Effective Governance, Risk and Compliance (GRC) initiatives help companies and their employees stay compliant, and ensure that employees at all levels of the organization are aware of the associated risks of non-compliance.
Epicor GRC is delivered through a combination of embedded capabilities, modules and related services. Compliance is at the heart of the design of our software and Epicor takes 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).
Epicor GRC is designed to tackle these very requirements through a combination of capabilities covering: Enterprise Performance Management, Security Management, Business Process Management, Financial Governance, Global Trade Compliance, Environmental and Energy Management.
Enterprise Performance Management
Many of the requirements for effective GRC programs involve accelerated disclosure of information to external entities. This requires companies to have better visibility of changes than they had in the past. Epicor GRC incorporates the ability to infuse business insight through Epicor enterprise performance management (EPM) – a solution that supports overall risk management objectives by keeping users abreast of changes in the business.
Epicor GRC provides comprehensive user and group security to restrict data and application accessibility as needed. Security can be granted at user and group levels for all security objects including forms, fields, reports, menus, and method calls. Data tier security is also available for both tables and columns. There is also an option to use Windows® Authentication to support a Windows single sign-on and password policy.
Business Process Management
As the global regulatory environment grows ever more challenging for companies, it is becoming increasingly important to have embedded controls in your enterprise application so that your users can be more productive. Epicor GRC helps you move away from the management of day-to-day compliance by leveraging technology and optimizing operational efficiency. Epicor Business Process Management (BPM) in combination with Epicor Service Connect, allows you to identify risky processes to your organization and to effectively mitigate risk through business-defined workflows.
The current business environment is simultaneously complex and increasingly regulated, which can challenge even the largest businesses to remain competitive in today’s global markets. This fact is perhaps most important when it comes to financial control – which encompasses all aspects of the financial health of the organization. Epicor GRC helps control this risk – effectively enabling users to handle regulatory compliance and ultimately driving business performance by providing cross-organizational financial visibility and control over financial reporting, planning and forecasting processes.
Global Trade Compliance
In order to conduct business globally, you need enterprise business software that enables compliance with local laws, satisfies international security measures and meets the myriad of local and regional documentation requirements. Epicor applications provide a comprehensive platform for managing these trade compliance necessities.
Environmental and Energy Management
As the world continues to analyze energy availability and the long-term effects of climate change, businesses too are turning their attention to areas of opportunity – reduction of carbon emissions, energy conservation and supply chain sustainability. Companies will look to IT and software solutions to help them find opportunities to be better stewards of the environment and extend the tangible benefits of corporate social responsibility (CSR) through the extended supply chain. Some of the more notable areas that corporations are placing emphasis on when deciding on a path to good environmental and energy management surround strategic sourcing and procurement, logistics, lean manufacturing, and virtualization.