SAP launches Enterprise Risk Management application   21st May 2007 SAP has launched a new application, SAP GRC Risk Management, that provides organisations with an integrated framework to identify and manage enterprise risk in the context of corporate strategy and business performance. The move is part of SAP's continuing efforts to extend its capability across the finance function. According to SAP, managing enterprise risk in a consistent, efficient, sustainable manner has become a critical boardroom priority as CFOs and chief risk officers (CROs) are facing unprecedented levels of business complexity, changing geopolitical threats, new regulations and legislation, and increasing shareholders demands. According to a recent Deloitte report, titled “Disarming the Value Killers: A Risk Management Study,” nearly half of the Fortune 1000 companies lost 20 percent of their stock value as a result of a significant business event, with half of those companies requiring greater than one year to regain lost value; more than one-fifth of those companies never recovered. SAP GRC Risk Management enables organisations to guide risk appetite and threshold planning, identify and analyse risks, balance the costs of risk avoidance with opportunities for growth and continuously monitor risk profiles over time. The new risk management application from SAP is a key component of the company's growing portfolio of solutions for governance, risk and compliance (SAP solutions for GRC), and supports SAP's multi-year plan to address the increasingly strategic role of the CFO in driving business performance. “Historically, risk management has often been a fragmented operation, particularly for large, distributed global businesses,” wrote Michael Rasmussen, vice president, Forrester Research, in his February 2007 report “Business Drivers For Enterprise Risk Management.” “Individual silos of risk management have emerged in enterprises worldwide as they react to mounting pressures, including dynamic and distributed business environments, changing geopolitical threats, and new legislation… Today, executives are trying to establish a more consistent approach to risk management throughout the enterprise that will help aggregate better data for decision-making... A federated approach to measuring and managing risk is clearly beneficial for large enterprises.” SAP GRC Risk Management enables organisations to implement proactive risk management processes throughout the enterprise. The application provides a best-practice framework for enterprise risk identification, collaborative risk analysis, risk-response management and continuous risk monitoring and reporting.
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