OPENPAGES Extends MOMENTUM IN BUSINESS GOVERNANCE TECHNOLOGY MARKET
Customer Growth, Expanded Product Line and Broadened Global Footprint
Highlight Successful First Half of 2006
Waltham, Mass. – July 24, 2006 – OpenPages today announced continued momentum in the fast-growing Business Governance software market, highlighted by strong customer growth, an expanded product line and a broadened global footprint. Through the first six months of the year, OpenPages grew its customer based to nearly 200 customers; opened offices in Tokyo, Paris and Munich; introduced its Operational Risk Management solution, signed a major distributor agreement for Japan with CAC and shipped the fourth generation of its market leading solution for Financial Controls Management.
OpenPages attributes its momentum to the continued adoption of its Governance Platform, which enables organizations to unify the silos of governance, risk and compliance information. “Today, organizations are looking for broader governance solutions that go beyond compliance with financial regulatory mandates like Sarbanes-Oxley,” said Brian Cleary, Vice President of Marketing for OpenPages. “Point solutions are no longer enough. They are not extensible enough to provide the capabilities needed to address broader governance requirements across numerous compliance and operational risk initiatives, nor are they flexible or scalable enough to address the needs of large, complex organizations. OpenPages has seen evidence of this change in buying behavior over the past six months with a significant number of new platform customer wins, many of which have been first-generation point solution replacements.”
The OpenPages Governance Platform serves as the foundation for enterprise-wide Business Governance through its ability to unite an organization’s governance, risk and compliance initiatives into a single management system. The OpenPages Governance Suite combines best-in-class solutions for:
Operational Risk Management -- OpenPages ORM automates the process of identifying, measuring and monitoring operational risk on an integrated, company-wide basis. OpenPages ORM allows risk managers to reduce the likelihood and impact of unexpected business events, which helps to minimize earnings volatility, protect against reputational damage, ease regulatory burdens, optimize capital allocation reserves and ensure that operational performance meets expectations.
Financial Controls Management -- OpenPages FCM enables organizations to automate ongoing compliance with worldwide financial reporting regulations (including the Sarbanes-Oxley Act, Loi de Sécurité Financière in France, Bill 198 in Canada, JSOX in Japan and more). OpenPages FCM automates the scoping, documentation, testing, review, approval and certification activities related to financial controls management – reducing the time, cost and complexity associated with achieving and demonstrating compliance.
IT Governance -- Available in Q4 2006, OpenPages ITG facilitates excellence in IT Governance by aligning IT processes, policies and operations management with corporate strategies. OpenPages ITG enables the relationship between all IT services to be understood in context of the business processes they support, which enables the IT organization to make critical decisions based on priority, risk and value in order to meet needs of the organization.
General Compliance Management -- Available in Q4 2006, OpenPages GCM is a general compliance management solution that makes sustaining compliance to multiple regulatory mandates efficient. Delivered as a module of the OpenPages Governance Platform, OpenPages GCM drives efficiency, accountability, confidence and stronger performance into compliance operations.
The combination of the OpenPages Governance Platform and solutions is the nucleus of the organization’s Business Governance ecosystem, coordinating all governance, risk and compliance management activities throughout the enterprise.
In addition to its customer, sales and product line expansion, OpenPages received numerous accolades from leading industry and analyst organizations, including recognition as a Strong Performer in the Forrester Wave™: Governance, Risk, And Compliance Platforms, Q1 2006, by Michael Rasmussen, with John R. Rymer and Samuel Bright[1]; being named a Top Five Operational Risk Management (ORM) System Vendor in the Chartis Research report, “Operational Risk Management Systems 2006”; and CEO Michael Duffy’s selection as a finalist for the Ernst & Young Entrepreneur of the Year Award for the second consecutive year.
[1] The Forrester Wave™: Governance, Risk, And Compliance Platforms, Q1 2006, Forrester Research Inc. March 16, 2006
OpenPages is the leading provider of integrated risk management solutions for global companies. The OpenPages Governance, Risk and Compliance (GRC) Platform empowers a risk-based approach to identify and manage key business risks across the enterprise. This approach enables companies to focus on what’s important and to avoid unexpected outcomes while improving performance. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in the United Kingdom, distribution partners in Japan and South Africa and regional offices throughout North America.
For more information on OpenPages' governance, risk and compliance solutions, please click here or call us at 781.693.5999.
