Openpages Cited as a Leading Firm in OpRisk and Compliance's Operational Risk Software Survey 2008

OpenPages®, a leading provider of enterprise GRC management solutions that optimise business performance, today announced that it was named a leading firm within the OpRisk & Compliance Operational Risk Software Survey 2008. OpenPages gained a place on the 2007 survey and was ranked fifth in the closely fought annual survey, in which over 15 vendors were evaluated.

OpRisk & Compliance’s annual survey results were compiled from over 200 senior level executives across Europe. The survey consisted of five categories in which OpenPages increased ground in three categories. In Regulatory and Economic Capital OpenPages moved up four places to the fifth spot - up from ninth in 2007. For Scenario Analysis OpenPages moved up to fifth - up from seventh place from the previous year. In Operational Risk Loss Data OpenPages moved up one spot to fifth place. For Key Risk Indicators and Risk Control Self Assessments OpenPages ranked fifth place.

“We are extremely pleased to be identified as a leader within the OpRisk and Compliance Operational Risk Software Survey 2008,” said Michael J. Duffy, president and CEO of OpenPages. “The competitive landscape has changed in the last year and results show the gap is closing as the market consolidates. We have seen a shift by companies who - in light of current market conditions - are firmly embracing a holistic, enterprise-wide GRC strategy. OpenPages’ vision is to empower companies to achieve superior performance through enterprise-wide GRC management – the OpRisk and Compliance annual survey reflects this thinking and validates our team’s efforts for continuing business growth in 2008.”

Victoria Pennington, deputy editor, OpRisk and Compliance said, “The movement in the rankings demonstrates how the number and sophistication of op risk software vendors improves as the market matures. Over the past 12 months, banks have been focusing on getting their risk control self-assessments (RCSAs) and op risk loss data collection up to speed as they make the final push towards advanced management approach approval in Europe”. View the Operational Risk Software Survey 2008.