Governance, Risk and Compliance

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Governance, Risk and Compliance

The current business environment is at once increasingly complex and increasingly regulated, challenging even the largest businesses to remain competitive in today’s fluid, global markets. Navigating through myriad legal, regulatory and supply chain mandates has never been tougher. Forward looking businesses are embracing these challenges as opportunities to succeed, through the implementation of governance risk and compliance (GRC)  strategies. These strategies, help control risk, effectively handle regulatory compliance and ultimately drive business performance.

Compliance is at the heart of the design of Epicor GRC solutions and Epicor makes every effort to ensure that any new functionality is consistent with published international standards and best practices. These include published standards in corporate and financial governance such as international accounting standards (IAS), international financial reporting standards (IFRS), and other generally accepted accounting principles (GAAP) while also incorporating support for international trade standards such as restriction of the use of certain hazardous substances in electrical and electronic equipment (RoHS), Waste Electrical and Electronic Equipment (WEEE) directive, and the North American Free Trade Agreement (NAFTA).

Ultimately, compliance with the far reaching government mandates like the Sarbanes-Oxley Act (SOX) and other evolving and emerging regulatory standards is based on the implementation and documentation of internal controls, procedures and processes. Epicor is committed to working with customers to leverage our software and services to meet their specific compliance, regulatory and governance objectives.

As the world begins to seriously consider energy availability and the long-term effects of climate change, businesses too are turning their attention to an area of opportunity they can affect - reduction of carbon emissions and energy conservation in their supply chains. Despite the fact that government incentives in this area are still in their infancy, many businesses are finding that green initiatives go beyond simple good-citizenship to real business opportunities and bottom line savings, contributing financial value to the organization.

Providing Solutions to Meet Your Business Goals

  • Built-in application-level risk mitigation tools and business process management (BPM) - providing audit trails and secure workflow automation, the key elements of data integrity and security - to help enforce controls and enhance policies.
  • Greater business insight through enterprise performance management (EPM) - supporting overall risk management objectives by keeping users abreast of changes in the business.
  • Comprehensive design to retire product lifecycle management (PLM), and sophisticated document management, for organisations that need excellent audit tracking and control of documentation across the enterprise, including support for RoHS.
  • Advanced quality management (AQM) to provide audit trail visibility of inventory transactions occurring in inspection and during discrepant material report (DMR) processing, and to manage compliance documentation such as Certificates of Analysis (COA), Certificates of Quality (COQ), or Certificates of Compliance.
  • Advanced user, role and group security to establish segregation of duties and restrict data and application accessibility as needed - with security against all objects including forms, fields, reports, menus, and method calls.
  • Lean supply chain management (SCM) and global trade compliance including definition of global trade standards for items and bar codes, such as UPC UCC-12, EAN UCC-13, EAN UCC-8, and GTIN-14.
  • Encompassing financial management including financial controls, transparent and proactive reporting, and audit and security management
  • Supplier Relationship Management (SRM) including strategic sourcing.

GRC is an ongoing process that will require companies to utilise internal resources alongside external experts to ensure that they meet regulatory demands. Epicor GRC solutions offer greater business predictability, help manage business risk, and drive stakeholder confidence.


Related Downloads

Epicor Financial Management Brochure

Smooth Transition: Preparing for IFRS

Getting Ready for International Financial reporting Standards IFRS

Achieving Efficient GRC Through Process and Automation White Paper

Governance Risk and Compliance Suite Brochure

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