Press Release - 2008
AGILIANCE ANNOUNCES OVER 400% INCREASE IN YEAR-OVER-YEAR SALES, UNDERSCORING ITS MARKET LEADERSHIP AND COMPANY ACHIEVEMENTS IN 2008
Integrated GRC Provider Reports Record Revenue, Launches New Technology Platform, Adds Global Companies to Customer Roster and Receives Industry-Wide Accolades
SAN JOSE, Calif. – December 29, 2008 – Agiliance Inc., the leader in integrated Governance, Risk and Compliance (GRC), today announced revenue for 2008 fiscal year increased by more than 400% compared to the same period in 2007. This revenue growth is attributed to increased worldwide demand for the company's IT risk and compliance software products which are helping global companies including BWIN and RSA Insurance Group cut compliance costs by up to 70%.
The company was also recognized industry-wide, garnering several accolades, including:
- Named as an SC Magazine Innovator for 2008
- Designated as a Top Software Provider in GRC, CSR & Sustainability by CRO Magazine
- Selected as an SC Awards Finalist in the 'Best Regulatory Compliance Solution' Category
- Finalist in the Network Products Guide '2009 Hot Companies' Award
"The tremendous growth we have experienced during this period of global economic instability underscores the value proposition that we provide to our customer base," said Patrick J. Conte, CEO, Agiliance "Our major customers, particularly in the insurance, retail, healthcare and energy sectors, face unprecedented challenges in managing their IT budgets as they are being pressured to reduce expenses without jeopardizing compliance. Our success is proof that by automating controls and compliance processes, enterprises can literally save millions of dollars in hard costs."
The rising tide of security threats and compliance demands, coupled with a struggling economy, is driving the adoption of automated and innovative intelligence-based solutions for today's risk and compliance challenges. Industry analysts predict the market for these products will see strong growth in the coming years despite reductions in other areas of IT. A recent survey by Forrester Research shows that the amount of IT budget devoted to security and compliance initiatives has risen to 10% in 2008, an increase of 2% over last year's budget.
Agiliance offers highly-automated IT compliance and risk management software products designed to help organizations thrive in the face of mounting pressures to manage and balance risk, compliance and IT budgets. By leveraging the power of Agiliance software, businesses can make impressive gains in their risk and compliance efforts including reduced audit burden, increased visibility into current compliance and risk status, and improved leverage of IT resources.
"Rather than sustain spending on security and compliance for its own sake, our goal is to reduce future IT compliance related expenditure through smarter resource allocation and more informed decision making when assessing IT risks," said Shane Fuller, Information Security & Compliance Manager of RSA Insurance (Ireland). The RSA Insurance Group (formerly known as Royal & SunAlliance Insurance) is one of the world's leading multinational quoted insurance companies.
Fuller added, "Not only did the Agiliance solution alleviate some immediate pain through automation of the seemingly never-ending list of compliance assessments, I believe it will ultimately help us implement a proactive and cost effective risk management strategy."
About Agiliance
Agiliance offers the most comprehensive and scalable solution for managing the interdependent disciplines of IT governance, risk, and compliance. Its flagship product, Agiliance IT GRC, enables businesses to develop a holistic view of their IT risk and compliance posture in order to make better business decisions. The Agiliance IT GRC platform is the first solution that combines a robust common control framework with sophisticated policy management, workflow, and automation, providing internal and external stakeholders with a highly effective, transparent methodology for reducing IT-related risk while increasing operational efficiencies and decreasing time-to-compliance. Founded in 2005, Agiliance is headquartered in San Jose, California and is backed by Walden International, Intel Capital, SVIC, Red Rock Ventures and Castile Ventures. For more information, please visit Agiliance at www.agiliance.com
Media Contacts
Lorraine Kauffman-Hall
Agiliance
+1 704-882-0443
lhall@agiliance.com
