OpenPages cited as a leading provider in OpRisk & Compliance’s annual Operational Risk Software Survey 2009

OpenPages, the leading provider of integrated risk management solutions for global companies, today announced that it was named in the top three within the OpRisk & Compliance Operational Risk Software Survey 2009. OpenPages improved two positions over the 2008 survey in the closely fought annual survey in which over 15 vendors were evaluated.

OpRisk & Compliance’s research results were compiled from over 10,000 readers of the magazine from around the world and were also promoted through the OpRisk & Compliance ‘Linked In’ group online. OpenPages climbed the rankings in four of the five categories assessed in the survey:

• In ‘Scenario Analysis’, OpenPages moved up four places to first spot – up from fifth in 2008.
• In both ‘Operational Risk Loss Data’ and ‘Key Risk Indicators’, OpenPages moved up two spots to third place.
• For ‘Risk Control Self Assessments’, OpenPages moved up one rank to fourth place.
• In ‘Regulatory and Economic Capital’, OpenPages came fifth – retaining its ranking from 2008.

“We are delighted that users find such value in our solutions and have again supported us in the OpRisk & Compliance Operational Risk Software Survey 2009,” says Michael J. Duffy, president and CEO of OpenPages. “In these tough economic times companies are looking to deliver integrated risk management systems by embracing a holistic, enterprise-wide strategy for risk and compliance initiatives. OpenPages is at the heart of the evolution of a new era of risk management and is helping empower companies to identify and manage key business risks across the enterprise – the survey results are evidence of our continuing efforts in this area and business growth in 2009.”

Victoria Pennington, editor, OpRisk & Compliance said, “Regardless of politicians’ and regulators’ promises to strengthen risk management and compliance, times are tough for financial services firms right now.

Even with such a gloomy outlook, the response to this year’s OpRisk & Compliance annual software survey has been the strongest yet. As usual, however, the margins between the players in the top tier were minimal, as the largest four companies tussled for control of the different categories.”