“With the turbulence of the international political, economic and trade environment and the intensification of scientific and technological competition among countries, the compliance risks faced by semiconductor enterprises are mainly reflected in policy changes, export control, intellectual property rights, security and review. Under the increasingly stringent export control rules system of countries, the major risks faced by semiconductor enterprises, such as export control, intellectual property rights, security and review, should be given high attention.”
Semiconductor industry risk radar (picture from Ernst&Young)
Recently, Ernst&Young highlighted a series of compliance risks faced by semiconductor chip companies in the article “Independent Creation of” Core “, Risk Control Escort – Construction of the” Trinity “Risk Prevention and Control System for Semiconductor Enterprises”, which has become a huge challenge to the sales compliance management of semiconductor and chip companies, especially for export-oriented chip companies.
In fact, at present, our chip enterprises increase a lot of risks not only in the sales compliance management of chip companies, but also in the risk control, compliance and other GRCs of chip companies.
Fragmented GRC approach increases risk
For example, our chip company’s sales compliance management failed to gain timely insight into the constantly updated overseas regulations and timely identify the products and technologies under specific jurisdiction, which may directly affect the company’s development, ranging from fines to infringement claims and lawsuits. In order to help chip companies improve their sales compliance management, more and more chip company managers are trying to find the best solution to cope with the escalating external changes and many uncertain compliance risks. In this issue, the digital transformation expert of chip semiconductor sharing network is dedicated to sharing how the world’s leading consulting company proposes solutions for “chip company sales compliance management”?
In the title of the opening article, Ernst&Young has brought us a “trinity” risk prevention and control system construction solution from the perspective of semiconductor and chip company containment.
“Three in one” risk control system (picture from Ernst&Young)
At the same time, for the sales compliance management of chip companies, Ernst&Young has brought “big compliance” management system solutions to chip and semiconductor companies, helping our chip companies upgrade their corporate compliance management.
Ernst&Young’s “big compliance” management system (picture from Ernst&Young)
At the same time, Ernst&Young also further listed the structure of eight “export compliance management systems”, pointing out the direction for our chip companies and chip sales companies to practice sales compliance management. In fact, all of this can not be built without the support of a unified platform built by digital technology. Through the management of marketing, sales, production, procurement and financial and human resources, we use standardization and data to strictly control compliance management, so as to promote the business development of chip companies.
Next, let’s take the SAP system adopted by 9 of the top 10 semiconductors in the world to deeply understand how SAP builds a comprehensive solution for chip companies’ compliance management, including “chip company sales compliance management”.
● SAP GRC Governance, Risk and Compliance Solutions for Chip Company Sales Compliance Management
SAP GRC (Governance, Risk And Compliance, GRC), also known as SAP governance, risk and compliance solutions, is risk management oriented and provides enterprises with a comprehensive risk management platform, internal control management platform and access rights management platform through risk management, process control and access control.
Compliance refers to compliance or consistency, including compliance with external laws and regulations as well as internal policies and procedures. Especially for the sales compliance management of a large number of “export-oriented” chip companies, SAP GRC GTS software can help organizations strengthen cross-border supply within the scope of international trade management, and help reduce the punishment of international trade regulators on risks.
Provides a centralized global trade management process for all compliance master data and content, regardless of the size of the organization. Help companies in various industries manage the challenges of international trade compliance requirements.
● SAP CLOUD ERP Compliance Solution for Chip Company Sales Compliance Management
In general, SAP Cloud ERP has built-in global compliance management, providing customers with global end-to-end solutions for corporate governance, risk management and compliance review (GRC), and all-round risk control and compliance management around chip company operations.
Let’s take a look at not only the sales compliance management of chip companies, but also how SAP builds risk prevention and compliance solutions for chip companies and other industry companies, as well as the value and benefits it brings to enterprises.
For example, on chip sales compliance management, SAP Enterprise CONSENT and Preference Management solutions can also be used to meet the requirements of GDPR, CCPA, LGPD and other regional data protection regulations.
As mentioned above, we only start from the perspective of sales compliance management of chip companies to bring you the solutions for sales compliance management, risk control and compliance management of chip companies built by Ernst&Young and SAP. In fact, as far as SAP is concerned, there are still many in-depth applications of sales compliance management for chip companies.
For more excellent solutions on sales compliance management and compliance management of chip companies, Visit the official website to learn more.
This article "How do leading global consulting companies suggest on sales compliance management of chip companies?" by AcloudEAR. We focus on business applications such as cloud ERP.
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