Newsbyte: SAP Propels Sybase to Winning OCEG 2012 GRC Achievement Award and Principled Performance Prize
WALLDORF, Germany, June 6, 2012 /PRNewswire/ -- SAP NEWSBYTE -- SAP AG (NYSE: SAP) today announced that Sybase, an SAP company, has received the Open Compliance and Ethics Group (OCEG) 2012 GRC Achievement Award and Principled Performance Prize for implementing SAP governance, risk, and compliance (GRC) solutions. These recognitions underscore how SAP gives customers the ability to implement successful GRC programs, in addition to setting an example for best practices. OCEG, a nonprofit organization dedicated to improving GRC programs, presented the annual awards at the Compliance Week conference in Washington, D.C., on June 5.
Sybase finished in first place by also being selected for the Principled Performance Prize. OCEG recognized the company's multi-year undertaking to make risk management, regulatory compliance and safe, productive operations more efficient by utilizing SAP GRC solutions. The goal of the project was to create a framework that would help improve overall company performance by:
- Integrating GRC principles within existing management structures
- Enhancing management thinking around risk with a refined GRC methodology
- Providing improved analyses across the organization with automated GRC processes
Using the risk management module for the 10.0 version of SAP GRC solutions, Sybase linked risks and controls for data privacy and security to meet its customers' requirements for mobile commerce compliance. Sybase can now define risk drivers and indicators, as well as provide valuable reports and analyses that positively impact revenue and reduce risk incidents. Sybase also uses the SAP® Risk Management application, the SAP® Process Control application and auditing capabilities in the SAP NetWeaver® platform.
"Sybase's nomination was notable for the way in which the company outlined five years of continual improvement, applying guidance described in the OCEG Red Book to enable that improvement," said Brian Barnier, chair of the OCEG Achievement Awards evaluation panel and principal analyst at ValueBridge Advisors. "Most important was the focus on driving improved business performance led by integrity. Sybase's analyses demonstrated how they used risk management approaches to turn potentially adverse situations into opportunities."
"For the past five years, Sybase has worked to create company performance that is led by integrity," said John Chen, CEO, Sybase. "To achieve this, we needed internal audit capabilities that integrated GRC principles within existing management structures. We are honored OCEG has recognized our implementation of SAP GRC solutions. It underscores our commitment to supporting a collaborative approach to risk across business functions."
For additional information on Sybase's integration of SAP GRC solutions, watch "Sybase OCEG Nomination Video Featuring John Chen." For more information, visit the SAP Newsroom. Follow SAP on Twitter at @sapnews and @sapgrc.
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SOURCE SAP AG