SafePaaS Access and Transaction Risk Management services are based on the two new Oracle Risk Cloud products released in 2018 – Advanced Access Controls and Advanced Financial Controls. These two new products extend the Oracle Risk Management Cloud capabilities of the Oracle Financial Reporting Compliance product that was introduced two years ago and has been selected by hundreds of Oracle customers since then.
A number of SafePaaS customers have successfully implemented the Oracle risk cloud already and have shared their success stories at various Oracle events. For example, last year, Femsa, the largest drinks distributor in Latin America and the world’s largest Coca-Cola bottler, selected SafePaaS and Oracle Risk Cloud to automate the manual controls of every internal control process.
The Oracle Risk Cloud has enabled Femsa to increase efficiency and effectiveness of the Internal Control Department and reduce time spent conducting control certifications by using FRC Survey and Assessment functions. SafePaaS helped Femsa setup a single source of data for all Process, Risk and Control documentation, while establishing effective functional and data level security available within Oracle Cloud Role-Based Security model.
Advanced Access Controls (AAC) Cloud Service enables continuous monitoring of all access policies in Oracle ERP, potential violations, insider threats, and fraud. It automates security analysis to ensure segregation of duties and compliance with access policies. Organizations can easily upgrade their existing processes by deploying a prebuilt library of best practice access controls or graphically author new controls to suit their changing needs.
Advanced Financial Controls (AFC) Cloud Service enables continuous monitoring of all expense and payables transactions in Oracle ERP Cloud, for potential cash leakage, violation of internal policies, process inefficiency, and fraud. It replaces inefficient manual audit and sampling practices with automated controls to identify and remediate incidents.