OpenPagesÂ®, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that technology analyst firm Gartner has listed the company in the leaders quadrant of its Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007(tm) report1.
According to the report, "As the applications have become more complex and with demands for integration of various other technologies that support GRC, vendors are moving to a GRC platform strategy that can integrate finance GRCM with other GRC tools and applications, and also with the general ledger, corporate performance management (CPM) and other business applications."
OpenPages believes this further confirms OpenPages stance that the GRCM market has shifted with the influx in regulations and the desire by customers to abandon point solutions in favor of a platform approach for managing all compliance and governance initiatives within the organisation.
In addition, the report states that, "Many clients have also begun to implement operational risk management, going beyond compliance and better managing and mitigating business process risk - thus improving their business processes."
The organic growth of a process, policy, risk and control framework that goes beyond the objective of achieving compliance with regulations is a trend that OpenPages has seen within its own customer base. Forward-thinking organisations are leveraging the OpenPages Governance Platformsm to not only achieve compliance with regulations but also for continuous process improvement that enhances business resilience.
"We believe our position in the leaders quadrant is an affirmation of OpenPages' mission of enabling our customers to unify governance, risk and compliance processes across an entire organisation into a single management system. Through strong Business Governance initiatives, organisations achieve the visibility, decision support and control essential to improve accountability, better manage risks, achieve compliance across numerous regulations, and improve operational performance," said Michael J. Duffy, CEO of OpenPages. "OpenPages is continuing to execute on its product roadmap moving into 2007. With the recent launch of two new modules, we will deliver a complete, strategic and unified approach to all areas of Business Governance - from financial controls management and operational risk management to general compliance management and IT governance."
The Gartner evaluation comes on the heels of an impressive year for OpenPages which was marked by industry accolades including ranking as the fastest growing private software company in America and number 22 overall on the Inc. 500 list as well as being listed in Deloitte & Touche Fast 50 New England and Deloitte & Touche Fast 500. OpenPages also saw a strong increase in its customer base in 2006, adding to its impressive list of Global 2000 corporations that use OpenPages solutions.