© 2018 SAP SE. All rights reserved. SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see http://www.sap.com/corporate-en/legal/copyright/index.epx#trademark for additional trademark information and notices.For customers interested in learning more about SAP products: Global Customer Center: +49 180 534-34-24United States Only: 1 (800) 872-1SAP (1-800-872-1727) For more information, press only: Fiona Ashby, SAP, +44 (0)7775011910, email@example.com, GMT +1 SAP News Center press room; firstname.lastname@example.org Randi Casciano, PAN Communications, +1 (617) 502-4328, email@example.com, ET View original content with multimedia: http://www.prnewswire.com/news-releases/sap-introduces-business-integrity-screening-solution-to-reduce-risks-in-financial-transactions-300594191.html SOURCE SAP SE
WALLDORF, Germany, Feb. 13, 2018 /PRNewswire/ -- SAP SE (NYSE: SAP) has introduced SAP® Business Integrity Screening, an application that helps reduce financial risk within business transactions. It analyzes data for suspicious transactions and patterns in real time to spot exceptions, potential fraud and compliance failures. This automation results in major efficiency gains and cost savings.The flexible platform, powered by SAP HANA®, allows organizations to address compliance assurance across a broad range of scenarios by detecting anomalous transactions early, before financial losses occur, and predicting or preventing future occurrences. The application also screens business entities and individuals against blacklisted or high-risk parties to reduce the risk of conducting business with such parties. All these features reduce the cost associated with investigations and compliance breaches. With the rise of the digital economy, businesses are susceptible to new points of entry for potential fraud and other risks each day. Current detection measures leave investigators with too many false positives and more work than existing processes can support. Risk and compliance teams need to screen external partners to identify exposure to commercial and reputation risks as well as compliance issues. To efficiently protect the integrity of business processes, organizations must also improve the accuracy of exception detection in all transactions. "The price for failing to properly screen the integrity of business activities can be steep," said Thack Brown, SAP general manager and global head of LoB Finance. "At SAP, we are dedicated to helping businesses run better, and mitigating risk is a critical part of that. Our new business integrity capabilities not only allow us to help spot, reduce and prevent fraud and other irregularities but also help our customers better identify the integrity of the third parties they conduct business with." Flexible Platform Allows Easy Integration SAP Business Integrity Screening is an end-to-end solution combining analytical capabilities with a holistic process that detects potential exceptions early to minimize financial losses. The flexible platform enables organizations to define rules that address a wide variety of scenarios such as insurance fraud, tax audits, antibribery and the Foreign Corrupt Practices Act (FCPA), utility theft, partner screening, internal audit automation, travel and entertainment expenses, invoice payments and public-sector disbursements. It can integrate with other software, including SAP Predictive Analytics and the SAP ERP, SAP Process Control, and SAP Audit Management applications, to help conduct end-to-end case investigations, support alert notification and issue management, and strengthen overall compliance initiatives. "The digital economy continues to put pressure on our clients to elevate their compliance and antifraud programs toward an integrated continuous monitoring approach," said EY's Stefan Schaffer, partner and head of the Global Center of Excellence for SAP Business Integrity Screening. "Using SAP Business Integrity Screening, EY and our clients are developing targeted solutions that leverage advanced analytics to more effectively detect external and internal fraud, automatically monitor compliance and successfully eliminate errors and waste." Visit the SAP News Center. Follow SAP on Twitter at @sapnews. About SAPAs market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to storefront, desktop to mobile device - SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable more than 378,000 business and public sector customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap.com. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.