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Mr Pfungwa Serima

JOHANNESBURG. – Systems Applications Products, the enterprise software, is confident its Fraud Management Analytic Application, now available in Africa, would help address increasing business challenges of fraud in the continent. The application is poised to helps organisations rapidly predict and address fraud-related business issues, promoting business transparency in alignment with global best practices in governance, risk and compliance.

Powered by SAP’s next generation in-memory platform SAP HANA®, SAP’s Fraud Management Analytic Application uses advanced rules and algorithms to identify and predict fraud behaviour, issue alerts and block fraudulent transactions in real-time.

It instantly analyses millions of business transactions and compares it against historic fraud activities to expose hidden fraud activities, trends and correlations.

SAP Africa CEO Pfungwa Serima said more businesses in Africa were taking corporate governance, risk and compliance matters seriously, especially as transparency and fraud management become top of mind for all business leaders.

“In addition, the globalisation of business introduces new security risks as well as new regulations making compliance in Africa a complex landscape.

“SAP is now well positioned to help African organisations combat the risk of fraud with advanced analytic capabilities and greater visibility into their critical business data while ensuring they remain compliant,” said Serima.

South Africa-based mining group Exxaro, which uses SAP Governance, Risk and Compliance solutions to support their integrated governance, risk and compliance strategy to drive business efficiency and sustainability welcomed the partnership with SAP.

“Exxaro chose SAP GRC solutions to establish a proactive risk management culture within the organisations.
“We have managed to streamline processes, drive business efficiency and improve integration and collaboration.

“SAP is not only a technology partner, but also a business partner, as their analytics tools have enabled us to achieve our business and GRC objectives,” Saret van Loggerenberg, risk and compliance manager, GRC, Exxaro, said.

Africa is increasingly being seen as an investment destination. However, the continent struggles with a negative image in terms of fraud and corruption.  – CAJ News.