Specialist Risk Research Firm Cites OpenPages as a Leader in Operational Risk Management Systems

21 April 2008

OpenPages®, a leading provider of enterprise GRC management solutions that optimize business performance, today announced that it was named a leader within the ‘Premier Division’ in the March 2008 Chartis Research Operational Risk Management Systems 2008, a Chartis Research report. Chartis Research surveyed hundreds of operational risk vendors; from which OpenPages was selected as one of the leaders in the report - which evaluated operational risk management systems, covered market and regulatory requirements and the competitive landscape.

The Chartis report noted that OpenPages is one of a handful of vendors that “have established themselves as clear leaders and form the premier league”. In terms of on-going innovation, Chartis noted that “successful vendors need to keep enhancing functionality and redesigning the architecture of their solutions” and that “OpenPages has shown a good flow of ongoing innovation over the past 24 months”. The report also explained that domain expertise is crucial in addition to the software solution and companies must be able to “assist in the implementation, training and methodological aspects of ORM.” OpenPages was cited as “particularly strong in this area.”

Finally, the report cites vendor rankings from a customer survey of 182 ORM system customers within the financial services sector. OpenPages ranked leader in both usability and customer support categories and was recognised as number three in global market penetration.

“We are extremely pleased to be identified as a leader within the ‘Premier Division’ in the Chartis Operational Risk Management Survey for ORM," said Michael J. Duffy, president and CEO of OpenPages. “In the last year we have seen a shift in perspective as more customers look to integrate their operational risk practises as part of an enterprise-wide GRC strategy. OpenPages’ vision is to empower companies by unifying GRC across the enterprise and incorporating risk management into daily business processes – the Chartis report reflects this alignment and brings us step closer to our goal.”

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