New SAP GRC Solns To Help Mitigate Global Supply Chain Trade Risk
The new application automates regulatory compliance across numerous trade processes such as logistics and order fulfillment, helping customers to identify and mitigate supply chain risk easily.
The current economic downturn, combined with an increasingly complex global business and regulatory environment, has left international businesses more vulnerable than ever to supply chain risk, and it is imperative that they find better ways to manage that risk.
SAP AG has announced a new version of the SAP BusinessObjects Global Trade Services application, part of the SAP BusinessObjects governance, risk, and compliance (GRC) family of solutions. Combined with the SAP BusinessObjects Risk Management application, also an SAP BusinessObjects GRC solution, the new application automates regulatory compliance across numerous trade processes such as logistics and order fulfillment, helping customers to identify and mitigate supply chain risk easily and effectively.
The SAP BusinessObjects GRC family of solutions promotes a unified approach to addressing compliance issues across lines of business, regions and industries. Today's announcement enhances these solutions by helping companies address supply chain risk and improve performance.
Supply chain and logistics professionals need solutions that help them increase their control over risk factors that impact operational efficiency. By leveraging SAP BusinessObjects Global Trade Services with SAP BusinessObjects Risk Management, supply chain executives improve their visibility and management of global trade risk factors and performance issues.
The comprehensive global trade services and risk management approach offered by SAP also helps customers determine if their suppliers are Authorised Economic Operator (AEO) certified, meaning that suppliers' business transactions have been certified to be safe and transparent according to international trade standards. If an issue arises, customers are notified, thus helping to minimise some potential supply chain disruption and expedite the flow of goods through ports worldwide.
"Supply chain risk has become a top challenge for companies worldwide, and without a unified GRC approach these issues can spiral out of control if they are not proactively managed," said Narina Sippy, senior vice president and general manager, GRC Solutions, SAP BusinessObjects division. "SAP recognises that a company's ability to meet its corporate objectives - ranging from revenue to customer satisfaction to sustainability goals - may hinge on how well it can identify and mitigate supply chain risk. That's why the SAP BusinessObjects GRC offerings are designed to help proactively flag supply chain risks and vulnerabilities, empowering business users with the information they need to help develop an immediate plan of action to respond to a potential crisis across their global trade operations. With the insight provided by our solutions, companies may develop more risk-aware, productive business strategies and promote consistent execution upon them."
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