SAP Risk Analysis
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What Is Risk Analysis?
Risk analysis is the assessment of potential risks on the business or market and the likelihood of adverse effects from those events. In a supply chain context, for example, companies model various disruptions to determine their impact and apply risk mitigation strategies to avoid them.
According to Investopedia, risk analysis can be divided between two types: qualitative and quantitative.
Qualitative analysis: Qualitative analysis incorporates a definition of uncertainties, evaluation of the potential impacts, and risk mitigation measures. Examples include SWOT analysis and cause and effect diagrams.
Quantitative analysis: Quantitative analysis relies on statistical modeling and assigning numeric values to potential risks. Within a risk model, those values produce graphical outputs to help determine risk mitigation strategies.
Through both risk analysis approaches, companies can glean an holistic view of their risk profile.
What Is Risk Analysis?
Risk analysis is the assessment of potential risks on the business or market and the likelihood of adverse effects from those events. In a supply chain context, for example, companies model various disruptions to determine their impact and apply risk mitigation strategies to avoid them.
According to Investopedia, risk analysis can be divided between two types: qualitative and quantitative.
Qualitative analysis: Qualitative analysis incorporates a definition of uncertainties, evaluation of the potential impacts, and risk mitigation measures. Examples include SWOT analysis and cause and effect diagrams.
Quantitative analysis: Quantitative analysis relies on statistical modeling and assigning numeric values to potential risks. Within a risk model, those values produce graphical outputs to help determine risk mitigation strategies.
Through both risk analysis approaches, companies can glean an holistic view of their risk profile.
SAP and Risk Management
As more companies migrate to SAP S/4HANA, it’s critical that their risk strategies are integrated within the system. SAP provides risk management solutions that put governance, risk, and compliance at the forefront of business activities.
According to SAP, “stakeholders want to see evidence, on demand and in real time, that an organization which they are backing is managing their financial, social, and environmental activities efficiently, profitably, and responsibly … Any risk management measures must focus on the specific value drivers unique to the business, and these can be difficult for you to identify. Managers must look beyond financial line items to the activities and processes that are integral to the organization’s business model.”
Further Resources for SAPinsiders
Building More Effective Access Control Through Business-Centric GRC. In this article, learn how companies are utilizing access control solutions to identify risk within their user base. These solutions and processes are often technical and driven from audit and IT perspectives with very little input from business users who might find the technical GRC language hard to decipher. That’s where the idea of business-centric GRC comes into play for access control — providing the business with easier to understand, less technical language so that they can better interpret the data.
Application Security Imperiled by Attackers. Application security is being threatened by cyberattacks on the application layer, such as SAP S/4HANA systems, which target valuable resources organizations store there. In this article, learn about new security concepts necessary to protect the “crown jewels” stored in SAP systems. Companies need to deploy real-time detection and response to deal with the rise in attacks against the SAP application layer level.
Vendors that can help SAP customers with risk analysis include: Appsian Security, DXC Technology, EcoVadis, and Onapsis.
828 results
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Understanding SAP S/4HANA Implementation Risks with RSM – Part Five: Data Determines Everything
Reading time: 3 mins
Organizations migrating to SAP S/4HANA must prioritize high data quality, as poor data can lead to implementation delays, inaccurate analytics, and operational inefficiencies; thus investing in data cleansing and validation is crucial for maximizing the platform’s benefits.
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Case Study: Driving Governance at Bridgestone
Reading time: 1 mins
Bridgestone Australia faced challenges in managing financial risk in their SAP system with a growing team. After investigating several options, they discovered Soterion’s Governance Risk Compliance solution which provided a clear picture of their financial risk in the business, enabling the team to present the stats to the risk committee and executive team providing peace…
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Simplifying SAP Security Management with the Xiting Security Platform (XSP)
Reading time: 4 mins
Xiting has launched the Xiting Security Platform (XSP), a cloud-based solution that transforms SAP security management by offering centralized identity management, real-time threat detection, cross-system risk analysis, and license optimization, helping businesses streamline their security operations and respond effectively to evolving cybersecurity threats.
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SAP NetWeaver 7.0 Upgrades: A Project Manager’s Point of View
Reading time: 20 mins
Project managers need to make scope decisions, determine resource needs, and define schedules regarding SAP NetWeaver 7.0 upgrades. Learn how to achieve those goals using the information presented here that is based on SAP-recommended Best Practices and the experience of the author. Key Concept Scope in the area of project management is the breakdown of...…
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Know the Risks and Benefits of 5 Change Validation Options for Interfaces to External Systems
Reading time: 13 mins
You can approach the common task of change validation in SAP ERP HCM in a number of different ways. Deciding among the options depends on the task at hand and the user’s experience, level of skill, and personal preference. See the pros and cons of five common options. Key Concept SAP ERP HCM users are...…
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6 Tips for Going Global with Extra Savoir-Faire
Reading time: 14 mins
Whether you’re just beginning a global project or are already supporting SAP HR in multiple countries, this advice will help keep your project on the right track. Key Concept A global template is a design document for the footprint of a globally configured SAP HR system normally created by the core global SAP HR configuration...…
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Issue Certificates of Origin by Using Preference Processing Functionality in SAP BusinessObjects Global Trade Services 8.0
Reading time: 12 mins
Learn how SAP BusinessObjects Global Trade Services issues certificates of origin or vendor declarations for claiming reduced customs duties on your products subject to North American Free Trade Agreement (NAFTA) or European Union (EU) trade regulations. See how the enhanced archiving capabilities for preference determination are used for audits. Also, learn what preference processing configuration...…
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Continuous Monitoring: Match Your Business Needs with the Right Technique
Reading time: 9 mins
See how continuous monitoring techniques such as continuous transaction monitoring (CTM) and continuous control monitoring (CCM) can help you maximize risk coverage while minimizing your efforts to operate and evaluate controls. SAP offers two continuous monitoring tools. Understand which organizational goals can be accomplished through use of SAP Process Control, a CCM tool, and use...…
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