Prodiance Continues Momentum in 2008, Maintains Market Leadership for Enterprise Spreadsheet and EUC Control

26 January 2009

Prodiance Corporation, a leading provider of Governance, Risk and Compliance solutions, today announced a very successful finish to their 2008 fiscal year, winning several new enterprise customers, releasing innovative product enhancements, and winning awards to validate their momentum and leadership position in the market for Enterprise Spreadsheet Management software. Prodiance saw a significant increase in demand from existing customers with expansions in several accounts tripling from hundreds of departmental users to thousands of enterprise users across multiple geographies. In addition, Prodiance expanded into several new markets, including a global account with a marquee high tech computer manufacturer supporting users across the US, Europe and Asia.

"In today's uncertain economy, there is an ever-present need for organizations to improve governance, oversight and transparency," said Dr. Soheil Saadat, president and CEO of Prodiance Corporation. "Regulators, auditors, and industry experts are urging companies to strengthen their financial controls over critical spreadsheets and end-user computing applications (including Access databases) despite cost cutting efforts. Prodiance is taking a leadership role in helping companies achieve these goals while driving process improvement and sustainability."

Recently the SEC urged CEO's of registered firms in a letter to keep up compliance programs despite cost cutting measures.

Summary of 2008 Accomplishments

• Acquired several new blue chip customers across a variety of industries, including telecommunications, insurance, high tech, capital markets (hedge funds), banking, energy, and tax and audit services.

• Received repeat business from several existing accounts, reaffirming Prodiance's high level of customer satisfaction.

• Won every head-to-head, hands-on product evaluation versus competitive products based on ease-of-use, ability to meet specific customer needs, ease of deployment, and ability to scale in support of global deployments.

• Delivered many innovative product enhancements across the Prodiance product suite, including Prodiance eDiscovery, Prodiance Spreadsheet IQ and Prodiance Enterprise Spreadsheet Manager, and enhanced integration with Microsoft Office SharePoint Server 2007.

• Introduced new QuickStart Program and services to help companies accelerate spreadsheet and EUC discovery, inventory, and risk assessment.

• Maintained Microsoft Gold Certified Partner accreditation and managed partner status.

• Participated as a key member of the Microsoft ISV Partner Advisory Council (PAC).

• Established key go-to-market partnerships with several Big 4 audit firms, and continued expansion of key channel partnerships in the US, Canada, and UK including Jefferson Wells International and Trintech.

• Received recognition and validation from several leading industry analyst firms, including a "Positive" rating from the leading firm.

• Was named to both the San Francisco Business Times list of 50 Fastest Growing Companies in the San Francisco East Bay, and the Top 100 Fastest Growing Private Companies in the entire San Francisco Bay Area for 2008.

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