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Businesses use governance, risk, and compliance (GRC) software to help keep them consistently prepared through effective management of various processes and documentation. A growing sea of regulations including SOX, GDPR, and CCPA provide a compliance challenge for businesses. However, businesses can automate their compliance programs through the use of GRC tools, which helps effectively eliminate…

There is no denying that SAP applications make it easy for large organizations in almost every industry to streamline their business processes. However, that ease doesn’t include SAP software license management, which by all accounts, is considered one of the most complex compared to other ERP vendors. This complexity results in companies buying more licenses…

While many organizations rely on SIEM solutions to detect threats that lurk within their IT infrastructure, they are usually blind to user activity within SAP applications. Traditional SIEM tools use defined rules, machine learning, correlation models, and AI to identify relations between the entries and identify anomalies. Unfortunately, this principle cannot be applied to SAP…

Roles and authorizations across ERP applications are constantly changing. This creates new challenges for organizations handling large volumes of data and transactions. Monitoring activities surrounding sensitive data transactions becomes impossible with manual processes when there are hundreds of thousands of user accounts and profiles. Organizations today require Continuous Control Monitoring software (CCM) to filter hundreds…

Manual Processes are Inefficient and Prone to Human Error Today, re-certifying user access is a long, labor-intensive process that can be prone to human error. The process becomes more challenging when you consider that access certification projects are typically executed in multiple siloed campaigns for each business application. Needless to say, the recertification process remains…

Effective management of fraud has long been a vital capability within organizations, and for good reasons. According to the Association of Certified Fraud Examiners’ 2020 global study on occupational fraud and abuse, companies lose an estimated five percent of revenue per year due to fraud. In addition, the median duration of fraud (i.e., the average…

What Is ITGC SOX? Complying with the Sarbanes Oxley Act of 2002 (SOX) requires organizations to record, test, maintain, and review controls affecting financial reporting processes. These internal controls are mechanisms that can identify or prevent problems in business processes, which can affect the accuracy or integrity of financial reports. Companies should apply and review…

What is Segregation of Duties Matrix? The term Segregation of Duties (SoD) refers to a control used to reduce fraudulent activities and errors in financial reporting. While SoD may seem like a simple concept, it can be complex to properly implement. The SoD Matrix can help ensure all accounting responsibilities, roles, or risks are clearly…