Automated IT Controls
Line of business and finance managers are relying more and more on IT not only to deliver the transaction systems that power the flow of business, but to establish and maintain controls at all levels of those systems. IT leaders are continuously monitoring overall enterprise risk including the possibility of fraud and unauthorized access from within the enterprise. Most importantly, they are keeping vigil on the processes involving cash such as payroll, purchase orders, and invoice payments. Being able to effectively respond to more stringent and frequent audits requires that these controls be automated and linked to overall IT Risk.
The Challenges
As evidenced by several high profile cases involving banking trades, privileged users often pose the greatest risk within the organization. Unauthorized activities by privileged users, such as administrators with unrestricted access across applications and platforms, are major avenues of insider security breaches. Many times this type of unrestricted access can violate change management procedures and separation of duties policies.
Challenges often arise because:
- Regulators and auditors have zero tolerance for privileged users conducting unauthorized activities.
- Violations in business transactions need to be monitored without fail – this requires automation.
- Overall security and compliance requires monitoring for configurations changes at multiple levels that involves applications, databases and operating systems.
The Solution
Agiliance IT-GRC 3.0 overcomes these challenges with the Controls Automation Module that provides linkages into ERP systems like Oracle and SAP, databases like the Oracle Database and DB/2, and operating systems like Microsoft Windows and UNIX, to be able to answer questions like:
- Are we losing money to fraud?
- Are there any fictitious employees on my payroll?
- Are there people with unauthorized access?
- Is fraud being committed by authorized users with privileged access?
- Are purchase orders being manipulated?
- Are there any unauthorized entries in our accounting system?
The Controls Automation Module delivers:
- A central controls monitoring solution for the enterprise with connectivity to all ERP, homegrown and legacy applications and databases as well as operating systems.
- Quick enterprise-wide deployment with built-in templates and scripting.
- Policies and rules that allow departmental level control while providing enterprise-wide visibility.
- Reporting and roles-based dashboards with progression to remediation.
Benefits
- Comprehensive solution that delivers sustainable compliance
- Enhances readiness for audits while reducing cost
- Reduces errors and fraud
- Links to overall IT Risk Management.
- Accommodates a range of heterogeneous applications that include vendor, in-house and legacy applications