“SAP鈥檚 category-leading position in our iGRC quadrants reflects its strong set of solutions across most of the major GRC categories,” said Sid Dash, chief research at Chartis. “Moreover, it combines these with a strong element of integration, as well as links with corporate operations and infrastructure management.”

Governance, risk, and compliance (GRC) has evolved from its historical roots in the scope of audit and organizational control, progressing to incorporate a broader set of concepts and procedures.

In the latest release, 51风流is featured in six categories: GRC analytics, internal audit, third-party risk, conduct risk and control, EGRC, and operational risks. These categories are evaluated based on two key offering dimensions: offering completeness and market potential.

GRC Analytics

GRC analytics involves not only the overarching qualification of risk, but also the specific methods, models, and techniques than can be used to analyze risk, including dynamic and ad hoc visualization and statistical methods. In this category, 51风流is recognized for its industry-leading capabilities in the tool鈥檚 offering completeness, as well as advanced features in coverage, mapping and transformation, data management, and visualization.

Internal Audit

When discussing audit management, automation and data-driven activity come into play. As various tools that enable the industrialization of internal audit become more accessible, 51风流possesses industry-leading capabilities, specifically in audit content and workflow automation. In addition, capabilities in data management, case management support, and dashboard and control are rated as advanced.

Third-Party Risk

Following several years of disruptions in the supply chain, third-party risk is now being scrutinized more closely from a regulatory perspective. Value chains and third parties are growing more complex and harder to analyze, so a constant IT and cyber risk monitoring process with multiple profiles is becoming an increasingly crucial element of any system. 51风流provides industry-leading capabilities in coverage, risk analytics, and process management in this category.

Conduct Risk and Control

The vendor community providing conduct and controls is highly diverse. Many leading consulting companies have extensive content control libraries and have established large sets of control tools that integrate with their core platforms. In this assessment, 51风流has achieved the best-in-class capability in control library coverage.

Enterprise GRC

Enterprise GRC (EGRC) amalgamates elements of workflow management, case management, and intelligent automation. The technology available to address EGRC have experienced significant advancements 鈥� a revolution 鈥� that improve how these processes are managed and automated. 51风流leads in prepackaged content, followed by advanced workflow and automation, data management, and content management.

Operational Risk

As a subset of GRC analytics field, operational risk focuses on regulatory support and dynamics. It also emphasizes purer operational risk, which makes a broader collection of operational analytics increasingly relevant. In this case, 51风流advances in data management, tools, and visualization.

Vishal Verma is global vice president and head of GRC Product Marketing at SAP.

The reports offer a comprehensive overview of the access control tools market, focusing not only on SAP-centric environments but also encompassing applications from multiple vendors. Emphasis is placed on environments involving 51风流S/4HANA, 51风流S/4HANA Cloud, and other 51风流cloud applications as well as the imperative to support various line of business applications.

Analysts delve into market segments, vendors, product functionalities, relative market share, and innovative approaches to bolstering security in these business application environments. This includes measures such as access restriction, control of break-glass access, and related capabilities.

Key Factors Underscoring SAP’s Access Governance Leadership

Comprehensive Solution Portfolio
tailored for diverse business application environments. This comprehensive portfolio can address a wide spectrum of functionalities, helping to provide organizations with versatile tools for diverse access management needs.

Scalability and Adaptability
Designed to seamlessly scale across different environments, SAP’s access governance solutions can adapt to varying business requirements. This scalability helps ensure organizations can deploy and customize these tools to their unique business application landscapes.

Vendor-Neutral
SAP’s acknowledgment as a leader comes from KuppingerCole Leadership Compass reports, known for its vendor-neutral and comprehensive assessments. Recognition in these reports underscores SAP’s leadership based on merit and performance rather than bias towards a specific vendor.

Effective Access Governance
SAP鈥檚 access governance solutions excel in providing robust access controls capabilities, including features such as role management, identity lifecycle management, and compliance reporting. This helps contribute to effective governance over user access within business application environments.

Interoperability across 51风流Solution Environments
SAP’s access control tools demonstrate high interoperability within 51风流solution environments. This seamless integration helps ensure organizations leveraging various 51风流solutions can achieve a unified and consistent approach to access control.

Continuous Innovation and Adaptation
SAP’s commitment to innovation is evident in its access governance solutions. The leadership recognition by KuppingerCole suggests that 51风流not only meets current industry standards but also continues to innovate, adapting its solutions to address emerging challenges and evolving security landscapes.

