BWise Reports Fifth Consecutive Year of Strong Growth and Bottom-line Profitability

30 January 2009

BWise, the leading provider of governance, risk and compliance (GRC) software solutions, today announced the fifth year in a row of double digit growth and net profitability for each quarter in 2008. In response to rapidly expanding market adoption of GRC solutions, BWise has continued to expand its infrastructure and product offerings to meet evolving demand, further emphasizing and validating its market leadership. This growth is exemplified by outstanding results from BWise:

•New deals in more than 20 countries in North and South America, Europe, Asia and Africa. This is the strongest global spread of any pure-play GRC vendor.
•BWise consultants have traveled to over 30 countries in 2008, performing implementations across the globe.
•BWise now has 300,000 users, with well over 500 GRC clients in over 80 countries.
•In 2008, the company launched BWise 4.0, which reconfirms BWise’s leading position in GRC technology, integrating Governance, Risk Management and Compliance with a strong backbone of Process Management. No other GRC vendor offers such a strong GRC data model, enabling the convergence of all existing initiatives into one solution.
•In 2008, BWise replaced several older audit and GRC systems at key Fortune 500 enterprises.

Robert Pijselman, CEO of BWise said, “BWise is the only GRC vendor that has demonstrated double digit growth and profitability for five years in a row, and who has sold and implemented in more than 20 countries.” Mr. Pijselman went on to say, “More and more customers have decided to upgrade their current systems and solutions with BWise software and services. Quite a few companies decided in the early days of SOX on a quick solution to solve their immediate requirements, but over time have found that those
services are sorely lacking; upgrades are difficult and expensive and the competitor’s user interface is difficult and unorthodox. That is when BWise has come in and offered one product with one code base with nine fully integrated modules, with standard functionality and ease of use across all modules.”

BWise continues to set industry standards for excellence in GRC in a wide range of sectors worldwide including financial, energy, semi-conductor/technology and government. This continued market growth and development positioned BWise for a record year in 2008. BWise also reported significant wins in the United States providing high growth percentages. Further customers wins included renowned customers in the Nordic and Benelux regions, France, Germany, Switzerland, Kuwait and China.

Luc Brandts, CTO and Founder of BWise said, “We believe in common sense and the old-fashioned way of building a business, in this case a modern business. That is, focus on the success of the customers by helping them to streamline their risk and compliance processes, and then BWise will see success. We listen to our customers, share our experience and knowledge with them and are continually improving the BWise product.”

Mr. Brandts continued, “At BWise, we shape our success by that of our customers. A look at the Web TV series on our web site, for example, gives a glimpse into the benefits that our solution has delivered. Executives stepping in front of the camera to speak about the success they have seen with BWise speaks volumes. We are enormously pleased with our continued expansion and increasing market adoption that validates our ability to deliver results.”

Mr. Pijselman also noted, “We have had multiple strategic deals in the U.S. GRC market that have tripled BWise U.S. revenue; including winning deals involving high level, strategic enterprise risk management plans and those that involve replacing simpler, older audit solutions. This has positioned BWise into a leading U.S. market position, after being the European leader for several years. As the entire GRC, regulatory and business process market continues to evolve and converge, expect BWise’s differentiation through its roots in process management to continue to shine through to analysts of the GRC market. Look for BWise to continue its dominance of the GRC space globally in 2009, as we did in 2008.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development