Maintaining compliance in the utilities industry can be a challenging task. Many utilities companies operate in regions with complex and ever-changing regulatory requirements and non-compliance can lead to large fines and reputational damage. SAP Governance, Risk, and Compliance (GRC) solutions are designed to handle these complex regulatory frameworks. Read on to learn how acentauri digital can ensure compliance with SRP GRC in the utilities industry.
What is SAP GRC?
SAP Governance, Risk, and Compliance (GRC) is a specific strategy and structure that keeps an organization secure and on track. Governance defines principles and agreements that the structure needs to abide by. Risk management identifies possible threats and integrates processes that could protect against those threats. The compliance piece ensures the organization adheres to those regulations and proper accounting and ethical standards are upheld. In the SAP industry, a GRC framework puts all of these together to help keep an organization secure, on track, and in compliance.
Automated Compliance Checks
One way you can ensure compliance with SRP GRC in the utilities industry is through automated compliance checks. Automated compliance checks are built into GRC solutions to help you stay in compliance. Even if you have all the processes in place to stay in compliance, sometimes something will go wrong or regulations will change and your systems will function in ways that are not in compliance. Through automated compliance checks, you will routinely be able to check if you are in compliance. This also will allow you to fix noncompliance because you will be aware if there ever is a problem.
Real-Time Visibility
Another great way to ensure compliance with SRP GRC in the utilities industry is through real-time visibility. Features with the GRC system allow you to consistently monitor and be aware of what is going on in your utilities systems. With constant real-time visibility, you’ll be able to see if something is ever operating out of compliance, when it gets fixed, and when you are back in compliance. Real-time visibility can help you check to see if you are in compliance. It can also help you check to see if fixes you made to your system are functioning as they should be to get you back in compliance.
Continuous Monitoring
Continuous monitoring is another way you can ensure compliance with SRP GRC in the utilities industry. If you are always aware of what is happening in your utilities systems, you can know at any given minute if you are in compliance or not. This knowledge can help you stay in compliance. It can also help you immediately fix noncompliance if the systems are ever operating in ways that are not up to the regulatory requirements. Continuous monitoring can empower you to stay in compliance.
SAP GRC helps utilities adapt efficiently to regulatory changes and maintain compliance across all operations. Acentuari digital is the leading expert in SAP, including SAP GRC. We help utilities companies integrate SAP GRC into their systems, establishing a robust framework that safeguards your organization against compliance risks. Contact us today to learn more. We can help you navigate the regulatory complexities of the utilities industry!
