Oracle Extends Governance, Risk, Compliance App Suite

Oracle has extended its governance, risk and compliance application suite to consolidate GRC activities into a common platform.

Oracle's new platform comprises the new Enterprise GRC Manager and the latest release of the Enterprise GRC Controls. The tightly integrated package delivers a "closed-loop approach to regulatory compliance, risk management and controls automation," the vendor said.

The platform, unveiled Monday, enables organization to identify, assess and prioritize risks and address them through both manual and automated controls, Oracle said. "This integrated approach gives organizations an enterprise understanding of which risks are critical and enables an immediate and coordinated response."

The new GRC Manager, built on Oracle Fusion Middleware 11g, provides a single system to manage interdependent risks and compliance initiatives, thereby reducing the cost of auditing and governing change management processes. In addition, the software supports financial compliance with top-down, risk-based scoping and a flexible, hierarchical certification process.

The GRC Controls monitors automated controls in business applications to help mitigate fraud and error. A business rules engine looks for violations and anomalies in transactions.

The latest version of GRC Controls includes new versions of Oracle's Enterprise Transaction Controls Governor and Application Access Controls Governor. Enterprise TCG introduces statistical logic to uncover out-of-policy transactions. AACG provides simulation capabilities to graphically detect segregation of duties conflicts and advise on issues, remediation plans and potential impact.