REMEDYNE – Fraud Prevention

REMEDYNE helps companies to detect, investigate, and prevent fraud and errors. The software continuously analyzes business partner and transaction data with proven analytics, and enables managers and experts to conduct an effective investigation and quickly decide on each alert and take action.
With REMEDYNE, financial losses can be prevented, and operational efficiency increased. Customers can add own checks to address specific risks.

Some key features:
– Many pre-defined checks that are based on extensive research and experience in forensics and audit
– Access to alerts anytime, anywhere, with mobile device support (UI5)
– Workflow support to investigate alerts and take action
– Easy to deploy (SAP add-on), customize, add own checks
– Pricing based on company size, no limit on number of users

WHO is the user, WHAT can he do, and can you PROVE it? – How REMEDYNE fits into the security portfolio.

These questions are the business perspective on information security. IT can deploy various solutions (tools and processes) to address these questions.
One simple taxonomy for these solutions in the SAP space is this:
– Solutions that provide a trustworthy computing environment: security patches; secure ABAP code (secure coding practices, code reviews/scans); secure system configuration (implement SAP’s security guides, use Solution Manager’s Configuration Validation); the change management process
– Authentication mechanisms (WHO?): strong passwords, or even better strong, i.e. multi-factor authentication
– Access rights, segregation of duties (WHAT?): SAP authorizations
– Confidentiality, Integrity: includes all of the above, plus encryption of communication, and protect your SAP database and backups
– Monitoring (PROVE?): SAP table logging, change documents, logs
There is another layer around these levels, that consists of supporting tools. Examples include SAP GRC Access Controls, Identity Management, Single Sign-On. Essentially, they make IT and user’s life easier and help saving money through automation.

The security controls listed above aim to provide a secure environment so that nothing bad can happen. They establish security bottom-up.
REMEDYNE and other transaction monitoring solutions are not in the list because I want to highlight their special nature, complementing your controls already in place:
REMEDYNE analyzes WHAT users actually do (not what they can do, like e.g. SAP GRC AC does) in a definitive way (PROVE). And it directly shows the impact on your business.

Fraud Prevention Solutions for SAP

SAP Fraud Management/Financial Crime Platform, Oversight, REMEDYNE. This list is not exhaustive, but those are the products that we have listed on our own website. How do they compare to each other?
SAP Fraud Management/Financial Crime Platform: big data tool, helps customers to investigate fraud patterns that are uncommon and hidden in huge numbers of transactions. Leverages SAP HANA.
Oversight: strong analytical capabilities when data from different sources has to be combined, e.g. SAP and credit card data, and comes with pre-defined checks for travel expenses and other employee expenses.
REMEDYNE: continuous audit/transaction monitoring for SAP. Checks for procurement, accounting, inventory, order-to-cash, …

Take action and fight fraud now!

Every organization is subject to fraud and loses a significant share of its revenue to errors and fraud. REMEDYNE helps you driving down this number and to increase operational efficiency.

Get in touch with us to learn more and for a demo!

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