SOURCE: OpenPages

February 06, 2007 08:00 ET

OpenPages Placed in the Leaders Quadrant in the Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007™

Evaluation Based on Completeness of Vision and Ability to Execute

WALTHAM, MA -- (MARKET WIRE) -- February 6, 2007 -- OpenPages®, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that technology analyst firm Gartner has listed the company in the leaders quadrant of its Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007™ report.(1)

According to the report, "As the applications have become more complex and with demands for integration of various other technologies that support GRC, vendors are moving to a GRC platform strategy that can integrate finance GRCM with other GRC tools and applications, and also with the general ledger, corporate performance management (CPM) and other business applications."

This report further confirms OpenPages' stance that the GRCM market has shifted with the influx in regulations and the desire by customers to abandon point solutions in favor of a platform approach for managing all compliance and governance initiatives within the organization.

In addition, the report states that "many clients have also begun to implement operational risk management, going beyond compliance and better managing and mitigating business process risk -- thus improving their business processes."

The organic growth of a process, policy, risk and control framework that goes beyond the objective of achieving compliance with regulations is a trend that OpenPages has seen within its own customer base. Forward-thinking organizations are leveraging the OpenPages Governance Platform(SM) to not only achieve compliance with regulations but also for continuous process improvement that enhances business resilience.

"We believe our position in the leaders quadrant is an affirmation of OpenPages' mission of enabling our customers to unify governance, risk and compliance processes across an entire organization into a single management system. Through strong Business Governance initiatives, organizations achieve the visibility, decision support and control essential to improve accountability, better manage risks, achieve compliance across numerous regulations, and improve operational performance," said Michael J. Duffy, CEO of OpenPages. "OpenPages is continuing to execute on its product roadmap moving into 2007. With the recent launch of two new modules, we are delivering a complete, strategic and unified approach to all areas of Business Governance -- from financial controls management and operational risk management to general compliance management and IT governance."

The Gartner evaluation comes on the heels of an impressive year for OpenPages which was marked by industry accolades including ranking as the fastest growing private software company in America and number 22 overall on the Inc. 500 list as well as being listed in Deloitte & Touche Fast 50 New England and Deloitte & Touche Fast 500. OpenPages also saw a strong increase in its customer base in 2006, adding to its impressive list of Global 2000 corporations that use OpenPages solutions.

About the Magic Quadrant

The Magic Quadrant is copyrighted February 1, 2007 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About OpenPages

OpenPages is the leading provider of enterprise risk management software solutions. The company's solutions provide the visibility, decision support and control to improve accountability, better manage risk, achieve compliance with numerous regulations, improve operational performance and align strategies to ensure better results.

Market-leading corporations in financial services, manufacturing, telecommunications, media/entertainment, retail/consumer, energy, high technology, health services and life sciences rely on OpenPages to help them achieve sustainable governance, risk and compliance management -- enabling them to become well-governed businesses. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with regional offices throughout North America and international offices in London, Tokyo, Munich, Hong Kong, and Paris.

For more information on OpenPages' suite of business governance software solutions or to register for an online demonstration, 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.

(1) Gartner, Inc. "Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007," by French Caldwell and Tom Eid, Feb. 1, 2007.

Contact Information

  • Contacts:

    OpenPages
    Brian Cleary
    OpenPages
    781.693-5921
    Email Contact

    North America
    Michael Parker
    Lois Paul & Partners
    781.782.5714
    Email Contact

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