SOURCE: OpenPages

October 26, 2005 08:00 ET

OpenPages Positioned in Visionary Quadrant for the Financial Compliance Process Management Market Magic Quadrant™

Evaluation Based on Completeness of Vision and Ability to Execute

WALTHAM, MA -- (MARKET WIRE) -- October 26, 2005 -- 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 visionary quadrant for its 2005 Financial Compliance Process Management (FCPM) Magic Quadrant™ report.

According to the report, "visionaries have a solid understanding of the market as demonstrated by domain expertise and responsiveness to their customers' expectations. They are actively executing against an aggressive product roadmap that expands support to additional regulatory and non-regulatory compliance needs." Gartner defines vendors listed in the visionary quadrant as having a clear vision of market direction and are focused on preparing for that, but they can still improve in terms of optimizing service delivery.

"We consider our positioning in the visionary quadrant by Gartner further confirmation of OpenPages' vision, direction, and success in providing best-in-class governance, risk and compliance management solutions," said Michael J. Duffy, CEO of OpenPages. "Customers continue to partner with OpenPages at a rapid pace, based on our leading domain expertise, flawless execution and reputation for customer success. With the upcoming launch of our operational risk management software solution, we will further enhance our market position by delivering a solid technology solution that addresses the needs of the GRCM market."

This recognition by Gartner comes at a time when OpenPages shows continued growth in the compliance process management market as their customer base continues to expand. With a total of nearly 150 customers and aggressive growth targets in place for the remainder of 2005, OpenPages' momentum in the market is strong.

OpenPages SOX Express is an enterprise compliance management solution that reduces the time and resource costs associated with ongoing compliance for Sections 302 and 404 of the Sarbanes-Oxley Act. SOX Express combines powerful document management, business process management and flexible reporting capabilities in an extremely easy-to-use environment that enables an organization to document financial controls and automate the ongoing test and review process. Completely web-based, SOX Express maximizes end-user participation with little training. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls framework of the company, and to attest to the financial statements.

For more information on OpenPages' line of enterprise governance, risk and compliance management solutions or to register for a webinar, please call 781-647-3800 or visit www.openpages.com.

About the Magic Quadrant

The Magic Quadrant is copyrighted as of October 24, 2005 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

Founded in 1996, OpenPages is the leading provider of enterprise governance, risk and compliance management (GRCM) software solutions. OpenPages' solutions streamline knowledge-intensive processes to improve corporate accountability, reduce disclosure process cost, enhance internal controls management productivity, and increase investor confidence. The company's portfolio of solutions includes SOX Express, the market-leading enterprise application for automating the compliance requirements of Sections 404 and 302 of the 2002 Sarbanes-Oxley Act, and OPtimum ORM, an enterprise risk management software solution that enables entities to identify, analyze and manage operational risk on an integrated, company-wide basis. The world's largest corporations in diverse markets -- including financial services, manufacturing, telecommunications, media/entertainment, retail/consumer, energy, high technology, health services and life sciences -- rely on OpenPages for cost-effective, efficient, sustainable governance, risk and compliance management. The company is headquartered in Waltham, Massachusetts, with international headquarters in the United Kingdom and Hong Kong, and regional offices throughout North America.

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

Contact Information

  • Contacts:
    OpenPages
    Ed Thomas
    OpenPages
    781.647.3800, ext. 241
    Email Contact

    North America
    Mike Antonellis
    Lois Paul & Partners
    781.782.5832
    Email Contact

    Europe
    Louise Matthews
    Harvard Public Relations
    +44 208 759 0005
    Email Contact