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OpenPages Continues Strong Momentum in Q1 2008

OpenPages®, the leading provider of enterprise GRC management solutions that optimize business performance, today announced a strong start to 2008. Building on its strong financial performance in 2007, OpenPages’ growth continues in 2008 with important customer wins that underscore the ongoing critical need of global organizations for a comprehensive approach to enterprise-wide risk management. Significant customers secured in Q1 include MasterCard, ICAP, and InterContinental Hotels Group (IHG) who all committed to OpenPages’ market leading enterprise GRC management solution.

As companies maneuver their way through the current uncertain economic environment, many are rethinking their risk management strategies. This rethinking, coupled with recent unexpected events including a dramatic drop in valuations for securitized debt, rogue trading, and data breaches leading to identity theft and fraud are pushing risk management to the forefront of senior management’s agenda. Given the significant benefits of an integrated approach to risk management, organizations continue to turn to OpenPages for enterprise-wide GRC management solutions. To address this, OpenPages announced today the newest version of the OpenPages Platform – version 5.5 – which has been further refined to enable firm-wide management of risk exposure. The company also announced, a new service offering, OpenPages Hosting, to enable customers to easily deploy OpenPages’ solutions without the cost and time required from internal resources associated with installing and managing an in-house system.

Continued growth, new customer wins, and a new hosted service have all contributed to the company’s success in Q1. Further validating OpenPages’ ongoing leadership in the enterprise GRC management space, the company was recently honored with industry accolades, both in the US and abroad, including the following achievements:

OpenPages was recently named to the first-annual AlwaysOn Northeast Top 100 Private Companies list; companies named to the list are recognized for creating new business opportunities in high-growth markets through game-changing technology.

OpenPages was cited a leader by Chartis Reseach in their annual “Operational Risk Management Systems 2008” report where OpenPages was lauded as one of the clear leaders in the “premier league” for operational risk management software.

“This year is an important one for OpenPages as we witness the continued shift by companies who – in light of current market conditions – are firmly embracing a holistic, enterprise-wide approach to managing risk from the business unit level all the way up to senior management,” commented Michael J. Duffy, President & CEO, OpenPages. “I am pleased with the company’s growth this quarter and our team’s accomplishments in widening our leadership position in the enterprise GRC management marketplace.”