BWise Reports Record Quarter - Q1 2007
New York, NY, ‘s-Hertogenbosch, Netherlands, April 18th, 2007
BWise, a leading provider of governance, risk and compliance (GRC) software solutions, today announced a record quarter for Q-1 of 2007.
After an impressive year of growth and pivotal milestones in 2006, BWise is set to achieve even greater results in 2007 based on first quarter accomplishments. With customer wins in the United States and Europe, BWise has performed more than 40% over the already aggressive projections, quadrupling from last year. New customers in the financial industry, energy, semi-conductor and government sectors worldwide continue to validate BWise’s impressive solution offering focused on a risk-based approach to GRC. With a 98% retention rate of customers, and 50% of existing customer base adding new licenses in the last years, business is booming for BWise.
“BWise growth is continuing and is increasing well above the average market growth. Customers are seeing the value of our integrated GRC offering, uniquely combining process management with risk management and compliance on controls. Most of the market is focused on controls with small elements of risk, whereas our clients see the business benefit of a more mature GRC approach,” says Robert Pijselman, CEO of BWise.
Year over year, companies spend millions on documenting and testing controls. This results in thousands and thousands of Microsoft Word, Excel and Visio documents. This is not sustainable, nor does it guarantee proper compliance, or provide any business benefits. The BWise risk-based approach, based on a strong fundament of process management, provides customers with a demonstrable and rapid return on their compliance investments.
Joost Sprakel, Chief Commercial Officer of BWise adds: “Based on continual market feedback and growing awareness of the superior BWise solution, we are in the final selection round in more than 90 percent of sales cases, with an extremely high win rate. Never before in my sales career, have I seen this kind of rapid adoption. The GRC market is definitely maturing now.”
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BWise is a global leader in compliance and enterprise risk management software, with a strong heritage in business process management. Established in 1994, BWise delivers proven solutions to help organizations become “in control” by increasing corporate accountability; strengthening financial, strategic and operational efficiencies; and maximizing performance and ROI. With more than 1,200 customers in more then 80 countries worldwide and 175,000 users in virtually all markets, BWise has developed a strong and sustainable presence in the compliance and risk management sectors. Utilizing templates and a best-practice implementation approach, BWise enables management to measure and manage risks and to comply with rules and legislation such as Sarbanes-Oxley, European Corporate Governance Codes, IFRS, Basel II, ISO-standards and more. BWise has offices in the Netherlands, United States and India. For more information, visit www.bwise.com
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