Integrated GRC Application Suite Reduces Fraud, Regulatory Risks, and Waste
By Tony Ouk on Dec 14, 2009
Oracle's new Enterprise Governance, Risk, and Compliance Application Suite--the industry's first integrated GRC platform--offers a complete, end-to-end solution for GRC needs.
The latest release, Oracle Enterprise GRC Controls Suite 8.5, combined with Oracle Enterprise GRC Manager delivers a unique, closed-loop approach to regulatory compliance, risk management, and continuous controls monitoring. Organizations can align the identification, assessment, and prioritization of risks with the ideal risk treatment through a combination of both manual and automated controls. This integrated approach offers organizations an enterprise understanding of which risks are critical and enables an immediate and coordinated response.
The Oracle Enterprise GRC Controls Suite includes a unique module called Oracle Enterprise Transaction Controls Governor, which for the first time in a GRC solution, uses specially designed algorithms. Algorithms and pattern analysis automatically analyze transactions for anomalies with internal policies, which might be signs of fraud, regulatory-compliance breakdowns, or errors that could result in significant cash leakage.
"With this module, exposure to fraud and waste can be limited via a business rules engine that programmatically looks for violations and anomalies in applications. Detection of out-of-policy transactions protect companies' processes and operations, and enable the business to contain issues before they swell up to become large-scale losses," says Stephanie Maziol, product marketing director for Oracle GRC Applications.
Also expected in the Oracle Enterprise GRC Controls Suite release is the new version of Oracle Application Access Control Governor, which uses graphical modeling tools to depict access points, detect segregation-of-duties conflicts, and evaluate treatment options. The graphics created by Access Control Governor are designed to make it easy for managers to preview the effects of cleanup and advise on the best remediation.
For more information, visit the Oracle Governance, Risk, and Compliance website.