What is compliance management?
Compliance management is the process of making sure a business follows the laws, regulations, and internal policies that apply to its operations. In finance, this includes controls over processes, approvals, documentation, and audit evidence across areas such as reconciliations, reporting, and the financial close.
These requirements need to be applied consistently. If compliance relies on manual checks, emails, or offline files, it becomes harder to show that controls are working as expected. That can lead to audit issues, gaps in control, and increased risk.
For SAP finance teams, compliance management is easier when controls and approvals are handled within the system and properly tracked. Processes such as reconciliations and sign-offs play an important role here, and tools like BEST’s Balance Sheet Recons module support this by keeping records, approvals, and supporting documentation in one place.
Compliance management is about making sure finance processes are controlled, consistent, and easy to evidence.