Oracle Cloud ERP solutions can streamline business processes, but managing the associated risk can be challenging. Companies struggle to find the balance between business enablement and system protection.
Learn More at Securing the ERP
When it comes to cloud-based business management, Oracle Cloud ERP is an essential tool. It can help streamline business processes like Record to Report, Hire to Retire, Procure to Pay, and more.
But with the many benefits also come the potential for risk. Users logging in from any device, at any time, from anywhere, make managing risk a difficult task. Add to that, the many insider and outsider threats and the ever-changing landscape of compliance, and the problem is compounded.
There's a fine line between enabling your employees and protecting your organization.
KPMG recently reported that managing risk associated with internal and external threats is growing more difficult every day. Our researchers found that 42% of significant fraud events were perpetrated by insiders. And weak internal controls were a key factor for 61% of the fraud events.
But here’s the good news: KPMG’s Securing the Cloud ERP framework can help provide a structured approach to managing this risk.
Securing the Cloud ERP is an operational view of Cloud ERP security and controls. It’s designed to help industry-leading organizations with leveraging the Cloud to empower ERP business users while protecting sensitive data and transactions.
How does this happen? Through five areas of focus:
Cloud Application Controls integrate controls with the Cloud ERP business processes.
Application Security provides the user login and access role capabilities to Securing the Cloud business users – and also addresses segregation of duties.
Cyber and Data Security addresses the unique cyber challenges associated with moving to the Cloud.
Managing the Cloud User Lifecycle Processes lets you add, change, certify, and remove Cloud users.
And Managing the Security and Controls Impacts provides a structured, target operating model to help manage compliance when change occurs – as it constantly does.
Think of these five focus areas as your company's lines of defense. They help defend the transactional integrity of business processes and help protect sensitive data hosted in the Cloud.
KPMG’s Oracle Security and Controls practice can help you define and deploy a business solution to build the lines of defense for your organization.
Our years of experience with Oracle ERP and our Cloud-enabling tools and accelerators are ready to help protect you from serious risk associated with moving to the Cloud.
Learn more about how the KPMG Securing the Cloud ERP framework can make a difference in managing YOUR risk.