WALLDORF, Germany, Feb. 13, 2018 /PRNewswire/ -- SAP SE
(NYSE: SAP) has introduced SAP® Business Integrity Screening, an
application that helps reduce financial risk within business
transactions. It analyzes data for suspicious transactions and
patterns in real time to spot exceptions, potential fraud and
compliance failures. This automation results in major efficiency
gains and cost savings.
The flexible platform, powered by SAP HANA®, allows
organizations to address compliance assurance across a broad range
of scenarios by detecting anomalous transactions early, before
financial losses occur, and predicting or preventing future
occurrences. The application also screens business entities and
individuals against blacklisted or high-risk parties to reduce the
risk of conducting business with such parties. All these features
reduce the cost associated with investigations and compliance
breaches.
With the rise of the digital economy, businesses are susceptible
to new points of entry for potential fraud and other risks each
day. Current detection measures leave investigators with too many
false positives and more work than existing processes can support.
Risk and compliance teams need to screen external partners to
identify exposure to commercial and reputation risks as well as
compliance issues. To efficiently protect the integrity of business
processes, organizations must also improve the accuracy of
exception detection in all transactions.
"The price for failing to properly screen the integrity of
business activities can be steep," said Thack Brown, SAP general manager and global head
of LoB Finance. "At SAP, we are dedicated to helping businesses run
better, and mitigating risk is a critical part of that. Our new
business integrity capabilities not only allow us to help spot,
reduce and prevent fraud and other irregularities but also help our
customers better identify the integrity of the third parties they
conduct business with."
Flexible Platform Allows Easy Integration
SAP Business Integrity Screening is an end-to-end solution
combining analytical capabilities with a holistic process that
detects potential exceptions early to minimize financial losses.
The flexible platform enables organizations to define rules that
address a wide variety of scenarios such as insurance fraud, tax
audits, antibribery and the Foreign Corrupt Practices Act (FCPA),
utility theft, partner screening, internal audit automation, travel
and entertainment expenses, invoice payments and public-sector
disbursements. It can integrate with other software, including SAP
Predictive Analytics and the SAP ERP, SAP Process Control, and SAP
Audit Management applications, to help conduct end-to-end case
investigations, support alert notification and issue management,
and strengthen overall compliance initiatives.
"The digital economy continues to put pressure on our clients to
elevate their compliance and antifraud programs toward an
integrated continuous monitoring approach," said EY's Stefan Schaffer, partner and head of the Global
Center of Excellence for SAP Business Integrity Screening. "Using
SAP Business Integrity Screening, EY and our clients are developing
targeted solutions that leverage advanced analytics to more
effectively detect external and internal fraud, automatically
monitor compliance and successfully eliminate errors and
waste."
Visit the SAP News Center. Follow SAP on Twitter at
@sapnews.
About SAP
As market leader in enterprise application
software, SAP (NYSE: SAP) helps companies of all sizes and
industries run better. From back office to boardroom, warehouse to
storefront, desktop to mobile device – SAP empowers people and
organizations to work together more efficiently and use business
insight more effectively to stay ahead of the competition. SAP
applications and services enable more than 378,000 business and
public sector customers to operate profitably, adapt continuously,
and grow sustainably. For more information, visit www.sap.com.
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For more information, press only:
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