SOURCE: Rsam

Rsam

October 24, 2013 13:04 ET

Rsam Announces Record Growth in 2013

Revenue Growth Fueled by Success of Rsam V8, Increasing Trend Toward Consolidation of GRC Tools and Market Demand for Greater Enterprise Risk Intelligence

SECAUCUS, NJ--(Marketwired - October 24, 2013) - Rsam, the industry-leading provider of Governance, Risk and Compliance (GRC) and Security Risk Intelligence (SRI) solutions, today announced a healthy double digit year-over-year revenue growth in 2013 and is well-positioned for continued growth in 2014.

Leveraging the successful launch of Rsam v8 earlier this year, Rsam is benefiting from growth in two major areas:

  • Consolidation of GRC tools - Since the rise of Sarbanes-Oxley and other regulations over a decade ago, many organizations amassed 6-12 purpose-built GRC applications to demonstrate compliance, pass audits and meet other departmental compliance objectives. These organizations are now taking a platform-based approach to improve efficiency by leveraging the Rsam Platform to consolidate existing and legacy tools while gaining increased functionality.
  • Expansion of Enterprise GRC - Rsam is expanding its enterprise footprint beyond IT and security risk groups to include buying center in internal audit, corporate compliance, enterprise risk (ERM) and vendor management that are reaping the benefits of Rsam solutions.

"With the acknowledged success of Version 8 and the growing demand for integrated solutions, 2013 has become an impressive year for Rsam," said Vivek, Shivananda, CEO of Rsam. "Increased demand for Internal Audit, Vendor Management and Enterprise Risk consolidation has allowed us to continue to expand our footprint in EGRC, which now accounts for 40 percent of our revenue."

In the past nine months, Rsam has released the highly anticipated Version 8.0, launched the innovative Security Risk Intelligence (SRI) solution and greatly expanded its relevance to internal audit, corporate compliance and enterprise risk buying centers. As many organizations continue consolidation of various purpose-built GRC tools, Rsam's flexibility and the superior interface of the Rsam Platform reinforce the market's acceptance of Rsam as the de-facto choice for aggregating existing solutions, while providing valuable supplemental and actionable insight.

"We've had a tremendous third quarter, closing multiple deals in excess of $1M and adding ten new Fortune 500 organizations to our customer base," said Neil Hooper, Senior Vice President of Sales for Rsam. "This growth comes on the heels of a 'Strong Positive' rating, the highest possible, in Gartner's MarketScope Report and a 5-Star rating from SC Magazine. We anticipate that in the coming year we will build on these successes while continuing to increase our relevance and value to tomorrow's successful enterprises."

About Rsam
Rsam provides the most intuitive and flexible solutions to help organizations successfully manage unique risk, compliance, audit and security needs, quickly. Businesses across the globe trust Rsam technology to minimize risk exposure and decrease the cost of compliance. As the only object-based solution for governance, risk and compliance, Rsam provides businesses with unparalleled visibility, intelligence and control of risk factors. Enterprises use the intuitive interface of the Rsam Platform to automate challenging processes without the need for additional coding or costly professional services. Rsam's unique and proven approach has earned the confidence of global customers in financial services, healthcare, government and other highly-regulated industries and gained repeated recognition as an industry leader by independent analyst and industry press.

Contact Information

  • Media Contact
    Alla Valente
    Director of Marketing 
    P: (201) 867-1032  
    E: avalente@rsam.com