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Moving to S/4HANA? Why You Need to Automate Controls to Truly Transform Finance

January 3, 2017

Moving to S/4HANA? Why You Need to Automate Controls to Truly Transform Finance

S/4HANA is transforming finance by introducing reinvented processes and real-time insight for higher performance and better decision making. But what many organizations fail to realize is that their financial controls aren’t ready for S/4HANA. And if you’re making the move, you need to determine if you’re prepared for your next audit. The reality is that in order to achieve true transformation, you need to go-live with automated, exception-based controls from Day 1. This minimizes your exposure of significant audit findings and provides you with the confidence that any issues are identified and resolved prior to your audit. This in turn improves the integrity of your business transactions, reduces the risk of fraud, and lowers your cost of compliance.

Reduce Material Risk

We all understand that in business, a certain level of risk is unavoidable… to eliminate it all would limit business productivity. In many cases, the controls that companies put into place to mitigate risk are manually driven, time consuming and costly to enforce. And locating actual exceptions can be like searching for a needle in a haystack. Now there is a way for you to identify every instance where actual violations have materialized, regardless of current or past user access. You can accomplish this by automating your monitoring of all users and business transactions with Access Violation Management (AVM) by Pathlock and the power of SAP HANA.

Quantify Financial Impact from Access Violations

By utilizing AVM, you’ll see your financial exposure of unresolved access risk. You will have an effective risk management strategy supported by accurate risk and threat data so you can drive positive business changes where user access transactions are managed based on business impact, instead of relying on incomplete data from incomplete testing. You can then communicate the financial risks to your organization so your business can eliminate them. AVM enables you to automate the identification and review of materialized access violations across all users and business processes. You’ll be able to assess the financial dollar value of risk by organizational elements and business processes, then deliver actionable reporting that drives timely response by the business to resolve risks. You will have the ability to eliminate manual activities associated with traditional mitigating controls monitoring and auditing. And you’ll be able to improve operational performance by identifying where real threats are so you can repair process breakdowns.

Get Started on the Path to Financial Transformation

If you want to transform your finance while moving to S/4HANA, eliminating those manual and time-consuming processes is critical. With AVM, you’ll be able to identify and resolve all segregation of duties (SoD) and critical action risks in your business over time, regardless of when or how users gained access. It also gives you the ability to monitor critical access to and suspicious activity around PII, financial, and other sensitive data. And you’ll be able to correlate super user access activities over time to identify trends and suspicious activity. Learn more by viewing the on-demand webinar How to Uncover Materialized Access Risks Before Your Move to S/4HANA.