Oracle has extended its continuous controls monitoring offering with the introduction of new version of Oracle GRC Controls, as part of Oracle Fusion Governance, Risk, and Compliance.
With continuous monitoring of automated controls for Oracle and non-Oracle enterprise applications, the new tool – GRC Controls 8.6 – helps lower compliance costs, improve financial governance and enhance operational performance.
Oracle said its new GRC Controls tool now enables business users to embed control monitors directly into enterprise applications through a drag-and-drop user interface.
The new release also delivers incident management capability to facilitate the management of controls and the collaborative disposition of issues across multiple departments, such as finance, audit, IT, procurement, and HR.
The GRC Controls 8.6 enables business users to identify and reduce risk in business processes such as order to cash and procure to pay by actively monitoring business transactions for potential error and fraud, enforcing segregation of duties (SOD) policies, and maintaining the integrity of controls when upgrading to the latest releases of the Oracle E-Business Suite and Oracle’s PeopleSoft Enterprise.
Oracle GRC Controls includes Oracle Enterprise Transaction Controls Governor (Oracle Enterprise TCG), Oracle Application Access Controls Governor (Oracle AACG), Oracle Configuration Controls Governor (Oracle CCG), and Oracle Preventive Controls Governor (Oracle PCG).
Oracle GRC Controls 8.6 includes features such as new attributes specific to Oracle’s PeopleSoft Enterprise; advances in GRC Controls extensibility for the rapid development of controls monitoring solutions for multi-application environments; and streamlined structure to define models, controls, and incidents.
Oracle Applications Development group vice president Chris Leone said with Oracle GRC Controls, the company is able to help its customers get more out of their GRC investment and go beyond regulatory compliance to reducing waste, inefficiency, and operational risk in their core business transactions.
"The latest release of Oracle GRC Controls sets a new standard for extensibility and user experience to make it easier for organizations to apply controls that are driven by the business across even the most complex application environments," Leone said.