Hello and welcome to the release highlights for Governance, Risk, and Compliance (GRC) with SAP S/4HANA Cloud Public Edition 2402. This blog contains selected highlights from SAP Financial Compliance Management, SAP Document and Reporting Compliance, and SAP Cloud Identity Access Governance along with their business benefits and deep-dive system demos.
To get a quick overview of our SAP S/4HANA Cloud Public Edition 2402 highlights for Governance, Risk, and Compliance (GRC), watch this 4-minute video:
Expert Talk: Empower the Intelligent, Sustainable Enterprise with SAP Finance & Risk – 2023 Update
If you are interested in innovations for Finance, please refer to the blog 'Finance in SAP S/4HANA Cloud Public Edition 2402' from UIrich Hauke.
If you are interested in SAP's strategy on how to empower the intelligent, sustainable enterprise with SAP Finance & Risk in a 2023 update, check out this expert talk video with Yannick Peterschmitt, Ulrich Hauke, Christoph Ernst and myself:
Video 1: Expert talk video on how to empower the intelligent, sustainable enterprise with SAP Finance & Risk - 2023 update
SAP Financial Compliance Management is integrated with SAP S/4HANA Cloud, public edition and provides you with the tools to become compliant with internal controls, laws, and regulations that apply to your organization. The solution enables you to document your internal controls framework and manage potential risks to your organization, as well as develop and monitor checks put in place to ensure compliance.
We enhance the core compliance functionalities with a comprehensive risk management framework to outline purpose and benefit of each control, and to provide transparency to the overall process health and compliance.
If you are interested in a system demo of the new risk management functionality, check out this video:
Video 2: Integrated Risk Management with SAP Financial Compliance Management
For more information, see: GRC Risk Service in SAP FCM
With the concept of assurance activity types, the solution allows customers to establish a 3 lines of defence concept (perform, test and assess control).
If you are interested in a system demo of the control assessment functionality, check out this video:
Video 3: Three lines of defense concept thanks to introduction of third assurance activity type 'Control Assessment' in SAP Financial Compliance Management
For more information, see: Assurance Activity
Issue grouping complements the capabilities to manage issues and run remediation activities in more more advanced.
Fig. 1: You can automatically and manually group and ungroup issues in SAP Financial Compliance Management
For more information, see:
The solution comes with a predefined internal control framework which has been extended with additional focus areas such as Environmental, Social and Governance (ESG) and Human Rights Due Diligence for Suppliers in Risky Countries. In addition, a new control around Supplier Duplicate Invoices with additional flexible logic was provided.
Fig. 4: Additional preconfigured controls in new focus areas such as ESG and Human Rights Due Diligence
SAP Cloud Identity Access Governance now has the capability to assist in meeting external audit standards through the support of multiple rulesets. These rulesets can be employed to simplify the external auditor's independent assessment, such as evaluating location-specific Segregation of Duties (SoD) rulesets for employees assigned to specific locations. Additionally, users have the option to define multiple customized rulesets for conducting further analyses.
If you are interested in a system demo of the multiple ruleset functionality, check out this video:
Video 4: Support for Multiple Rulesets in Access Analysis in SAP Cloud Identity Access Governance
For more information, see: Rulesets
Increasing complexity driven by regulations requiring integration with local authorities for electronic documents, statutory reports, validation of VAT registrations and more. SAP Document and Reporting Compliance, cloud edition provides a single channel for all submissions across countries and processes, that can be easily activated and managed leveraging the new scope item 78L.
Fig. 2: Streamlined communication with authorities with SAP Document and Reporting Compliance
For more information, see: Integrating the Cloud Edition with SAP S/4HANA Cloud
If you are interested in a system demo of the functionality for withholding tax items, check out this video:
Video 5: Simplified Review and Clearing of Withholding Tax Items for Reporting with SAP Document and Reporting Compliance
Please note the following functionality is currently only available for early adopter customers:
If you are interested in a system demo of the functionality for the enablement of sales and use tax reporting for the U.S. through SAP Document and Reporting Compliance, check out this video:
Video 6: For early adopters: Sales and Use Tax Reporting for the U.S. with SAP Document and Reporting Compliance
We have added the possibility to include legal control checks for compliance with the international trade regulations during the sales order creation process. In a follow-up step you can analyze and resolve the blocked documents. After the completion of the sales cycle, we have added the option to trigger an Intrastat declaration for the EU-wide business.
Meanwhile, don’t hesitate to leave a comment and check out our new community page to ask your questions and engage with the experts. Follow the PSCC_Enablement tag to stay up to date with our latest blog posts.
This month, we hosted a series of 19 compelling live sessions to highlight the exciting innovations shipped with the SAP S/4HANA Cloud Public Edition 2402 release. Missed the live sessions? No problem! Take advantage of the entire series or pick and choose the sessions most relevant to you on demand.
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