Monday, February 06, 2006
SAP INFO
SAP INFO: "Transparent HR processes make it easier for companies to fulfill statutory requirements such as Sarbanes-Oxley. Solutions that organize HR data in a clear manner create the transparency that is required to achieve this. This forms the basis for making well-founded decisions and avoiding unnecessary costs.
Inefficient management of HR data can be costly. This is because companies are required to comply with a number of statutory regulations, such as are laid down by Sarbanes-Oxley, Basel II, or in Germany by the KonTraG (German legislation regarding corporate control and transparency) and non-compliance may result in legal consequences. The primary objective of Sarbanes-Oxley, for instance, is to achieve greater transparency in the company. For this reason it must be possible to track business processes and the people involved in them fully and to check the monitoring systems at regular intervals. The Act applies not only to financial departments but also to HR.
Companies should seize the opportunity afforded by this obligation and implement monitoring tools that also increase efficiency in the company. An example of this is a software application for legally compliant organization of HR data. This enables authorized individuals to access information on budget management and report structures at any time. If need be, it is easy to trace which person was responsible for a particular activity. "
Inefficient management of HR data can be costly. This is because companies are required to comply with a number of statutory regulations, such as are laid down by Sarbanes-Oxley, Basel II, or in Germany by the KonTraG (German legislation regarding corporate control and transparency) and non-compliance may result in legal consequences. The primary objective of Sarbanes-Oxley, for instance, is to achieve greater transparency in the company. For this reason it must be possible to track business processes and the people involved in them fully and to check the monitoring systems at regular intervals. The Act applies not only to financial departments but also to HR.
Companies should seize the opportunity afforded by this obligation and implement monitoring tools that also increase efficiency in the company. An example of this is a software application for legally compliant organization of HR data. This enables authorized individuals to access information on budget management and report structures at any time. If need be, it is easy to trace which person was responsible for a particular activity. "
