SOURCE: Venice Consulting Group

March 12, 2008 10:15 ET

A COOL Launch: Venice Consulting Group and IMAG Launch Enhanced Risk Diagnostic Mapping Tool

New Generation of COOLMaps Now Available to Help Companies Capture Business, Operational, and Regulatory Risk

VENICE, CA--(Marketwire - March 12, 2008) - Venice Consulting Group (VCG), a leading software development and consulting firm based in Venice, California, in cooperation with International Management Advisory Group (IMAG), has announced the launch of COOLMaps 2.0. The newly launched COOLMaps Risk Diagnostic Tool is built from the latest in web services technology, allowing clients and partners access to a flexible web-based system that supports risk-mapping processes in an easy-to-use and highly configurable user interface. This tool is designed to quickly identify risk process factors and provide guidance on alternative paths to help mitigate these risks.

COOLMaps is IMAG's next generation state-of-the-art non-database risk analysis methodology designed to capture business, operational, and regulatory risk within a product or service flow. Using COOLMaps, businesses can operate more efficiently by easily viewing their process flows, control tools and metrics, identification and analysis of risks. In addition, they can also view the proposed solutions within the process flow at the same time. COOLMaps is currently in use by numerous Fortune 100 companies, and has been successfully utilized by a number of mortgage companies, banks, and securities firms.

The new system was developed on the Microsoft .NET 3.0 Framework and is offered in desktop, enterprise and Software-as-a-Service (SaaS) versions. The new framework is best suited to accommodate the tool's wide-ranging feature set, enabling vector graphics that enhanced the visual experience and allowing for a much more rapid development cycle.

The core server integration was centered on the 2007 version of the Microsoft SharePoint Services platform. The new version of COOLMaps developed by VCG also included tools for adding rules to support various different customer requirements. Leveraging SharePoint also enabled IMAG to give its customers the option of moving to a hosted environment or a standalone on-site deployment.

"Given all of the recent turmoil in the market, it is more important than ever that companies accurately forecast and mitigate risk," says Robert Cone, managing partner of IMAG. "Through the years IMAG has proven the success of our process approach to risk management with COOLMaps. This joint product launch with VCG represents the next successful step in managing risk for businesses. VCG was able to cut the total development time in half compared to initial estimates, impressive considering the complex business requirements."

"We are extremely proud of this new product launch," says Jake Ryan, managing partner for VCG. "IMAG brings a new dynamic to the market by aggregating years of expertise and experience into a single application that can easily identify and mitigate process risk. We believe this is another example of how VCG provides world-class services to firms who need robust applications that demand high reliability and usability."

About Venice Consulting Group

Venice Consulting Group is a leading software consulting and development company, specializing in time-sensitive and mission-critical system development. With extensive experience in technologies such as .NET, Java and open-source environments, our consortium of seasoned consultants deliver quality solutions on time and within budget. The benefit of our consortium approach is our agility and flexibility. Because of our depth of resources, we can field complete project teams or skilled individuals to augment your team quickly. Our team has deep industry experience that cross many vertical markets from real estate to media & entertainment to new start-up ventures. Please visit us at www.veniceconsulting.com to learn more.

About IMAG, Inc.

IMAG, Inc., the International Management Advisory Group, founded in 1993, is headquartered in New York City. IMAG's reputation risk solutions combine experienced consulting practices with innovative non-data base systems to provide financial institutions with practical methodologies for managing reputation risk. In 2002, IMAG introduced "COOL," a proprietary risk analysis and solution methodology that identifies business, operational, and regulatory risks. In 2004, IMAG introduced "R3," a reputation risk reduction methodology, which coupled with COOL analysis, permits management teams to focus attention on prioritized areas of risk that require immediate attention. COOL and R3 have been successfully utilized by a number of mortgage companies, banks, and securities firms.

For more information about IMAG, Inc., please visit www.imagny.com or call 212-697-2424.

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