAP’s internal auditing mechanisms can automatically detect transactions that violate the security protection issues
Detect malicious transactions:Includes the potential instance of fraud and segregation of duties violations
Comply with regulations and Standards:SAP auditing systems assesses whether SAP Configuration systems and the treatment of private information complies with regulations and compliance standards.
Get more real time knowledge on these benefits at SAP GRC Online Training in Hyderabad
What are the 10 Core modules of SAP GRC?
SAP GRC consists of 10 core modules as mentioned below:
SAP RISK Management:It is an enterprise risk management solution that supports the identification, analysis, monitoring of risks which lets you to extract the detailed insights into risk drivers and impact on operation and business operations
SAP Process Control: This lets you use real time insights to reduce the associating risk, implementation of continuous monitoring as well as the stream line testing of controls
SAP Audit Management: This solution uses the mobile friendly capabilities to streamline internal auditing and simplifying the activities like documenting evidence, organizing electronic work papers and creation of audit reports. Besides, it fully integrates with SAP Process Control and SAP Risk Management.
Get practical knowledge on core modules at SAP GRC Training Course
SAP Business Integrity Screening: This solution lets you identify and prevent errors as well as fraud via accurate and real time scans of the business data. Besides, it also capable of finding the anomalous behavior based on predictive analysis and rule sets pattern detection that indicate the fraud.
SAP Watch List Screening: Many firms were legally required to screen business partners against lists of restricted (or) denied persons in the organizations that have been flagged by international (or) Government Institutions. This solution provides a automated screening mechanism to simplify the processes of vetting the business partners and reduce the cost and effort associated with third party due diligence.
SAP Global Trade Services: Automate trading process to accelerate cross border supply chains and control costs. This solution helps to clear the inbound and outbound customs faster and avoid penalties (or) Fines. In addition, it provides the unified repository for compliance requirements that lets you centrally manage global trade operations.
SAP Enterprise Threat Detection:SAP offers a security information and event management (SIEM) Solution that leverages the real-time intelligence. Besides, it can detect the internal and external threats with in your sap environments that helps to achieve the compliance with audit and data protest regulations
SAP privacy Governance:This solution provides the several capabilities that can help to achieve the transparency, governance as well as monitoring to ensure compliance with compliance mandates.
SAP Cloud Identity Access Governance: SAP lets you implement Identity and Access Management Systems (IAM) including cloud and on premises components. This module provides the user friendly and dashboard driven interface.
This solution stream lines the management and validation of user access. This lets you set up automated processes for user provisioning in SAP Systems. Besides, it lets you embed preventive policy check to enforce governance and monitor emergency accesses.
Get more information on above modules in SAP GRC Training institutes in Ameerpet
How is the job market for SAP GRC Module?
SAP GRC Operates independently from any other SAP Applications such as ECC and it normally operates on its own stack with a dedicated Change Management Systems.
SAP is the niche corner with in the SAP Portfolio. It’s mostly for the corporations that were on the stock market (or) aspire to go public (or) heavily regulated. Even though it is not the main stream in SAP Product, but rather a different solution from ECC, SRM, SCM, EPM, Ariba and other success factors. Moreover, this is a very challenging area as well as the companies were paying high attention to it. In addition, you have a chance to get in to this and receive training and job experience which means you will able to become a real consultant in this field.
Getting into the field of SAP GRC is easy in today’s world. Through the enrollment in Top institutes like IgrowSoft, you can acquire the best knowledge in SAP GRC and can easily get the job through SAP GRC Coaching Centres in Hyderabad. With the coaching offered here, you can easily acquire the best real world knowledge on SAP GRC and can get placed in a reputed company.