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SAP Introduces Business Integrity Screening Solution to Reduce Risks in Financial TransactionsWALLDORF, Germany, Feb. 13, 2018 /PRNewswire/ -- SAP SE (NYSE: SAP) has introduced SAP® Business Integrity Screening, an application that helps reduce financial risk within business transactions. It analyzes data for suspicious transactions and patterns in real time to spot exceptions, potential fraud and compliance failures. This automation results in major efficiency gains and cost savings. The flexible platform, powered by SAP HANA®, allows organizations to address compliance assurance across a broad range of scenarios by detecting anomalous transactions early, before financial losses occur, and predicting or preventing future occurrences. The application also screens business entities and individuals against blacklisted or high-risk parties to reduce the risk of conducting business with such parties. All these features reduce the cost associated with investigations and compliance breaches. With the rise of the digital economy, businesses are susceptible to new points of entry for potential fraud and other risks each day. Current detection measures leave investigators with too many false positives and more work than existing processes can support. Risk and compliance teams need to screen external partners to identify exposure to commercial and reputation risks as well as compliance issues. To efficiently protect the integrity of business processes, organizations must also improve the accuracy of exception detection in all transactions. "The price for failing to properly screen the integrity of business activities can be steep," said Thack Brown, SAP general manager and global head of LoB Finance. "At SAP, we are dedicated to helping businesses run better, and mitigating risk is a critical part of that. Our new business integrity capabilities not only allow us to help spot, reduce and prevent fraud and other irregularities but also help our customers better identify the integrity of the third parties they conduct business with." Flexible Platform Allows Easy Integration "The digital economy continues to put pressure on our clients to elevate their compliance and antifraud programs toward an integrated continuous monitoring approach," said EY's Stefan Schaffer, partner and head of the Global Center of Excellence for SAP Business Integrity Screening. "Using SAP Business Integrity Screening, EY and our clients are developing targeted solutions that leverage advanced analytics to more effectively detect external and internal fraud, automatically monitor compliance and successfully eliminate errors and waste." Visit the SAP News Center. Follow SAP on Twitter at @sapnews. About SAP Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP's future financial results are discussed more fully in SAP's filings with the U.S. Securities and Exchange Commission ("SEC"), including SAP's most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. © 2018 SAP SE. All rights reserved. For customers interested in learning more about SAP products: For more information, press only:
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