What is SAP DRC?
SAP DRC (Document and Reporting Compliance) stands as a cloud-based service, aiding organizations in streamlining and automating their document and reporting compliance procedures. It furnishes a unified platform for the definition, generation, and submission of statutory reports, aligning with local regulations. Additionally, SAP DRC offers pre-constructed reports for over 50 countries, easily adaptable to cater to the specific needs of each organization.
What is SAP ARC?
On the other hand, SAP ARC (Automated Regulatory Compliance) presents itself as an on-premise solution, strategically designed to assist organizations in adhering to intricate regulatory requirements. It delivers a comprehensive suite of tools for the management of regulatory data, evaluation of compliance risks, and the generation of compliance reports. SAP ARC also encompasses a library of pre-established compliance rules and regulations spanning over 100 countries.
Noteworthy distinctions between SAP DRC and SAP ARC
- Deployment: SAP DRC operates as a cloud-based service, contrasting with SAP ARC, which is an on-premise solution.
- Reporting: While SAP DRC focuses primarily on generating statutory reports, SAP ARC offers a more extensive array of tools for comprehensive regulatory compliance management.
- Extensibility: SAP DRC boasts greater extensibility compared to SAP ARC, facilitating easier customization of reports and the addition of new features.
- Cost: Generally, SAP DRC proves to be more cost-effective than SAP ARC, particularly for small and medium-sized businesses.
Advantages of SAP DRC
Mitigated risk of compliance violations: SAP DRC aids organizations in navigating complex regulatory requirements, consequently reducing the likelihood of fines and penalties.
Enhanced efficiency and accuracy: By automating various tasks involved in document and reporting compliance, SAP DRC enables staff to redirect their focus towards value-added activities.
- Cost reduction: SAP DRC assists organizations in reducing costs associated with document and reporting compliance.
- Improved visibility and control: With a unified platform, SAP DRC provides organizations with enhanced visibility and control over all aspects of document and reporting compliance.
Advantages of SAP ARC
- Holistic compliance management: SAP ARC equips organizations with a comprehensive toolkit for managing all facets of regulatory compliance, encompassing data management, risk assessment, and reporting.
- Pre-established compliance rules and regulations: Featuring a library of predefined compliance rules and regulations for over 100 countries, SAP ARC enables the automation of compliance processes, minimizing the risk of errors.
- Flexibility and customization: SAP ARC stands out as a flexible and customizable solution, capable of adapting to the specific needs of each organization.
- Scalability: SAP ARC can be scaled to accommodate the requirements of organizations of all sizes.
Choosing the Right Solution
The most suitable solution for your organization hinges on your specific needs and requirements. If you are seeking a user-friendly, cost-effective cloud-based solution, SAP DRC emerges as a strong option. Conversely, if you require a more comprehensive compliance management solution with pre-established rules and regulations, SAP ARC presents itself as the preferred choice.
In Conclusion
Both SAP DRC and SAP ARC emerge as robust solutions, offering automation and simplification of compliance processes for organizations. The selection between the two depends on the nuanced needs and specifications of your organization.
