SAP has added to its governance, risk and compliance (GRC) portfolio with the addition of the SAP Business Partner Screening application.
The application simplifies the process of screening and alert processing to reduce risks when organisations partner with other businesses.
“With increased financial, operational and reputational risks associated with business relationships, knowing your partners and who they are in business with is critical,” said David Houlihan, principal analyst of Blue Hill Research.
“As companies grow, so does the complexity of their business networks of customers, suppliers, subcontractors and others. This proliferation in the number and diversity of relationships and data sources increases the data volume involved exponentially, particularly for B2C businesses. Combating these challenges requires new sets of Big Data and analytics solutions to process information in real time to mitigate risk without impacting the speed of business.”
With the SAP Business Partner Screening application built on the SAP HANA platform, data can be captured from third parties and multiple list providers to alert the business to any sensitivities associated with customers, suppliers, subcontractors and other partners. By performing real-time checks, it can put a hold on suspicious and harmful transactions.
