MonitorPaaS

MonitorPaaS is a solution offered by SafePaaS that aims to revolutionize risk management practices by providing continuous monitoring of business activities within enterprise applications. According to the vendor, MonitorPaaS offers real-time visibility into control violations, helping organizations meet their operating, financial, and compliance objectives. This monitoring platform is designed for organizations of various sizes and is utilized by professionals in industries such as Finance and Accounting, Procurement and Supply Chain, Human Resources, IT and Technology, as well as Compliance and Risk Management.

Key Features

Continuous Monitoring: According to the vendor, MonitorPaaS allows organizations to continuously monitor business activities within enterprise applications. It provides access to a catalog of automated application monitors covering major processes such as Procure-to-Pay, Order-to-Cash, and Financial Record-to-Report.

Configuration, Transaction, and Master Data Monitoring: MonitorPaaS enables organizations to track configurations, master data, and transactions in their business applications based on rule logic. The vendor states that it offers pre-seeded rules that can be configured to address specific governance, risk, or compliance objectives.

Enforcement of Application Setup and Operating Standards: According to the vendor, MonitorPaaS allows organizations to enforce consistent application setup and operating standards. It can notify relevant stakeholders if key application configurations are changed, ensuring adherence to standards.

Risk Mitigation and Approvals: MonitorPaaS is said to enforce a granular level of risk mitigation by invoking approvals and notifications when key risk fields are modified. It can require approvals and reasons for changes to customer limits, preventing unauthorized modifications.

Control Objects for Cost Savings and Rapid Deployment: According to the vendor, MonitorPaaS provides control objects that can be downloaded, saving time and effort in analyzing application objects, designing reports, building workflows, and maintaining custom code.

Incident Management for Closed-loop and Timely Remediation: Incidents reported by MonitorPaaS are assigned to business managers for timely response and risk remediation. According to the vendor, this closed-loop incident management process ensures an optimal risk remediation cycle and provides necessary evidence for an effective control environment.

Application-specific Monitoring for Major ERP Systems: MonitorPaaS is available for all major ERP systems, including Oracle EBS, Oracle ERP Cloud, SAP, and Workday. The vendor claims that it offers specific monitoring capabilities tailored to each ERP system, allowing organizations to manage risks specific to their chosen ERP platform.