Continuous monitoring
MonitorPaaS™
Configuration, Transaction and Master Data Monitoring
Today more than ever, organizations need to transform risk management practices from manual controls to automated fine-grained controls that monitor business activities enabled by enterprise applications. We are rapidly moving into a digital universe where an increasing number of people are connected to enterprise applications online (cloud-computing), and “things” (smart devices) connected to the internet are unleashing new waves of opportunities.
Manual controls are ineffective without timely visibility into control violations that occur in daily business activities within enterprise applications such as Oracle EBS, Oracle ERP Cloud, SAP, and Workday. The bottom line is that if any of the key controls in your enterprise application fail to operate, there will be an impact on the business.
You can use SafePaaS MonitorPaaS™ to continuously monitor business activities within your enterprise applications with instant access to the largest catalog of automated application monitors covering 1,000+ business objects for major processes such as Procure-to-Pay, Order-to-Cash, Hire-to-Retire, Design-to-Ship, and Financial Record-to-Report.
MonitorPaaS™ provides information on how well business processes are operating over a selected time period, enabling your company to ensure that operating, financial and compliance objectives are met.
Process improvements can be made by enforcing consistent application setup and operating standards with MonitorPaaS™ . For example, notify the Payables Manager if a key application configuration, such as 3-way-match for AP invoice payments, is changed. Setup a dashboard for the Purchasing Manager to track changes to master data, such as supplier bank accounts, to know who, when, where and what changed.
MonitorPaaS™ enforces a granular level of risk mitigation to targeted users and events by invoking approvals and notifications when key risk fields are modified.
Examples include requiring approvals and reasons for changes to customer limits, and preventing posting of GL Entries into a closed period without approval from the Controller.
Track Configurations, Master Data and Transactions
MonitorPaaS™ tracks configurations, master data and transactions in your business application based on the rule logic that meets your governance, risk or compliance objective. For example, select a transaction rule in “Create Supplier and Enter Payment” to identify application users that have created a supplier and paid that same supplier – violating a segregation of duty policy. MonitorPaaS™ comes pre-seeded with more than a thousand rules that you can select and configure to address your objective.
MonitorPaaS™ for all major ERP systems, includes:
You can read more about our MonitorPaaS™ solution here.