How do you ensure your processes help you meet the Business Integrity standards set for your organization?
Organizations have different initiatives when it comes to ensuring sound Business Integrity, and they could range from basic scenarios requiring personnel compliance with internal policies to more complex cases such as ensuring that the organization only deal with reputable vendors and partners, or detecting suspicious transactions or trends that might be early indicators of fraudulent activities.
The data to be analyzed for such a wide range of scenarios could reside in an organization’s internal systems (ERP, CRM, etc), and/or come from external sources that complement the internal systems. Examples of external data include content such as High-risk Country Lists, Sanctioned Party Lists, Politically Exposed Person Lists, and so on. This data can be obtained from government and non-profit organizations, as well as purchased from specialized data providers.
What Type of Solution Could Help You Address These Requirements?
The ideal solution to handle all these different scenarios addressing the Business Integrity requirements of an organization needs to be able to analyze internal transactions, master data, and any external data relevant to such scenarios in a high-data-volume environment, with multiple and heterogenous data sources.
To provide such a solution, SAP will soon offer SAP Fraud Management (FM) and SAP Business Partner Screening (BPS) as a single SAP HANA-based solution. Since both FM and BPS already share the same SAP HANA platform and user interface, delivering a seamless out-of-the-box integration of two complementary solutions will provide a Business Integrity solution that can addresses the wide range of scenarios organizations typically encounter in this area.
This integrated solution will allow organizations to first screen any entities they might do business with to ensure they don’t deal with any blocked or potentially negative individuals or companies (leveraging the robust screening capabilities of BPS), and then analyze all the relevant transactions from multiple internal and external sources for suspicious activities and trends (leveraging the core functionality of FM).
Additional details about this Business Integrity solution will be announced shortly.
In the meantime, learn more about SAP Fraud Management and how it could help your organization address fraud and non-fraud scenarios involving large volumes of transactional data that need to be analyzed for exceptions. And for more on auditing topics, read all our GRC blogs.