Schuberg Philis has selected Software AG’s Digital Business Platform to develop a real-time business performance and risk and compliance audit system. Herewith, Schuberg Philis can further enhance their renowned 100% performance model with continuous real-time audit, assurance and activity monitoring.
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For Schuberg Philis it is essential to provide total transparency on how it manages and controls the processes that support its clients’ mission critical applications and systems. This transparency also extends to the management and control of the risks associated with these processes. With Software AG’s Digital Business Platform, Schuberg Philis can continuously monitor, in real-time, both business process performance and KPIs but also risk and compliance performance, providing continuous assurance to customers and auditors. It is with this real-time visibility of compliance controls that Schuberg Philis can extend its “100% promise” of quality and transparency to risk.
Janot van Wegen, Risk Officer at Schuberg Philis, said: “Software AG was our first choice given their deep GRC experience and strong, customer-centric vision on the evolution of enterprise applications and digital transformation.”
Schuberg Philis’s Digital Business Platform implementation will be executed in two phases. The current phase focuses on replacing the existing GRC technology with Software AG’s ARIS Governance, Risk & Compliance Management Solution. As part of this, the company will introduce automated workflows for control testing, audits, action management and deploy a monitoring dashboard for both internal and external stakeholders including Schuberg Philis’s management, customers and clients’ auditors.
The second phase will wrap-in fully-automated, real-time analytics capabilities using Software AG’s Apama Streaming Analytics to monitor compliance controls continuously. For Schuberg Philis, this is where the real benefits are expected. Real-time, continuous monitoring of key controls will result in better assurance, reduced effort and overhead and instant availability of audit trails to all stakeholders.
Sandeep Gangaram Panday, Audit Manager at Schuberg Philis added: “We want to gain value from our audits instantly and aid our customer teams at the moment the information is relevant, not weeks later. Too often auditors fail in properly communicating audit and risk management results to stakeholders. Our goal with this project is to build a robust, visual tool that provides an attractive user experience and increases the added value of audit results with a stakeholder-centric approach.”
Michiel Jorna, Global Director of GRC Solutions at Software AG, commented: "The possibilities open by real-time risk and compliance as a result of digitalization is rapidly changing the industry. Software AG is playing a key role in enabling organizations to differentiate themselves and innovate in this new digital area. The maturity of internal control is exceptionally high at Schuberg Philis and this incredibly solid foundation has enabled them to now implement leading-edge, real-time assurance. We look forward to our co-innovation in creating the internal control and audit system of the future, today.”
This implementation is being executed in partnership with Software AG and PwC.