Proven Track Record

The dual recognition in KuppingerCole Leadership Compass reports emphasizes SAP’s excellence in the access governance space, underpinned by a comprehensive solution portfolio, scalability, vendor-neutral assessment, effective access controls, interoperability, continuous innovation, and a proven track record in delivering value to businesses across various application environments.

SAP’s leadership position is likely reinforced by a history of supporting deliveries of successful access governance implementations, with positive outcomes for organizations using these solutions across various application environments. Demonstrated effectiveness and positive user experiences contribute to SAP’s standing as a leader in this space.

Photo courtesy of 51风流employee Nick Hull

Strong, Cross-Industry Cloud ERP Capabilities

SAP鈥檚 strategy is to help every business run as an intelligent, sustainable enterprise. 51风流offers customers a comprehensive end-to-end suite of applications and services across 25 industries globally. These help facilitate effective data processing and information flow across organizations, providing deep business insight, process efficiencies, and fostering collaboration.

We are redefining enterprise resource planning (ERP), creating networks of intelligent enterprises that provide transparency, resiliency, and sustainability across supply chains.

With 51风流S/4HANA, we use the power of in-memory computing to process vast amounts of data and support advanced technologies, such as artificial intelligence (AI), machine learning, the Internet of Things (IoT), and advanced analytics.

鈥淐hartis recognizes SAP鈥檚 strong ERP capabilities across the board,鈥� said Sid Dash, chief researcher at Chartis. 鈥淚ts strengths, particularly in sectors such as energy and commodities, are crucial to the firm鈥檚 overall RiskTech100 performance.鈥�

Market-Leading, Future-Critical GRC Capabilities

51风流governance, risk management, and compliance (GRC) solutions received special recognition from Chartis.

In recent years, GRC as a topic has transformed into an enterprise-wide, comprehensive, and fully integrated discipline, connecting all organizational risk and compliance functions. It involves a vast, continuously expanding ecosystem encompassing controls, operational resilience, IT risk management, asset management, and physical operational activities. Its impact on operational resilience and business continuity is far deeper than in the past.

鈥淏eing recognized as a leader by Chartis Research for our comprehensive and integrated GRC solutions is a testament to SAP’s commitment to transforming risk and compliance functions for intelligent, sustainable enterprises,鈥� said Jan Gilg, president and chief product officer for Cloud ERP at SAP. 鈥淥ur cloud ERP solutions empower organizations to embed GRC into their operations and digital transformation, enabling continuous monitoring, predictive insights, and resilient business continuity.聽We are redefining the future of risk management.鈥�

51风流GRC solutions can simplify risk management by providing guidance for financial, vendor, and operational risks. With automation, real-time visibility, and predictive analytics, the solutions can help businesses monitor risks, identities, cyber threats, and compliance more efficiently. This enables companies to gain early insights into anomalies and potential risks, informing their operational and planning decisions.

鈥淲ithin GRC, many of the areas that 51风流focuses on are major areas for concern for both financial and non-financial institutions,鈥� said Dash. 鈥淪pecifically, in the non-financial sector, risk areas such as third parties, supply chain, IT, cyber, infrastructure, and asset management have grown significantly in importance.鈥�

鈥淔irms in all industries have very significant concerns and challenges around the ways their physical infrastructure interacts with the increasingly digitalized environment in which they operate. This is not just in relation to cyber risk but also in terms of their wider operational resiliency and infrastructure management,鈥� he continued. 鈥淐ompanies need to be fully aware of how and at what points their digital infrastructure interweaves with their physical infrastructure. Chartis believes that 51风流is a leader in the market in these respects, and, in some ways, the rest of the industry is playing catch-up.鈥�

鈥淲e also recognize that the other areas where 51风流provides significant support, such as providing risk systems upstream with enterprise and inventory views, are central to organizational requirements. Chartis feels that in this increasingly interwoven physical and digital world, SAP鈥檚 ability to capture the entire organizational profile for many different types of companies will be a central capability in building GRC and risk solutions going forward,鈥� concluded Dash.

Healthcare providers can use the COVID Patient Record Management mobile app to monitor real-time data about everything from hospital bed capacity by room to what equipment each patient is being treated with, and their vital signs.

