Oracle has extended its Governance, Risk, and Compliance application suite, offering a complete, end-to-end, integrated answer to GRC needs.

Oracle's Enterprise Governance, Risk, and Compliance Manager (Oracle Enterprise GRC Manager) and the latest release of Oracle Enterprise Governance, Risk, and Compliance Controls (Oracle Enterprise GRC Controls) promise a unique, closed-loop approach to regulatory compliance, risk management, and controls automation.

They support cross-enterprise, risk-based modeling, analysis, treatment and decision making, allowing organisations to embed clear accountabilities for risk management and control across the enterprise.

Oracle Enterprise GRC Manager provides a single system to manage interdependent risks and compliance initiatives. Common enterprise processes help identify correlated risks and consolidate the tracking of results from control testing across multiple GRC initiatives.

Enterprise GRC Manager is built on Oracle Fusion Middleware 11g, offering a complete and open solution that is easily integrated to systems such as the Oracle E-Business Suite, Oracle’s JD Edwards EnterpriseOne, Oracle’s PeopleSoft Enterprise and Oracle Hyperion Performance Management, Enterprise GRC Manager is also designed on an open, standards-based architecture which provides support for non-Oracle packaged applications and bespoke applications in heterogeneous multi-vendor environments.

Oracle GRC Controls continuously monitors automated controls in enterprise applications and helps mitigate exposure to fraud and error. With this new release, fraud detection and improved business process integrity and performance is enabled via a business rules engine that programmatically looks for violations and anomalies in transactions.

The latest release of Oracle Enterprise GRC Controls includes new versions of Oracle Enterprise Transaction Controls Governor (Oracle Enterprise TCG) and Oracle Application Access Controls Governor (Oracle AACG).

According to Gartner, "The Enterprise GRC platform market derives from the need for many entities to improve the oversight of corporate governance — including financial reporting compliance, enterprise risk management and related audits. Many organizations also want to consolidate other GRC activities into a common platform. Therefore, an EGRC platform must solve immediate GRCM needs associated with corporate governance and also enable an enterprise to pursue future consolidation and integration of GRC activities."