Covalent, the leading Public Sector provider of Governance, Risk and Compliance (GRC) cloud solutions has been positioned as a 'Niche Player' by Gartner, Inc. in the recently released 'Magic Quadrant for Operational Risk Management'¹ report based on ability to execute and completeness of vision.
"We are delighted to have our Performance and Governance software suite evaluated by Gartner," said Peter McHugh, Chief Executive Officer & Founder at Covalent Software. "We believe this recognition validates the significant progress that Covalent has made in broadening its GRC product offering over recent years. Although we have provided risk management capabilities as part of our Corporate Performance solution since our early days, it is only recently that we have positioned this as a stand-alone product, and built-out a number of related GRC offerings."
The Gartner report says, "Operational risk management (ORM) is part of a growing category of corporate GRC software applications that is focused on supporting more formal ORM practices as a key component of a broader enterprise risk management (ERM) program.
Covalent provides a unique and holistic solution to manage operational performance, governance and risk whilst reducing costs and streamlining business processes. Covalent's Risk Management software helps companies achieve their performance by identifying, treating and reducing on different types of risks.
By identifying and assessing risks, monitoring internal controls and reporting results to managers holistically, Covalent's software enables companies to proactively identify risks early on and focus people's attention on areas of concern.
Covalent's Governance, Risk and Compliance solution combines important risk management applications such as risk assessment, monitoring and reporting, incident, audit and compliance management, risk mitigation action planning, and risk analysis.
Gartner, Magic Quadrant for Operational Risk Management by John A. Wheeler and Paul E. Proctor. 15 December 2014.