The release expands its effort to help corporate executives achieve compliance with regulations like Sarbanes-Oxley and Basel II.
The company said the new Governance, Risk and Compliance (GRC) products are built on a service oriented architecture (SOA) to enable enterprise-wide gathering, consolidation and presentation of relevant operational information.
And this release comes just a few months after SAP added to its compliance arsenal with the acquisition of risk management tools vendor, Virsa Systems.
Rod Masney, president of the Americas' SAP Users' Group said there is considerable interest among the SAP user base in SOA-based risk management and compliance tools: “The use of SOA technology can ease the process of gathering the data needed to ensure compliance with regulations.”
An SAP spokesman said these tools were designed to overcome the often functional silos preventing gathering data across the enterprise. Often, officials have to gather data from multiple corporate units to ensure compliance with regulations.
He added that the new SAP tools aim to automate the process of risk detection by using data gleaned from a variety of sources. The tools can also create proactive responses by using role-based dashboards, he added.
IDC analyst, Kathleen Wilhide said these new SAP products could help companies automate risk management and compliance processes, as well enable alerts procedures routed to appropriate personnel.
She also noted that SAP is expanding its stable of compliance tools at the same time rival vendors are looking to tackle the same problems. For example, Oracle Corp. is partnering with third-party vendors to create such offerings and embedding compliance technologies into its applications she said.
SAP did not disclose pricing for the three new applications. But the new SAP GRC Repository and SAP GRC Process Control will be available in the US from 30 November; SAP GRC Risk Management will ship in December.
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