February 12, 2007 08:00 ET

QUMAS Positioned in Visionaries Quadrant in Magic Quadrant for Finance Governance, Risk and Compliance Management Software

Evaluation Based on Completeness of Vision and Ability to Execute

FLORHAM PARK, NJ -- (MARKET WIRE) -- February 12, 2007 -- QUMAS, the leading developer of enterprise governance, risk and compliance solutions, today announced Gartner positioned QUMAS in the Visionary Quadrant in the "Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007" 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 road map that expands support to additional regulatory and non-regulatory compliance needs."

QUMAS believes that organizations are constantly challenged to capture, assess and manage compliance risk. Many lack a systematic process and single platform to realize the comprehensive, continuous compliance program that is needed in today's highly regulated environments.

Increasingly, QUMAS sees more organizations recognizing that by taking a holistic approach to addressing their compliance needs they can attain a greater business advantage.

"QUMAS provides the only true end-to-end closed-loop compliance solution for financial services firms. We believe our positioning in the Visionary Quadrant validates companies' growing need to manage compliance issues on a single platform," said QUMAS CEO Kevin O'Leary. "Applying a closed-loop compliance solution minimizes the risk of disruptive investigations, reduces reputation risk and puts companies in a better position when facing any type of litigation. Our closed-loop compliance solution highlights interdependencies across the enterprise, and provides a proactive way to capture, identify and remediate regulatory violations and compliance risk."

The report, "Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007" was issued on February 1, 2007. The Magic Quadrant assessed 19 vendors "on the products they offer for the management and operational support of compliance with corporate governance regulations and standards, including the capabilities for improving the governance and risk management associated with financial processes. Finance GRCM solutions support the management, workflow, documentation and reporting associated with financial controls, which are required by SOX and other similar regulations."(1)

The QUMAS position in the Visionaries Quadrant of Gartner's Magic Quadrant continues the Company's string of successes over the past year, including:

--  Named Irish Software Association Company of the Year
--  Recognized as a Deloitte Irish Technology Fast 50 Company for the
    seventh consecutive year
--  Named to Software Magazine's Software 500 list for the fifth
    consecutive year
--  Significant expansion of both its customer and strategic partners base
--  Expansion of the QUMAS Research & Development Centre based in Cork,
    Ireland with a substantial investment of EUR 4.4 million and backing from
    Enterprise Ireland
The QUMAS Compliance Suite™ consolidates and standardizes the entire range of enterprise compliance and governance components into a comprehensive framework that eliminates the cost of managing disparate and isolated applications. With the QUMAS Compliance Suite, companies are able to make informed decisions to optimize performance levels, accelerate the delivery of new products and gain control across the enterprise.

About the Magic Quadrant

The Magic Quadrant is copyrighted Feb. 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.


With over a decade of experience, QUMAS is the only global compliance software company offering a complete solution to regulated industries. Recognized as the world leader in Enterprise, Governance, Risk and Compliance, the company has over 250 customer deployments including global leaders such as Fidelity Investments.

The QUMAS solution facilitates an informed, risk-based response to compliance challenges across your business. The QUMAS Compliance Framework channels and focuses resources, providing certainty to your state of compliance as well as meaningful reporting to stakeholders. The result is an optimized closed-loop compliance environment.

The QUMAS Compliance Suite™ provides an end-to-end compliance solution framework that enables organizations to achieve a continuous state of compliance. QUMAS delivers fully integrated Policy and Procedure definition together with business process enforcement, extensive monitoring and reporting facilities that help organizations improve their overall business performance.

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

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