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OpenPages Receives Patent for Market-Leading Enterprise GRC Software
Monday, June 09, 2008
Patent Supports the Company's Underlying Development Platform, Enabling Rapid Innovation
Waltham, MA -- OpenPages®, the leading provider of Enterprise GRC Management Solutions that optimize business performance, today announced it has received a patent for its highly configurable GRC platform. United States Patent and Trademark Office (USPTO) awarded the company U.S. patent No 7,356,771 on April 8, 2008, and the patent describes the company's innovation around developing applications based on a metadata-driven framework. The patent demonstrates the uniqueness of the company's GRC platform and its commitment to product innovation. The patent further illustrates the company's leadership in the market for governance, risk and compliance (GRC) solutions.
Through configuration, OpenPages' GRC platform provides the ability to develop business applications without coding, which enables OpenPages to respond quickly to new market opportunities and customer demand for new solutions. This metadata-driven approach has allowed OpenPages to release new solutions in rapid succession over the last 18 months. The company currently has one of the broadest offerings in the GRC market.
The key components of the patented platform include:
- Content Repository: Manages all GRC data and documents through a robust document management service
- Web Interface: Entirely configurable presentation layer providing access to GRC data and documents
- Workflow: Orchestration of tasks to complete GRC processes
- Reporting: Dynamically published reports and business intelligence views
- Security: Support for defining roles along multiple dimensions that govern access to GRC data and documents
Combined into solutions addressing specific business challenges such as Sarbanes-Oxley, Basel II, Policy Management, and ERM Initiatives associated with Standard & Poor's ERM rating criteria, these key components provide an unique user experience and unparalleled ease of use.
"This technology provides OpenPages a unique competitive advantage to innovate more rapidly in delivering solutions to address emerging segments of the GRC market. In turn, this capability empowers our customers to expand the scope of their GRC solutions for competitive advantage in their industries," said Michael J. Duffy President & CEO of OpenPages. "As companies choose a partner for their GRC initiatives they will increasingly look for a company that can keep pace with their evolving requirements. OpenPages with our patented technology delivers on this promise."
OpenPages is the leading provider of enterprise GRC management solutions that optimize business performance. OpenPages empowers the world's largest companies by unifying governance, risk and compliance (GRC) activities across the enterprise and by incorporating risk management into their everyday business processes. Market-leading corporations select OpenPages because of its domain expertise and software solutions that seamlessly adapt to their unique risk management methodologies while providing the flexibility to evolve their governance, risk and compliance processes over time. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Japan and the United Kingdom, and regional offices throughout North America.
For more information on OpenPages' suite of risk and compliance solutions, please call 781-693-5999 or visit www.openpages.com.
OpenPages is a trademark of OpenPages, Inc. All other trademarks contained herein are the property of their respective owners.
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