Risk Management

Why SAP Risk Management?

Because the software can help you protect and create value for your stakeholders – from investors to employees and customers. Identify and assess risks and opportunities, determine a response strategy, and monitor progress.

Features of SAP Risk Management

With SAP Risk Management, you can:

  • Identify enterprise risks and align them with business processes that create value
  • Assess and analyse risks in terms of likelihood and magnitude of impact
  • Track risk management effectiveness with embedded reports and analytics
  • Continuously monitor risks using SAP HANA-based key risk indicators (KRIs)

Preserve and grow business value

Get detailed insight into how risk drivers can impact your business value and reputation – with SAP Risk Management software. The powerful ERM tools support risk identification, assessment, analysis, and monitoring. Track key risk indicators (KRIs), align risk events with their potential consequences – and make responsible and defensible risk-aware decisions.

Functional Capabilities

  • Risk strategy and planning: Define risk-relevant business activities, set up your organisational risk hierarchy, and assign risk appetite, risk owners, and responsibilities. Develop risk libraries to structure and report on risk assessment results – and define your KRI framework to automate risk monitoring.
  • Risk identification: Document the potential root causes and consequence of risks – and identify the relationship between risks and events. Capabilities include: defining survey questions, documenting activities, proposing risks, and documenting risks and opportunities.
  • Risk analysis: Run quantitative and qualitative risk analysis to determine the likelihood of occurrence and the potential impact of identified risks. Capabilities include: conducting assessments, building risk scenarios, scenario analysis, performing Monte Carlo simulations, risk response, and documenting responses and enhancement plans.
  • Risk monitoring: Analyse and report on your company’s risk situation. Capabilities include: documenting incidents and losses for risk events.

Technical Capabilities

SAP Risk Management includes enterprise risk content and tools for industry-specific operational risk management.

  • Graphical View: Supports creation and analysis of risks using graphical view
  • Data Monitoring: Monitor application data from internal and external systems in real time
  • Workflow: Use workflow to automate processes

Starter kits:

  • Controls starter kit: Library of standard business controls, basic regulations, and direct entity-level controls
  • ERM starter kit: Library of enterprise risks, risk drivers, and impacts

Automated monitoring:

  • CCM library: Automated continuous controls monitoring
  • KRI library: KRIs organised by risk drivers, risk categories, and industries

 

GRC Nuggets – Ep. 5 – SAP Risk Management – Using Key Risk Indicators (KRIs) to Breakdown the Risk Silos.

In this episode, we how explore how you can overcome the departmental risk silos by using something call KRIs in Risk Management. You can automate the pulling of information from the SAP ERP, or use a Web API to connect to non-SAP systems, or get a representative from one of the Risk Silo’s to manually input data each week/month online or input offline in a template. That way, the critical risk data is aggregated and managed in the same tools, promoting better collaboration and management of risk.

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To see more videos head over to our knowledge section.

Get in touch

If you are needing help to implement or support SAP Risk Management, drop us a line, we’d be delighted to talk to you.