Governance, Risk and Compliance Apps from Oracle

Governance, Risk, and Compliance (GRC) are no laughing matter nowadays, with Enron still a prime example. Adhere to regulations like the Sarbanes Oxley Act or you may find your business out of business. Oracle just let us know about the expansion of its GRC applications to help companies effectively manage multiple GRC initiatives across the enterprise. The new application suite manages compliance initiatives in heterogeneous environments, provides increased security through automated, pre-defined ERP controls and intends to provide greater visibility through expanded GRC intelligence. The Oracle GRC application suite combines the heterogeneous compliance and content management capabilities Oracle acquired from the Stellent acquisition with Oracle application controls. With Oracle Fusion GRC Intelligence, the company plans to deliver visibility with role-based intelligence for risk and control performance and aligns GRC initiatives with strategic organizational objectives by tying GRC metrics to strategic planning and budgeting. The Oracle GRC applications suite supports critical cross-industry processes for global trade management, financial compliance, IT governance, workforce governance and supply chain compliance. Best-practice frameworks such as COSO and CoBiT are integrated so that customers can rationalize controls against processes, regulations, objectives and risks within an organizational framework. Oracle’s GRC platform spans security technologies covering identity management, data encryption and label-based security as well as enterprise change management, consolidated and secure data audit and content and records management capabilities to categorize, store, retain and manage critical GRC information. Oracle GRC infrastructure works with Oracle GRC applications. For example, Oracle Database Vault, which restricts privileged user access, is certified to work with Oracle’s PeopleSoft Enterprise applications, providing secure PeopleSoft Enterprise configurations. In addition, Oracle Transparent Data Encryption is certified to work with the Oracle E-Business Suite for protecting the privacy of sensitive application data.