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GRC in the Digital Age

by Nicole D'Angelo, SAPinsider Assistant Editor

October 26, 2016

Implementing strong governance, risk, and compliance (GRC) practices doesn’t involve one solution, one policy, or one team: It involves a collection of solutions, policies, and teams that work together to address the many concerns that make up GRC.

As businesses change in the wake of disruptive technologies, each of the three prongs of GRC faces its own challenges. Data governance becomes more difficult in the face of exponential data growth. One of the greatest risks of any digital enterprise is cybercrime, and preventing it becomes more challenging as hackers grow smarter. And the regulation compliance landscape is constantly changing, making it a challenge for organizations to keep up.

As GRC challenges mount, it is more important than ever to have a robust GRC platform. Everyone has seen stories in the news that illustrate what happens when a company is hacked, or  knowingly or unknowingly skirts regulations. It’s hard to tell what’s worse – the loss of money or the negative publicity that follows.

So how can you strengthen your GRC strategies? Read the articles in the “GRC in the Digital Age” special report from SAPinsider to help you get started. It collects six insightful articles that present strategies suitable for all three areas of GRC.

Governance:

4 Steps to Build a Business Case for Data GovernanceStakeholders need to hear a clear and persuasive case if they’re going to invest in the comprehensive data governance technologies you need. Learn how to craft a convincing business case in support of strong data governance.

Putting a Plan in Place: How the Business and IT Can Work Together on a Data Retention Policy A data retention policy is a critical first step for complying with retention requirements and avoiding penalties. This article explores best practices for how and when to apply data retention rules in SAP systems.

Risk:

Keeping up with the GRC Demands of the Digital Age With borderless networks and an abundance of data for hackers to target, risk management initiatives have new prerogatives — and new challenges. Learn how SAP is addressing the GRC challenges of today’s digital enterprises.

Debunking Access Control Myth: 5 Myths that Could Cost You Money When it comes to access control, there are a lot of inaccuracies and misunderstandings out there. This article lists the five most common access control myths to avoid in SAP environments.  

Compliance:

Can Your Business Keep Up with Rapidly Changing Sales Tax Regulations? New legislation and increasing complexity driven by ecommerce are making sales tax compliance more difficult to navigate. Learn how you can minimize tax risk with a cloud-based approach to sales tax compliance for SAP landscapes.

The Need for Real-Time Insights and Alignment for True Governance and Compliance — Auditing is essential for risk management and compliance, but as IT landscapes grow bigger and new technologies introduce new vulnerabilities, thorough audits grow more difficult. Discover how automation and modern GRC solutions for SAP environments can help you meet these challenges.

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