SAP governance, risk management, and compliance (GRC) solutions have earned accolades in the latest RiskTech100 rankings by Chartis Research. The ERP giant emerged victorious in six categories, including the Corporations award in the industry category. This feat acknowledges SAP’s robust cross-industry capabilities and commitment to building intelligent, sustainable enterprises.
The German enterprise software giant’s strategy, aimed at transforming every business into an intelligent and sustainable entity, is clearly reflected in its expansive range of applications and services. By offering a comprehensive suite of solutions across 25 global industries, SAP ensures seamless data processing and information flow across organizations. This fosters deeper business insight, enhances process efficiencies, and encourages collaborative work environments.
Furthermore, SAP’s resource planning solution, SAP S/4HANA, harnesses the might of in-memory computing to process substantial data volumes and support advanced technologies such as AI, machine learning, IoT, and advanced analytics. Chartis Research has recognized these strong ERP capabilities that SAP brings to the table, particularly highlighting their impact in sectors like energy and commodities.
SAP governance, risk management, and compliance (GRC) solutions have witnessed a notable evolution over the years, transitioning from a siloed function to a comprehensive, enterprise-wide discipline. It now links all risk and compliance functions within an organization, impacting everything from operational resilience to business continuity.
The contemporary GRC ecosystem is a vast and constantly expanding network that includes controls, operational resilience, IT risk management, asset management, and physical operational activities. Recognizing this broad influence, SAP has developed its GRC solutions to aid organizations in integrating risk and compliance functions into their operations and digital transformation journeys.
Championing Governance, Risk Management, and Compliance with SAP Solutions
Chartis Research, represented by chief researcher Sid Dash, acknowledged the robust ERP capabilities of SAP, particularly noting their strength in sectors such as energy and commodities, which significantly contributed to SAP’s performance in the RiskTech100 rankings. Dash also emphasized the substantial focus SAP places on various critical areas within governance, risk management, and compliance (GRC), which are of significant concern for both financial and non-financial institutions. He pointed out that in the non-financial sector, the importance of risk areas, including third-party interactions, supply chain, IT, cybersecurity, infrastructure, and asset management, has significantly escalated.
Meanwhile, Jan Gilg, President and Chief Product Officer for Cloud ERP at SAP, acknowledged the Chartis Research recognition as a testament to SAP’s commitment to transforming risk and compliance for intelligent, sustainable enterprises. According to him, SAP’s cloud ERP solutions enable organizations to embed GRC into their operations, fostering continuous monitoring, predictive insights, and resilient business continuity.
SAP’s GRC solutions offer streamlined risk management for financial, vendor, and operational risks. Leveraging automation, real-time visibility, and predictive analytics, these solutions enable businesses to monitor risks, identities, cyber threats, and compliance more efficiently. Early detection of anomalies and potential risks allows companies to make informed operational and planning decisions.
“Companies need to be fully aware of how and at what points their digital infrastructure interweaves with their physical infrastructure. Chartis believes that SAP is a leader in the market in these respects, and, in some ways, the rest of the industry is playing catch-up,” Dash noted.
Meeting Industry-Specific GRC Needs of Businesses
Increasingly, firms across various sectors are faced with challenges related to the interaction of their physical infrastructure with a digitalized environment. This is particularly evident in risk areas such as third-party relationships, supply chain, IT, cybersecurity, infrastructure, and asset management. In addition, SAP’s GRC solutions address these concerns, helping businesses understand the points of interweaving between their digital and physical infrastructures.
Chartis Research also views SAP as a market leader in providing comprehensive organizational profiles for a range of companies, considering it a critical capability for building future GRC and risk solutions. SAP’s holistic approach to capturing the entire organizational landscape is instrumental in providing risk systems with enterprise and inventory views, thereby playing a crucial role in designing GRC solutions for an increasingly interconnected physical and digital world.
