OpenPages Accelerates Momentum in First Half of 2008

August 7, 2008

Half-Year Successes Fueled by Bookings Growth, Significant Product Innovation, and Industry Accolades

Waltham, MA, August 07, 2008 — OpenPages®, the leading provider of enterprise GRC management solutions that optimize business performance, today announced extraordinary momentum and success in the first half of 2008. Building on a strong performance in Q1, OpenPages’ GRC growth progressed in Q2 with new bookings growth of 55% over the same quarter last year. The company’s accelerated momentum was fueled by new product introductions, significant product innovations and industry recognition for the company’s technological excellence.

As market forces drive risk management demands, OpenPages is bolstering its GRC offerings to help users more effectively address risk management demands across the enterprise. In April, OpenPages announced:

• OpenPages 5.5 – the newest version of the industry leading GRC platform
• OpenPages Hosting – a new offering that delivers fast time-to-deployment without having to rely on in-house IT departments to deploy the servers, storage and other resources.

In June, OpenPages received a patent for its highly configurable GRC platform, further demonstrating the uniqueness of the company’s technology and its commitment to product innovation. Building on its award winning GRC platform, OpenPages innovated with the introduction of OpenPages EHS - an enterprise risk management solution that automates the process of identifying, measuring and monitoring environmental, health and safety risk.

In addition to platform and solution enhancements, OpenPages was recognized by industry experts for its technology excellence in the GRC management space:

• OpenPages was positioned in the leaders quadrant for Gartner’s “Enterprise Governance, Risk and Compliance Platforms Magic Quadrant, 2008” report.
• OpenPages was chosen by AlwaysOn as one of the Northeast 100 Top Private Companies for creating new business opportunities in high-growth markets, demonstrating significant market traction and pursuing game-changing technology in a key sector.
• OpenPages was named a leader within the 'Premier Division' in the March 2008 Chartis Research Operational Risk Management Systems 2008 report which surveyed hundreds of operational risk vendors.
• OpenPages was cited as a leader in OpRisk & Compliance Magazine’s annual Compliance Software Survey 2008, increasing its position in Compliance Monitoring and Control, GRC, and Regulatory Reporting and ranking consistently in first position for Sarbanes-Oxley for the second year running.

The first half of 2008 also proved to be a successful one in terms of customer commitment and adoption. OpenPages hosted the second annual Executive ERM Forum in May where leading CROs, senior risk and compliance executives and thought leaders gathered to discuss the latest risk management trends and best practices. In addition, OpenPages recently announced that FirstRand Banking Group selected OpenPages ORM to reduce Basel II capital allocation costs and InterContinental Hotels Group PLC (IHG), one of the world's largest hotel groups, selected OpenPages' Enterprise GRC Solution to assist in optimizing the company's global risk management efforts. OpenPages was also chosen as the strategic GRC solution for MasterCard, ICAP and numerous other multinational companies.

"OpenPages has been the definitive leader in the GRC market since its inception and the first half of 2008 represented performance consistent with that tradition," said Michael J. Duffy, president & CEO, OpenPages. "We are seeing elevated attention on enterprise risk management initiatives and I am pleased with the company’s leadership position and growth. We look forward to further customer adoption and continued success in the second half of 2008."

Additional links:

OpenPages blog

About OpenPages

OpenPages is the leading provider of enterprise GRC management solutions that optimize business performance. OpenPages empowers the world’s largest companies by unifying governance, risk and compliance (GRC) activities across the enterprise and by incorporating risk management into their day-to-day business processes. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.

For more information on OpenPages' suite of risk and compliance solutions, please click here or call us at 781.693.5999.