Enterprise Risk and Compliance for Two Tier ERP
Welcome to the Two Tier ERP Blog post for Finance. We will see the new scenarios and accelerators in Finance – Enterprise Risk and Compliance for Two Tier ERP which have come up with the latest offerings of SAP S/4HANA Cloud. If you missed our 2102 innovations in Two Tier ERP click here.
1. Central Privacy Governance
The use of personal information is strictly controlled by various regulations and privacy risks exist when this type of data is collected and processed.
Personal data in SAP applications must be protected according to the data protection laws. This is achieved by blocking and deleting data according to residence and retention rules. Residence rules are set to define the time for which data can stay in the database, after which it is archived. Retention rules are defined to store the archive files for a set amount of time, after which they can be destroyed.
As a supplement to manual governance, the scope item 3KX in SAP S/4HANA Cloud provides setup instructions to SAP BTP and enables the automatic detection of privacy risks for personal information and relevant documents, such as sales order, providing insights on regulatory reporting and proactive auditing.
Use Case: Detection of Sales Order which elapsed retention period
Demo: Creation and Execution of Work Packages
For details on what’s new in SAP Privacy Governance, click here Manual Procedures for Privacy Risks with 2105
2. Central Financial Compliance Management
With SAP Financial Compliance Management, the compliance manager defines controls and procedures to monitor financial operation processes and detect anomalies when connected to the SAP S/4HANA system.
Financial processes generate many documents daily. Aside from manual checking and review, this scope item enables continuous monitoring of transaction information and detects activities that may cause a financial loss. The results from these monitored processes provide insights for the financial process in a company.
Use cases are pre-delivered together with the SAP Financial Compliance Management solution. You can refer the Set-up Instruction of the scope item 3KY in SAP S/4HANA Cloud for how to set it up. They are used as a quick start of your business as well as for demo and education purpose.
Use Case: Check General Journal Entries Entered on Weekends
Demo: Process Issues
Two-Tier ERP Accelerators can be downloaded from best practice explorer and as shown in below screenshot.
For more information, check out the following links:
- Best practices for SAP S/4HANA Cloud here
- Scope Ids –
- Privacy Risk Detection with SAP Privacy Governance (3KX)
- Financial Operation Monitoring with SAP Financial Compliance (3KY)
- SAP S/4HANA Cloud User Community: register here