SAP SOX Compliance Problem
The Sarbanes-Oxley Act (SOX) was enacted as a response to a number of major corporate and accounting scandals happened in 2001 and 2002. It requires that publicly traded companies ensure proper monitoring and management of their internal business processes. Financial reporting is driven by the IT systems, so they have to be configured and maintained properly. The Securities and Exchange Commission (SEC) has identified five areas that need to be addressed to meet the SOX internal control requirements and ensure the SOX compliance; two of them are risk assessment and monitoring.
Traditional solutions like Vulnerability Management tools rarely address the SOX requirements at the application layer and access to particular functionality inside such applications as SAP. In other words, your business is not protected the way it should be.
SAP SOX Compliance Solutions
If your company is publicly traded, ERPScan can help you with the SOX compliance in the ERP systems and mission-critical applications you use. ERPScan, a multi-layer security monitoring suite for SAP and Oracle, takes care of business and technical layers, controls security settings in various systems, and analyzes them according to compliance guidelines. ERPScan enables companies to face the SOX compliance challenges and significantly reduce the costs of compliance. Using ERPScan’s preconfigured templates for the SOX compliance, companies can customize and assess their systems in line with the SOX requirements, and schedule monitoring for these areas. With our help, you can review the SOX compliance with any level of detail and easily provide the proof of proper internal control to external auditors.
ERPScan Smart Cybersecurity Platform for SAP is equipped with preconfigured and customizable templates for security checks with regard to:
- The SOX compliance controls
- TOP 20 SoD controls
- ISACA Guidelines for Revenue, Expenditure, Inventory and Financial Accounting, and Fixed Assets
ERPScan Smart Cybersecurity Platform for SAP was awarded as the Best Solution for SOX Compliance at Hot Companies and Best Products Awards 2015 and distinguished in IT Products and Services for Enterprise at Hot Companies and Best Products Awards 2014 along with 25+ other awards.