SOURCE: OpenPages


January 19, 2010 14:48 ET

Enterprise GRC Leader OpenPages Reports Global Growth and Sustained Profitability in 2009

Company's Success Driven by Broad Adoption of Integrated Risk and Compliance Management Solutions

WALTHAM, MA--(Marketwire - January 19, 2010) -

News Facts

-- OpenPages, the leading provider of integrated risk management solutions for global companies, today announced that it has closed a profitable year, one fueled by strategic customer and partner growth, third party validation and global expansion.

-- With heightened focus on the efficiency of risk management and compliance programs, OpenPages helped companies reduce cost, better manage risk and improve decision making through their GRC initiatives. As such, the company earned its most profitable year yet. Further, the company improved its position in the enterprise GRC market, with close to 100% of its business supporting multiple GRC initiatives, and the company expects its growth to accelerate in 2010.

-- Customer wins across various industries drove the company's growth around the globe and further marked OpenPages as an industry leader in 2009. Significant new customers for the fourth quarter of 2009 included several of the world's leading banks in South Africa and Japan (see below) as well as:

---- Yamato Holdings, a Japan-based company engaged in logistics, delivery, home convenience, financial, e-business and other businesses who in a separate announcement today, selected OpenPages for financial controls management.

---- The Indiana Office of Technology (IOT) and the Indiana Department of Homeland Security (IDHS), state agencies providing leadership for a safe and secure Indiana.

-- OpenPages made strong inroads into several key regions across the globe in 2009:

---- In South Africa, OpenPages expanded its presence with key customer wins including a leading international long-term savings group based in South Africa and The Absa Group Limited (Absa), one of the country's largest financial services groups. The company also announced a strategic partnership with The IQ Business Group (IQ), a global provider of practical business solutions to optimize operational and technological efficiencies, who will help deliver professional services, for OpenPages customers and prospects in South Africa.

---- OpenPages also made significant traction in Japan with the addition of a leading Japanese bank holding company and Yamato Holdings as new customers.

---- Additionally, in EMEA, which now represents more than 40 percent of OpenPages' global revenue, the company was able to secure several major customer wins and was also validated by end-user survey rankings -- OpRisk & Compliance cited OpenPages as the global leader in 'compliance monitoring and control' within OpRisk & Compliance's Annual Compliance Software Survey 2009.

-- OpenPages hosted several customer events in different global regions to serve as educational sessions for risk management practitioners. These included: OpenPages European Network Summit (OPEN) 2009, the third-annual Executive ERM Forum and OpenPages African Network (OPAN) Summit 2009, an event in Johannesburg that brought together members of OpenPages' African network, including some of the region's top banking industry leaders.

-- In 2009, OpenPages conducted two separate independent customer surveys. Key learnings about the GRC market emerged:

---- Most organizations are making progress on improving IT risk management but still have room to make progress in integration with enterprise GRC initiatives, and;

---- Investments in GRC technology will increase or at least remain the same in 2010, despite predictions that IT spending will be down or flat.

-- On the social media front, OpenPages relaunched its blog in 2009, which features regular posts from executives on timely industry news and issues, as well as guest columns from GRC pundits such as Rick Steinberg, John Wheeler and others. OpenPages is also actively participating on Twitter via @openpages and LinkedIn via the OpenForum LinkedIn User Group.

-- From a partnering perspective, OpenPages greatly strengthened its business and technology partner network in 2009, announcing new partnerships with PricewaterhouseCoopers and Network Frontiers, which provides the Unified Compliance Framework (UCF) for OpenPages Enterprise GRC Platform.

-- Finally, OpenPages solidified its leadership position in the Enterprise GRC management market with validation from leading industry analysts including:

---- OpenPages was positioned in the Leaders Quadrant for Gartner's 2009 Enterprise Governance, Risk and Compliance Platforms Magic Quadrant.

---- Forrester Research cited OpenPages as a Leader in Enterprise Governance, Risk and Compliance Platforms (EGRC).

---- OpenPages was also cited as a leading provider of operational risk management (ORM) software in the Chartis Operational Risk Management Systems 2009 market analysis report.

---- OpenPages was recognized as a leading software company in the Enterprise Operational Risk Management Compliance, and Governance Solutions report by independent analyst group, Celent.

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@openpages reports that 2009 was a banner year for the #GRC company

Supporting Quote from Michael J. Duffy, President and CEO, OpenPages

"2009 was an outstanding year of accomplishments for OpenPages. We experienced record revenues and profits for our enterprise GRC suite while we achieved significant operational and product milestones. Our growth and success is being fueled by customers' adoption of a platform approach to integrated risk management, which includes operational risk, compliance, information security, vendor risk management, business continuity and other critical GRC initiatives. We are grateful for the opportunity to serve our customers in their efforts to streamline their risk and compliance initiatives and empower their leadership teams to proactively manage risk across the enterprise."

Please contact Jessica Sutera to arrange for further quotes regarding this announcement or to request an interview with an OpenPages executive.

Supporting Resources

-- Link to OpenPages blog:

-- Follow us on Twitter:

About OpenPages

OpenPages is the leading provider of integrated risk management solutions for global companies. The OpenPages Governance, Risk and Compliance (GRC) Platform empowers a risk-based approach to identify and manage key business risks across the enterprise. This approach enables companies to focus on what's important and to avoid unexpected outcomes while improving performance. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in the United Kingdom, distribution partners in Japan and South Africa and regional offices throughout North America. For more information, please visit

OpenPages is a trademark of OpenPages, Inc. All other trademarks contained herein are the property of their respective owners.

Contact Information

  • Contact:
    Jessica Sutera
    Lois Paul & Partners
    Email Contact
    (781) 782-5789

    Gareth Williams
    Harvard Public Relations
    +44 208 759 0005
    Email Contact