• It is a SAP on Premise Application that belongs to the SAP GRC product group, among its basic functionality it allows:
• Execute Risk Analysis through Heat Maps, which in turn can be sectioned by: Organization, Objectives, Initiatives and Activities.
• Hot Maps can help us locate which business areas are more or less susceptible to risk.
• It is also possible to make Risk Assessments by Probability vs Impact, using Qualitative, Quantitative or Mixed variables.
• Regulations such as Basel III, SOX and ITIL suggest documenting losses that occur in internal or external incidents to measure their impact through Inherent Risk, Residual Risk and Residual Risk Plan.
• And as a compensation measure, it allows measuring the impact of the implementation of Remediation or Mitigation Plans on Inherent Risk, Residual Risk and Residual Risk Plan.
• Another important function in the SAP Risk Management Application is the notification and monitoring of possible risk occurrences through Key Risk Indicators through the use of Query Thresholds and Tables located in SAP Business Suite or SAP S/4 HANA. .
• The prediction of Risk events is also possible through Monte Carlo Simulation, where a set of risks that are linked to each other are selected and it is possible to measure a chain effect in the occurrence of Risks.
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