BWise Announces First Quarter SuccessGRC Market Leadership Underscored by Continued Growth and Increased Global Adoption of Solution
New York, NY, Rosmalen, Netherlands, May 6, 2008 – BWise, a leading provider of governance, risk and compliance (GRC) software solutions, today announced a record first quarter for 2008, building on a highly successful 2007. The company’s position as a global leader in the GRC market is solidified by numerous accomplishments including:
Continued strong financial position:
- Grew across Europe by 267 percent compared with the first quarter of 2007
- Grew in the U.S. market by 87 percent compared with the first quarter of 2007
- Added multi-national customers from numerous industries including transportation, steel, gold mining, finance and manufacturing
- Expanded the U.S. team by 46 percent
- Increased research and development investments by 15 percent
- 61 percent of BWise revenue was outside of the founding country, as a result of extensive growth in Europe and the U.S.
- 73 percent of revenue came from license and maintenance solutions, solidifying strong customer loyalty
- Maintained a strong balance sheet and had a significant positive cash flow
- Continued market momentum, building on the ranking by Forrester Research as “the frontrunner in overall GRC capabilities” in the Forrester Wave™:
- Enterprise Governance, Risk and Compliance Platforms, Q4 2007
- Privately funded under full management control
BWise sees an increased adoption of operational risk management and internal solutions and is excited about AMR Research’s findings that the spending on governance, risk management, and compliance will exceed $32B in 2008. BWise continues to develop and deliver market leading GRC solutions shaped by a collaborative process with customers and partners. Leading global businesses from a diverse range of industries including financial, energy, semi-conductor and government continue to rely on BWise for GRC solutions backed by solid best practices that solve real world problems and deliver measurable, bottom-line results.
“As a recognized leader in the GRC market, BWise is committed to continually raising the bar of excellence,” stated Robert Pijselman, CEO of BWise. “This first quarter underscores our passion for delivering solutions that, from inception, have been focused on business process improvements that drive bottom line results. We are excited about what is to come as this year unfolds and congratulate our customers on their growing success.”