So it’s Day 2 at the SAP Insider GRC 2010 event in Barcelona and the conference is now into full swing! We’ve gotten a great turnout this year and in talking to attendees, everyone seems exceptionally pleased with all the great educational offerings!
I just had the opportunity to sit in on the GRC keynote address featuring Jim Dunham, the Group Vice President of SAP BusinessObjects GRC Solutions, who talked about SAP’s direction for the company’s GRC solution portfolio in 2011. I caught up with a few of the attendees after the presentation, and got a very positive response on how SAP is moving forward with a much more integrated, and comprehensive approach to GRC.
One of the coolest features during the presentation was the online polling that Jim included, adding the opportunity to better gage where the audience is in terms of their GRC programs and initiatives. Based on the results of that poll, the majority of the audience indicated that exposure, cost, and the risk of non-compliance are the key drivers behind their organization’s GRC initiatives.
When the audience was asked what stage of the GRC Maturity Model they expect to be at in the next 2-3 years, 65% indicated that their GRC activities will go beyond the first 2 stages which include the manual, and individual management of GRC processes, and will take their GRC activities to an enterprise level, which represents a more consolidated, cost efficient approach to GRC. It’s great to hear so many companies are planning to take the next step in how they manage their GRC activities.
Jim’s session provided great insi
ght into the offerings that SAP provides in the GRC space and how its solutions offer an enterprise GRC approach (utilizing process control and risk management solutions), a more complete continuous controls monitoring solution (utilizing the process control and access control tools), and more effective ways to achieve operational compliance (utilizing sustainability performance management, global trade services, and environmental, health, and safety tools). During the session, we heard first hand what types of benefits an organization can realize by taking on this non-fragmented, holistic approach to GRC including a reduced cost of compliance, risk and audit activities via automation, a lower rate of risk events and compliance violations, and increased efficiency of compliance, risk and audit activities.
What a great keynote address! I’m looking forward to hearing more about SAP’s approach to GRC throughout the rest of the event!