Security Weaver a leading provider of governance, risk and compliance management (GRCM) software for SAP®, today announced a GRCM suite that gives small and medium-size businesses (SMBs) enterprise-level risk management and automated security at affordable prices. Security Weaver’s "SMB software suite" will combine the ability to automate Segregation of Duties (SOD) identification and remediation with streamlined emergency access to SAP so that SMBs can quickly, easily reduce fraud, increase compliance and lower the cost of audits.
“Security Weaver has found that SMBs have more of a problem with the potential for employee fraud for a number of reasons. First, their employees have multiple duties and overlapping responsibilities. Second, in many SMB organizations, the SAP IT resources are spread very thin and lack the bandwidth to monitor for fraud. Third, we’ve found there is a lack of software audit capability and expertise within a typical SMB where audit activity is more generalized. And last, but definitely of equal importance, tools on the market were not affordable or easy to maintain.” said Neil McConnell, Security Weaver Chief Operating Officer.
Lynn Lawton, president of the Information Systems Audit and Control Association (ISACA) stated in the October 14, 2008 edition of Compliance Week Magazine, “Generally, fraud tends to increase as the economic environment gets worse.” Segregating duties is “a good, strong control,” because the responsibilities for particular process streams are divided among several people. If anyone wanted to commit a fraudulent act, collusion would be required, “which is always more difficult than just doing it yourself”. “The smaller the organization, the less likely you are able to have proper segregation of duties, not just in IT, but in any of the financial and operational roles,” she says.
Security Weaver provides a business with the flexibility to document mitigating controls within the tool itself. In the same article, Lee Barken, IT practice leader at accounting and auditing firm Haskell & White goes on to state, “Small companies are definitely struggling with this [enforcement] issue, but at the end of the day you can’t eliminate all risks, you just have to manage it as best you can.” The combination of easy-to-run SOD scans, and easy-to-document mitigating controls, is the perfect duo for SMB organizations.
McConnell notes, “Finally there is a solution to help small and medium-size businesses effectively manage their Segregation of Duties risk. Security Weaver’s automated software suite is very affordable, easy to maintain and quick to install (less than 24 hours).”
Vi-Jon Laboratories, a Security Weaver customer since 2007, is one of the nation’s oldest Private Label Health & Beauty Care Companies, serving retailers in all 50 states. Vi-Jon’s CIO, Burton Cooper agrees with McConnell about Security Weaver’s SOD software suite affordability and ease of use. "Like my peers, I typically have concerns about installing new software across my enterprise, but Security Weaver's installation proved seamless. Even more impressive was once installed Security Weaver's product suite is easy to use, easy to maintain, unobtrusive and very effective in ensuring proper segregation of duties and privileged access management."
Pricing and Availability
The Security Weaver SMB product suite is now available. Companies interested in learning more about Security Weaver’s SMB product suite and pricing are invited to email our SMB group at SMB[.]securityweaver.com.
About Security Weaver
Security Weaver (securityweaver.com) is a leading provider of governance, risk and compliance management (GRCM) software for SAP®. Our flagship software suite, Security Weaver is engineered to give customers a unified view of their enterprise-wide application environment so they can reduce the risk of fraud, accelerate the efficiency of operations and ease the burden of ongoing compliance requirements. Security Weaver's suite of products includes tools for the management of enterprise wide segregation of duties (SOD) conflicts, full automation of the user provisioning process, control of privileged user access, configurable process controls and advanced audit analytics integrated with robust reporting and workflow capabilities. Organizations throughout the world are using Security Weaver to support a robust GRCM framework in SAP while providing Finance, IT and Audit with the tools and visibility they need to reduce the risk of fraud and ensure compliance.