SAP AG.

SAP AG has created a new business unit "to empower customers with end-to-end solutions for governance, risk management and compliance (GRC), offering a holistic alternative to the fragmented GRC point solutions available in the market," the giant enterprise software firm said in an announcement.

The new dedicated unit, announced in May, aims to helping companies make GRC an integral part of their business and IT strategies. It leverages SAP's "deep expertise and existing software for wide-reaching compliance requirements such as the Sarbanes-Oxley Act in the United States; applications such as SAP[R] Global Trade Services to help companies across diverse industries manage international trade compliance challenges; and solutions for distinct industry demands, including emissions standards in chemicals and utilities sectors, FDA requirements for pharmaceutical companies and Basel II for the banking sector," the company said.

Building on this portfolio of horizontal and industry-specific compliance software, the now-completed acquisition of Virsa Systems Inc. boosts SAP's position in the rapidly emerging GRC market.

SAP noted in its announcement that it has "long recognized the growing role of enterprise systems in assisting companies to meet the increasing challenges of corporate compliance and risk management. Customers are looking for powerful compliance solutions that work across heterogeneous IT environments to reduce risk and cost, as well as provide improved business control. By embedding compliance into business processes, SAP is making compliance repeatable, sustainable and less costly for companies of all sizes in all industry segments."

Web: www.sap.com