Pfizer: Transforming Internal Controls with Governance, Risk, and Compliance Solutions
Learn how Pfizer has embraced new technological capabilities, resulting in remarkable controls improvements, thanks to SAP Process Control and SAP Access Control. Preuzmite dokumentPUBLIC
Picture Credit | Customer Name, City, State/Country. Used with permission.
Pfizer Inc. is a multinational pharmaceutical and biotechnology leader that specializes in
developing and manufacturing drug treatments to promote health and prevent disease.
For Pfizer to continue expanding, it needed to prioritize technological advancements.
Pfizer decided to enhance its governance, risk, and compliance capabilities so that it could
adopt continuous control monitoring and access governance. This would allow it to move
away from multiple market-based audits to a single, centralized global audit powered by
analytic processing, maximizing synergies, reducing time and errors, and achieving better
audit results.
Pfizer: Transforming Internal
Controls with Governance, Risk,
and Compliance Solutions
Picture Credit | Customer Name, City, State/Country. Used with permission.
Pfizer Inc. is a multinational pharmaceutical and biotechnology leader that specializes in
developing and manufacturing drug treatments to promote health and prevent disease.
For Pfizer to continue expanding, it needed to prioritize technological advancements.
Pfizer decided to enhance its governance, risk, and compliance capabilities so that it could
adopt continuous control monitoring and access governance. This would allow it to move
away from multiple market-based audits to a single, centralized global audit powered by
analytic processing, maximizing synergies, reducing time and errors, and achieving better
audit results.
Pfizer: Transforming Internal
Controls with Governance, Risk,
and Compliance Solutions
PUBLIC | 89988enUS (23/09) © 2023 SAP SE or an SAP affiliate company.
sap.com/terms-of-use
Featured Solutions
SAP Process Control, SAP Access
Control, and SAP Analytics Cloud
Revenue
>US$100 billion
Employees
83,000
Products and Services
Medicines and vaccines, as well
as many of the world's best-known
consumer healthcare products
Industry
Life sciences
Pfizer Inc.
New York, New York
www.pfizer.com
Manual controls performances,
down from 500 previously
0
Controls reviewers, down
from 200 previously
3
“Through our partnership with SAP, Pfizer has
embraced new technological capabilities, resulting
in remarkable controls improvements. We are
transitioning from fragmented market-based audits
to a unified global audit. This achievement reflects
our commitment to innovation and strategic
collaboration.”
Jeffrey M. Geiger, Senior Director Global Business Services, Pfizer Inc.
Before: Challenges and Opportunities
• Manual, time-consuming, inconsistent, and error-prone controls execution and review
• Repetitive, manual controls performance and review of 580 segregation of duties at more than 100 sites
by over 200 controls reviewers on a monthly basis
• Risks of incurring excessive compliance costs caused by observations arising from an overly manual
process
Why SAP
• Ability to leverage data and analytics from the SAP® Analytics Cloud solution and machine learning
algorithms to identify exceptions
• Centralized and streamlined controls performance and review using the SAP Process Control application
• SAP Access Control application to help avoid unmitigated segregation-of-duties violations
• Automated workflows and controls execution and review to manage by exceptions
After: Value-Driven Results
• Reduction in audit testing efforts and manual execution inconsistencies by providing an unchangeable
report output format
• Time savings for corporate auditors, controls performers, and controls monitors resulting from the
elimination of manual controls execution and the introduction of centralized review by exception
• Controls monitoring for several regulations (such as Internal Control over Financial Reporting,
Foreign Corrupt Practices Act, and environmental, social, and governance regulations) across more
than 300 organizations with over 10,000 annual controls executions
Enabling Automated Controls Performance with Centralized
Review Using SAP® Solutions
Inconsistencies, errors, audit
observations, and audit fees
Fewer
sap.com/terms-of-use
Featured Solutions
SAP Process Control, SAP Access
Control, and SAP Analytics Cloud
Revenue
>US$100 billion
Employees
83,000
Products and Services
Medicines and vaccines, as well
as many of the world's best-known
consumer healthcare products
Industry
Life sciences
Pfizer Inc.
New York, New York
www.pfizer.com
Manual controls performances,
down from 500 previously
0
Controls reviewers, down
from 200 previously
3
“Through our partnership with SAP, Pfizer has
embraced new technological capabilities, resulting
in remarkable controls improvements. We are
transitioning from fragmented market-based audits
to a unified global audit. This achievement reflects
our commitment to innovation and strategic
collaboration.”
Jeffrey M. Geiger, Senior Director Global Business Services, Pfizer Inc.
Before: Challenges and Opportunities
• Manual, time-consuming, inconsistent, and error-prone controls execution and review
• Repetitive, manual controls performance and review of 580 segregation of duties at more than 100 sites
by over 200 controls reviewers on a monthly basis
• Risks of incurring excessive compliance costs caused by observations arising from an overly manual
process
Why SAP
• Ability to leverage data and analytics from the SAP® Analytics Cloud solution and machine learning
algorithms to identify exceptions
• Centralized and streamlined controls performance and review using the SAP Process Control application
• SAP Access Control application to help avoid unmitigated segregation-of-duties violations
• Automated workflows and controls execution and review to manage by exceptions
After: Value-Driven Results
• Reduction in audit testing efforts and manual execution inconsistencies by providing an unchangeable
report output format
• Time savings for corporate auditors, controls performers, and controls monitors resulting from the
elimination of manual controls execution and the introduction of centralized review by exception
• Controls monitoring for several regulations (such as Internal Control over Financial Reporting,
Foreign Corrupt Practices Act, and environmental, social, and governance regulations) across more
than 300 organizations with over 10,000 annual controls executions
Enabling Automated Controls Performance with Centralized
Review Using SAP® Solutions
Inconsistencies, errors, audit
observations, and audit fees
Fewer