|[April 05, 2011]
Latest SAS® Enterprise Governance, Risk and Compliance (GRC) Solution Empowers Compliance Officers, Auditors
CARY, N.C. --(Business Wire)--
Building company trust through collaboration cannot be sacrificed due to
compliance and regulatory demands. With an integrated platform for
comprehensive and continuous monitoring of risk and compliance
exposures, the latest version of SAS
Enterprise GRC helps busy compliance officers do more in less time
while providing peace of mind to corporate executives and board members
looking to avoid serious regulatory violations and enforcement actions.
Enhancements from the leader in business
analytics software and services include a single corporate policy
repository, a faster one-stop audit system and an updated comprehensive
GRC program view.
Forrester (News - Alert)1 predicts that in "the next 12 months … business
intelligence and data governance will factor more prominently in GRC
decisions. As a framework for coordination and as a technology, the
value of GRC comes from the ability to aggregate and analyze information
from across an organization."
SAS (News - Alert) software's highly flexible and integrated architecture, unparalleled
in the GRC analytics market, continues to improve data management with
the latest version. The revised policy management capability includes
configurable workflow, helping users create and maintain a single
corporate policy repository. Automatically updated on all changes to
laws and regulations, the repository saves valuable staff time
previously spent researching regulatory changes and their impact.
Compliance officers can now devote time to advisory demands such as
training and process improvement.
The single system for planning and reporting on audits greatly reduces
time spent consolidating multiple files and sources. Comprehensive,
continuous auditing capabilities empower efficient testing of all
disparate data. Auditors can create projects together online to address
issues and plans using streamlining capabilities such as automatic task
notifications and real-time responses.
A single mouse click now provides a comprehensive 360 degree view of an
organization's GRC program, including relationships among variables such
as risk, business objectives, controls, issues, loss events, action
plans, contracts, and policies This visualization saves time tracing
and explaining key linkages that directly affect performance, risk
exposures, and internal control effectiveness. The ability to inform
executives and board members of current business status and easily show
step by step how business is controlled supports efficient decision
making and proactive monitoring.
Vattenfall gains holistic risk perspective
Leading organizations selecting
SAS Enterprise GRC to holistically understand enterprise risks and
opportunities include Vattenfall, Europe's fifth largest generator of
electricity, and its largest generator of heat.
"It's not only about operational risks," said Dan Mansfeld, Risk Manager
at Vattenfall. "When I say enterprise risk management, I mean the entire
perspective. Besides operational risks, we include political risks,
legal risks and market risks - we want to gather them all under one
roof. We had several functions and areas within the corporation that
would benefit from the solution, and we needed a platform that could
scale to other areas of the company as well - for example, incident
crisis management and environmental risks."
Vattenfall, which began its SAS implementation with financial risk and
is expanding to other areas, manages about 1,000 risk measures in the
system with around 200 users.
"We didn't have a system for passing on the tasks or assignments to the
different roles or users in the system," said Mansfeld. "That is
definitely a strength of the SAS solution. We have a better picture of
the entire risk database all in one place. Also, SAS is very strong in
reporting, and we saw a huge potential for providing management with
reports that they can drill into to get more detailed information, at
various levels, to understand how the company or their unit is doing."
SAS on Leadership Council
SAS' commitment is demonstrated by increased participation in the Open
Compliance and Ethics Group (OCEG), which plays a critical role in
developing structure and best practices for diverse areas of GRC.
Already on the OCEG Technology Council, SAS will now sit on the
Leadership Council, which formulates positions on key issues, refines
the core GRC Capability Model and steers the continuously evolving GRC
discipline. SAS' collaboration with OCEG channels global customers'
views into OCEG processes and contributes to expanding technology
support for enhanced GRC best practices.
"We are very excited about SAS joining our Leadership Council," said
Carole Switzer, OCEG President. "We look forward to a drawing on the
expertise SAS brings to our work, especially as we seek to drive our
members toward use of stronger analytics in the GRC space. The knowledge
and solutions that SAS brings to the GRC community will support our
overall mission of improving business process, and driving what we at
OCEG call 'principled performance'."
"SAS has moved quickly to address core GRC market needs, delivering
data-driven, risk-based auditing, coupled with continuous compliance and
corporate performance monitoring through powerful business analytics and
interactive reporting," said Clark Abrahams, SAS Product Marketing
Manager for Enterprise GRC.
Today's announcement was made at SAS
Global Forum, the world's largest gathering of SAS users, attended
by more than 3,500 business and IT users of SAS software and solutions.
1. Governance, Risk, and Compliance Predictions: 2011 And Beyond,
Forrester Research (News - Alert), Inc., December 6, 2010.
SAS is the leader in business
analytics software and services, and the largest independent vendor
in the business intelligence market. Through innovative solutions
delivered within an integrated framework, SAS helps customers at more
than 50,000 sites improve performance and deliver value by making better
decisions faster. Since 1976 SAS has been giving customers around the
world THE POWER TO KNOW®. SAS and all other SAS Institute
Inc. product or service names are registered trademarks or trademarks of
SAS Institute Inc. in the USA and other countries. ® indicates USA
registration. Other brand and product names are trademarks of their
respective companies. Copyright © 2011 SAS Institute Inc. All
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