The business processes of organizations are continuously changing as they develop day by day. The change causes added pressure on their control and governance systems. The demand for Access Management systems is increasing and it is becoming a must for organizations.

Why do the organizations need it?

• To track the changes in roles and user tasks.
• To constantly recalculate SoD in order to avoid any internal fraud.

Importance of managing SoD

Managing the Segregation of Duties (SoD) is one of the essential components in Access Management. SoD focuses on mitigating the risk of internal fraud as it sets boundaries between the roles assigned to an employee and the conflict of interest that would result from an employee’s responsibility.

For example, an employee calculates the gross and net pay information for payroll while another employee verifies.

Many companies are finding ways to improve the performance of SoD management while reducing costs.

What are the key challenges?

Rapid evolution and change of roles and tasks

Business processes are evolving rapidly. The roles and tasks of employees keep changing. This needs continuous and manual updates for the SoD management planning. To avoid conflicts after changes, organizations must integrate an advanced, fast and efficient Access Management tool that fits into their systems.

Inaccessibility from using an unknown ERP system

Unfortunately, few companies try to include SoD management in unknown ERP systems. The solutions of these systems might include excel sheets or consultancy services that lack efficiency and accuracy. It may also be not completely integrated with the company’s Access Management system.

A time-sensitive SoD analysis tool adapts to all the changes by simulating all possible conflicts even before they happen. It will help an organization in the speedy update of their SoD management plan which improves performance and also reduces costs.

What does a Segregation of Duties tool do?

• It mitigates the risk of malicious behaviors in business operations. 
• It ensures that the organization is compliant with regulatory standards.  
• The access to multiple accounts, applications, and systems can be separated thereby reducing the chances of fraud. 
• The entire process of managing SoD is automated. 
• All the accounts of the company which has access to the applications and systems are analyzed.
• It identifies and reports financial risks in the employee roles and also provides solutions to fix issues if any.
• It predicts the risks involved in user activities and shifts in responsibilities.
• It automatically resolves the conflicts periodically.