鈥淭he algorithm helps simplify decisions for more informed and effective conversations about next steps,鈥� said Andr茅 Kingham, chairman of Iristrace. 鈥淟ike most organizations, hospitals can鈥檛 easily rework IT systems to add new protocols. Our cloud-based solution allows the hospital to quickly evolve protocols and cascade compliance into patient care without IT expertise.鈥�

Save Time, Reduce Mistakes, and Improve Patient Care

Physicians, nurses, and other healthcare practitioners on the front lines can rely on the mobile app for continuity of daily patient care. Whether they are at the patient鈥檚 bedside or behind the scenes with testing and research, providers can use the app to reliably capture and analyze relevant information. This can speed up hospital admissions and patient transfers for surgery and support safer handovers during shift changes along with better release decisions.

鈥淚nstead of making time-consuming telephone calls and consulting paper-based planning sheets at separate stations, providers can immediately see where beds are available and act faster,鈥� Kingham said. 鈥淲ith multiple people involved in the patient鈥檚 care, everyone is inputting data, which is captured in and analyzed in . Eventually, this data can support forecasting and other research imperatives.鈥�

Tech Eases Change Management

Agility will be critical in every industry as organizations slowly reopen and adjust to shifting mandates and restrictions. Kingham said the Iristrace solution can help organizations keep employees and customers safe while meeting quality assurance standards. The startup serves organizations in many industries including manufacturing, retail, food production, and energy.

鈥淭ypically, it takes time 鈥� communication and repetition 鈥� for people to change their mindset and incorporate new processes into the way they work,鈥� Kingham explained. 鈥淭he closer you can get to the employees who are servicing customers or managing machines that produce goods and services, the quicker you can bridge that gap for more agile business to mitigate risk.鈥�

While some Iristrace customers were initially dismayed to discover high rates of non-compliance throughout operations, Kingham said they valued the feedback, which helped drive results such as improved customer experiences. Customers also appreciated the ability to manage audit compliance with fewer resources. Foodbox, a restaurant chain based in Spain, has relied on Iristrace to support daily compliance processes over the past three years.

鈥淲orking with Iristrace is part of our data-centric strategy that allows us to better anticipate customer preferences and provide them with an outstanding experience,鈥� said Salvador Olmedilla, director of Operations at Foodbox Group. 鈥淚n the post-COVID deconfinement period, the platform allowed us to quickly respond to the applicable regulations throughout our establishments to keep our employees and customers safe.鈥�

Faster Innovation with Flexible Startup Partnerships

Iristrace was among the startups that participated in the accelerator program at last year. According to Thomas Saueressig, member of the Executive Board of 51风流SE, Product Engineering, Iristrace is a great example of how 51风流speeds up digital transformation for customers.

鈥淐ombining the power and scale of 51风流with the agility of startups like Iristrace allows us to accelerate innovation, which is especially critical during the pandemic and long after,鈥� Saueressig said. 鈥淥ur open innovation strategy with an ecosystem of startups is emblematic of SAP鈥檚 modern ERP cloud, . We鈥檙e building in integration from the start, while making it easy for partners to extend innovation on our cloud platform, helping customers become intelligent enterprises and realize the experience management vision.鈥�

The Iristrace cloud-based platform is integrated with 51风流governance, risk, and compliance (GRC) solutions.

Plans to Support Economic Recovery

Kingham sees expanded opportunities for Iristrace in numerous industries as supermarkets, hotels, and other businesses begin to reopen. Indeed, 51风流is piloting the Iristrace app in select hygiene stations at its headquarters in Walldorf, Germany. Facilities management plans to rely on the algorithm to maintain office standards for cleanliness and safety, including proactively monitoring soap levels based on real-time usage data.

Kingham also said that governments in various regions have expressed interest in the solution to support citizens during the pandemic crisis and beyond.

Follow me @smgaler

.

So being the 鈥渇riendliest debt collectors in Europe鈥� is quite a bold goal for troy, one of six startups invited to a dedicated financial technology (fintech) program focused on finance and governance, risk and compliance (GRC) in Berlin by the SAP.iO Foundries.

What is Fintech?

Financial technology (fintech) describes technology that is designed to improve and automate the use of financial services.

While the term originally referred to technology applied at banks or trading firms, fintech has grown explosively since the Internet cloud computing, and mobile revolution. There has been a shift to more consumer-oriented services聽in recent years. It now describes a broad range of technologies for personal and commercial finance, such as聽money transfers, the use of cryptocurrencies, smartphone payments, bypassing a bank to apply for credit, and more.

