SOURCE: OpenPages

November 15, 2007 08:30 ET

OpenPages Reports Record Growth in Enterprise Risk Management Business

Key Customer Wins in EMEA and Japan Lead to Record Growth in Those Regions

WALTHAM, MA--(Marketwire - November 15, 2007) - OpenPages, the leading provider of enterprise risk management solutions that optimize business performance, announced today that for the first three quarters of 2007 their revenues for the enterprise risk management (ERM) business grew by over 100% worldwide, as compared to the same time period last year. OpenPages enterprise risk management solutions help companies manage multiple risk and compliance initiatives on a single, integrated technology platform.

Demand for OpenPages ERM solutions was strong across all regions and resulted in several significant competitive wins in the US, Japan and UK markets. In EMEA, OpenPages' ERM business more than tripled over the prior year. In the US, OpenPages closed several deals worth more than $1 million. The company also announced today additional customer wins in the US: Delek, Metals USA, and Scientific Games. These customers and others are managing a variety of risk and compliance initiatives on the OpenPages platform, including operational risk, industry compliance, IT risk and compliance, and financial controls management.

Fueling OpenPages global momentum is its ability to deliver its solutions in several native languages. OpenPages offers its solutions in multiple languages, including English, German, Japanese, French, and Spanish. As a result, companies can manage risk and regulatory compliance initiatives in native languages locally on a single system deployed globally for a unified view of risk status.

"We are very pleased with our results to date for 2007," said Michael J. Duffy, President & CEO of OpenPages. "We are partnering with the world's leading companies to provide strategic solutions for enterprise risk management. Our unique value proposition combines deep domain expertise and powerful software solutions that adapt to our customers' unique risk management methodologies, without custom code. Our year-to-date results coupled with the many industry accolades received in 2007 substantiate our position as the leading provider of enterprise risk management solutions."

Other key milestones for the first three quarters of 2007 include:

-- Release of the company's third, fourth and fifth technology modules - OpenPages ITG, OpenPages GCM and OpenPages Audit - to round out OpenPages' solutions for enabling customers to apply an integrated approach to managing risk throughout the entire organization

-- Company-wide award recognition by Red Herring 100, the Massachusetts Technology Leadership Council (MTLC), Deloitte Fast 50 New England and the prestigious Deloitte Fast 500

-- OpenPages' CEO Michael J. Duffy named an E&Y Entrepreneur of the Year for the New England region and a Top 100 Influencer in Finance by Treasury & Risk Magazine

-- Successful OpenPages User conference - OPUS IV - which featured a keynote session by Harvard Law School Professor and Director of the Committee on Capital Markets Regulation Hal Scott

For more information, please visit the following links:

-- Upcoming webinars

-- OpenPages blog lead by risk and compliance experts Mike Flouton, Jeff DeRose, Patrick O'Brien, Scott Kwarta, Gordon Burnes and Derek Titterington. See http://www.openpages.com/blog/

About OpenPages

OpenPages is the leading provider of enterprise risk management solutions that optimize business performance. OpenPages empowers the world's largest companies by unifying governance, risk and compliance (GRC) activities across the enterprise and by incorporating risk management into their day-to-day business processes. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.

For more information on OpenPages' suite of risk and compliance solutions, please call 781-693-5999 or visit www.openpages.com.

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

Contact Information

  • Contacts:
    OpenPages
    Sue Roberts
    OpenPages
    781.647.5941
    Email Contact

    North America
    Jessica Sutera
    Lois Paul & Partners
    781.782.5789
    Email Contact

    Europe
    Charlotte Hanson
    Harvard Public Relations
    +44 208 564 6331
    Email Contact