This week in the GRC space, there were significant releases from both EMC and IBM’s new acquisition OpenPages. Compliance vendor Compliance 360 looks ahead in 2011 to how the directors of major corporations will react to GRC over the year, and open source OpenLogic reports record sales driven by its new open source compliance offering.
IBM’s OpenPages Releases v6.0
OpenPages 6.0 couples business intelligence with enterprise risk and compliance data aggregation and analysis for better insight into risk exposure, increased agility and improved decision making.
Based in Waltham, MA, OpenPages makes software that helps companies develop strategies for operational risk, financial controls management, compliance and internal audits, enabling enterprises to view data from different systems to get an idea of a business's total exposure to danger.
According to OpenPages, version 6.0 is part of a new generation of Enterprise GRC platforms in which companies can derive insight from GRC information, enabling organizations to align risk and performance management objectives to achieve better business outcomes.
It also includes significant enhancements to the Policy & Compliance Management (PCM) module, which helps enterprises react quickly to changes in regulatory mandates and manage regulator interactions effectively. The new version is due for release sometime this week.
EMC Outlines GRC Strategy
The second major GRC release this week is from EMC (news, site) Earlier this week, in case you missed it, EMC outlined how it viewed GRC in the coming years and how Archer, the GRC specialist it bought last year, would fit into that. The result is the RSA Archer eGRC Management Platform, which provides a basis of EMC’s newly formulated GRC strategy.
Speaking to CMSWire before the launch, Alex Bender, director of GRC programs and strategies, explained that while EMC is releasing the next generation of Archer eGRC Management Platform — which will be updated periodically over the coming year — the platform is also part of a wider strategy that will see developments across four areas, as well as new advisory services.
So what is the new strategy? The first thing it aims to do is make GRC in enterprises more agile. You remember agile — a way of not just managing information, but also of managing it to be able to respond to rapid changes taking place in the market. Interested in more?
Compliance 360 and 2011
Meanwhile, compliance vendor Compliance 360, which offers SaaS solutions for GRC, announced its industry predictions for 2011. Topping the list is the prediction that corporate boards will shift their focus from survivability to implementing and enhancing corporate risk management programs.
With the brunt of the economic storm currently abated, corporate boards are revisiting enterprise risk management initiatives and validating those improvements with quantifiable measures.
Other predictions include:
- Boards of directors returning to risk management
- Measuring the effectiveness of compliance programs
- Increasing focus on third-party risk management
- Convergence of compliance and audit as integrated processes
- Continued emergence of GRC in the cloud
If you want to find out more about the seven elements of effective compliance programs, check out t the white paper here.
OpenLogic Reports Record Sales
OpenLogic (news, site), which provides open source software support, scanning and governance solutions, has just announced record sales growth in 2010. The economic recovery is accelerating enterprise investment in high-quality, low-cost open source software, driving higher demands for OpenLogic products and services.
Sales to new customers climbed by 133 percent with the strongest growth in the technology sector, due to uptake of Open Logic’s new source code scanning solution. Existing customers expanded their use of OpenLogic products and services, resulting in 68 percent growth in sales of add-on products.
OpenLogic now has over 200 customers worldwide, the majority of which are large enterprises. In 2010. OpenLogic also saw 125 percent growth among smaller enterprises.
The growth driver this year underlines the attraction of effective source code scanning. According to CEO Steve Grandchamp, the successful launch of its Source Code Scanning and License Compliance solutions in early 2010 drove the sales growth.
Bloomberg Offers Real-Time Compliance
For the financial sector this week, Bloomberg, a leader in financial services messaging, recently announced a real-time search and analytics console for Bloomberg Vault, a compliance package that integrates real-time monitoring, search analytics, and archiving of Bloomberg messaging and corporate email.
Bloomberg Vault is a hosted solution with compliance retention services, active policy management, extensive search capabilities, analytics and information governance for corporate email and instant messages, as well as all messaging content on the Bloomberg Professional service. If you want to find out more about this, check it out here.