Oracle unveils risk management tool

07.03.2007
Oracle Corp. this week rolled out a new set of applications to help support corporate risk management and financial reporting compliance procedures.

The a new Governance, Risk Management and Compliance (GRC) suite combines business intelligence capabilities in some Oracle-developed products with the compliance management and enterprise content management tools it gained with its of Stellent Inc. last November.

The new Oracle Fusion GRC offering expands considerably on the compliance-support capabilities in the company's E-Business Suite 11i software by supporting both Oracle and non-Oracle business applications, said Folia Grace, vice president of applications marketing at Oracle.

The suite includes Oracle Fusion GRC Intelligence, which provides an out-of-the-box dashboard along with reporting capabilities and Oracle Governance, Risk and Compliance Manager, which monitors business risks, automatically highlights potential weaknesses and initiates corrective actions. The suite also includes an Application Configuration Controls, which can monitor 500 control processes in the Oracle E-Business Suite and help enforce corporate policies.

Aaron Sager, manager of business systems at ViaSat Inc., a Carlsbad, Calif.-based provider of satellite and wireless communications equipment, said he plans to use the suite to better automate the company's efforts to comply with the Sarbanes-Oxley Act.

ViaSat currently uses the uses the Oracle Internal Controls Manager in E-Business Suite 11i to ensure compliance with federal requirements for creating corporate financial controls. The Internal Controls Manager is used to support documentation and compliance procedures.