What do today’s Aerospace & Defense companies worry about when it comes to Global Risk and Compliance (GRC)?
We have found that the various stakeholders share these pain points
They lack automated controls to protect export controlled data and intellectual property. Who are the stakeholders in A&D GRC scenarios (and many other related industries)?
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What are the GRC Implications?
- An inability to control who has access to what across multiple systems
- An inability to effectively protect sensitive data and intellectual property
- An inability to comply with export controls such as ITAR for technical data
SAP GRC Strategy Implications
A&D companies have weak governance of key processes (e.g. financial) and management of risk across the organization.
What are the GRC Implications?
- Lack of confidence of being compliant
- Costly and error prone manual processes
- Lack of insight into overall risk exposure and risk mitigation strategies across the company
They deploy inefficient management of Environmental, Health and Safety (EH&S) regulations.
What are the GRC Implications?
- Costly and error prone manual processes
- Higher than necessary energy costs
- Inefficient Global Trade Processes
What are the GRC Implications?
- Inability to prove compliance towards export regulations such as ITAR
- Longer outbound and inbound lead-times
- Higher duty, transportation, forwarding and brokerage costs
- Potential loss of import/export privilege and potential brand damage
So what is Risk and Compliance Management? Risk and Compliance Management is a set of end-to-end, cross-functional processes which connect processes across departments to enable a timely, profitable response to customer demand.
How can you leverage tight GRC controls? What are some of the expected benefits of solid GRC controls?
First, you should maintain tight controls around business critical data.
What are the expected Benefits
- Effective and consistent management of identities, roles and data security
- Stay compliant with technical data requirements in export regulations such as ITAR
- Lower risk for intellectual property loss
Take measures to manage risk exposure and ensure financial compliance
What are the expected Benefits
- Achieve SOX compliance with confidence by applying strict process controls around financial processes including ensuring effective Segregation of Duties (SOD)
- Improved corporate performance by proactive management of critical risks
You will be able to run a more Safe and Sustainable Business
What are the expected Benefits
- Lowered costs by reducing carbon emissions and reducing energy consumptions
- Embedded environmental compliance in your product lifecycle processes
- Enhanced brand image
Of course, all of these problems and solutions require a solid underlying data warehouse and the appropriate SAP compliance management GRC solution in order for you to realize the full benefits of effective GRC processes. We can help with SAP A&D GRC Design and Implementation while avoiding the typical project management pain points. Let's help you experience pain-free SAP GRC access control.