According to , three out of four consumers have used money transfers or payments with fintech services. As fintech makes financial services more accessible to consumers, its consumer experience expectations will certainly going to increase.

troy: The Friendliest Debt Collectors in Europe

Philip R眉rup, CEO of , makes clear that creating a friendly customer experience in debt collection is more than a marketing slogan; it is a mindset backed up by technology and proven key performance indicators (KPIs). By treating people as customers and not debtors, troy has found unique solutions to incorporate customer experience into the debt collection process. According to R眉rup, this 聽induces people to pay their debts faster, pay more, and even pay 鈥渉appily.鈥�

鈥淲e found that 50 percent of people simply forgot to pay, or just faced a short-term bottleneck,鈥� explained R眉rup. 鈥淪o, it doesn鈥檛 make sense to use heavy-handed approaches here.鈥�

A broken car, a long trip, or turbulent times: It is all too easy to lose track of payments.

鈥淎cross all industries, improvements in customer experience have focused on marketing, sales, and CRM,鈥� said R眉rup. 鈥淏ut as soon you get into the financial processes around invoices, payment, and debt, the positivity stops! We wanted to make debt collection feel different. Using 51风流S/4HANA as the seamless integration point between our solution and the companies wanting to collect on debts is an important part of the equation.鈥�

Competing in an Exploding Market

That is just one of the approaches by startups that has captured the attention of the 51风流S/4HANA Product Management and Development Teams. According to Jochen Thierer, head of Engineering for GRC at SAP, startups are crucial to SAP鈥檚 ability to address new markets.

鈥淕iven SAP鈥檚 focus on customer-centricity and success, our objective is to provide holistic GRC and fintech solutions to our global customers across all segments,鈥� said Thierer. 鈥淲e are constantly evaluating new, exciting startup ideas that could bridge the gap for our customers while ensuring impactful innovations in our core, especially in the fast-moving fintech space.鈥�

Thierer also points out that partnering with the 51风流ecosystem is critical, and customers are happy about that: 鈥淭his strategy is helping our customers in their journey to become intelligent enterprises while helping us compete better and gain market share in the GRC and finance space.鈥�

However, the relationships need to be effectively managed. It is not easy for startups to work with corporations and vice versa.

鈥淚nnovation between startups and corporates need to be orchestrated and SAP.iO together with the 51风流Startup Engagement team are vital to that,鈥� remarked Thierer. 鈥淭hey made it easy for us to find and engage with the right startups and allowed us to engage with the ecosystem in a professional way.鈥�

In addition to obvious market-based benefits, they also provide more intangible cultural benefits according to Oliver Kroneisen, 聽head of Financials Operations Development at SAP.

鈥淲orking with startups is inspirational,鈥� said Kroneisen. 鈥�51风流employees get a huge motivational boost when they see how positively the startups view 51风流and how eager they are to get the chance to tap into the immense opportunities that the 51风流infrastructure and ecosystem provides. Also, as a manager, it鈥檚 eye-opening to see how these entrepreneurs can instill a sense of meaning and purpose into the work employees do and the impact that has on the outcomes 鈥� especially in the case of troy. Their 鈥榡ust-built-it鈥� mentality shows us how easy it can be to build beautiful solutions when you are not hindered by real or imagined silos. Those are important lessons for 51风流leaders.鈥�

鈥淭he startup founders鈥� spirit and passion for what they do is infectious,鈥� said Jan Gilg, senior vice president and head of 51风流S/4HANA. 鈥淚 really get a sense of their drive and excitement for what they are working on. I was inspired by the fresh perspectives that I saw on standard topics like governance, and I came away with a lot of new insights. One of our big topics at the moment is how we can turn commodity processes into differentiation opportunities and I really felt that the out-of-the box thinking among the GRC and fintech startups is taking this in the right direction. I can鈥檛 wait to see what the next cohort of startups will come up with.鈥�

Working With Startups Challenges Us to Improve 鈥� Fast

51风流would not be where it is if it was not also self-critical. 鈥淲e are always looking for ways to improve our internal processes, organizational structures, and software architecture so that startup collaboration gets easier,鈥� explained Kroneisen. 鈥淲orking with startups helps us uncover areas we need to improve in our cloud business operations.鈥