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By Business Wire |
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April 4, 2014 08:02 AM EDT |
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Modulo,
a leading provider of technology governance, risk and compliance (GRC)
solutions, today announced record momentum in 2013 with 55%
year-over-year revenue growth, including a dramatic increase of 250% in
multi-year software and services revenues fueled by large high-profile
client wins. Further validating its position as the largest independent
provider of technology GRC solutions, Modulo also reported over 200%
growth in SaaS sales driven by adoption of its Risk Manager platform in
the North America market.
Modulo is seeing increased demand for a wide variety of GRC use cases,
in particular Third-Party Vendor Risk Management; Vulnerability and
Cybersecurity Risk Management; PCI, NERC and ISO compliance management;
Enterprise Risk Management (ERM); and Operational Risk Management. Many
Modulo customers demonstrate success with one use case and expand the
platform into other areas of the organization – getting risk
stakeholders on the same page with a common language and dashboard, and
creating repeatable business process automation and performance
optimization.
Modulo continues to win customers in critical infrastructure industry
sectors such as Energy, Finance, Healthcare and Manufacturing and is
increasingly gaining traction in other fast-growth sectors such as
Communications and Services, distinguished by new customers such as
these:
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F250 fast food company
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F500 global tire manufacturer
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F500 pharmaceutical and medical equipment company
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Global managed security services provider
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Global prepaid card and transaction provider
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National insurance and finance company
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National regulatory assessments and consulting group
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National broadcast television company
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National digital entertainment technology company
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National creative firm
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North American business services provider
In another major GRC win, Modulo was awarded the bid for the “Secured
Brazil” consortium. This collaborative project for Brazil’s
Extraordinary Secretariat of Security for Major Events (SESGE), led by
Modulo in partnership with Agora Telecom, COMTEX and Unisys, will
provide IT solutions, services and infrastructure to fourteen Command
and Control Integrated Centers (CICC) in the twelve Brazil 2014 World
Cup host cities.
Modulo Risk Manager has recently been recognized with the following
awards and analyst rankings: a “2014 GRC Technology Innovation Award”
and “2013 GRC Value Award” by GRC 20/20; a “2013 Innovator of the Year”
and “5-Star” in Risk & Policy Management by SC Magazine; and a “Strong
Performer” in The
Forrester Wave™: Governance, Risk and Compliance (GRC) Platforms, Q1 2014
by Forrester Research Inc. (January 27, 2014). Modulo has also received
industry recognition with a “Positive” rating in Gartner’s 2013
MarketScope for IT Governance, Risk and Compliance Management (IT GRCM)
(1) and has been positioned in the “Visionaries” Quadrant of Gartner’s
2013 Magic Quadrant for Business Continuity Management Planning Software
(2).
“With over 700 software clients worldwide, Modulo exceeded expectations
in 2013 and is poised for a sharp trajectory in 2014 to meet the
exponential demand for organizations looking to manage the risk of
increasing security threats, regulatory requirements and third-party and
cloud partners,” commented Stephen Gant, Managing Director of North
America for Modulo.
Modulo also achieved these milestones in 2013 and Q1 2014:
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Major New Version of Modulo
Risk Manager, V9.0: Including new fully-featured
dedicated modules for Enterprise Risk Management, Vendor Risk
Management, and Business Continuity Management.
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New ERM Module: Expands risk reporting to broader enterprise
issues to gain better visibility into and respond more quickly to
enterprise risks; including ability to create and monitor Key Risk
Indicators (KRIs)
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Beta Release of GRC
Intelligence Solution: A portal for integrating
real-time information from any data source – including IT security,
physical security and incident management tools, vendor surveys,
social and mobile analytics and more – in context of GRC management
programs with the power of Business Intelligence reporting
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Integration capabilities with 40+ products out-of-the-box
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Comprehensive Content Library: 400+ knowledge bases (27,000+
controls) and 180 frameworks
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Expanded Executive Customer Advisory Board: Driving GRC
maturity
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New Strategic Technology Consulting Partners: Ranging from Big
4 firms to regional and industry-specific consultants
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Staff additions in North America, EMEA and APAC, with 100 of Modulo’s
400-person staff dedicated to software R&D
Modulo Risk Manager is recognized as the best value on the market for
the new generation CSO/CIO. “We are committed to providing an integrated
platform that grows with the customer as they mature their GRC program
throughout the entire organization. We continue to invest heavily in the
research and development – having added significantly to our development
team – as well as in our international operations in the North America,
EMEA and APAC markets,” added Gant.
(1)
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Gartner "MarketScope for IT Governance, Risk and Compliance
Management", by Paul E. Proctor, June 7, 2013.
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(2)
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Gartner “Magic Quadrant for Business Continuity Management Planning
Software,” by Roberta J. Witty and John P. Morency, August 26, 2013.
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About the MarketScope and Magic Quadrant
Gartner does not endorse any vendor, product or service depicted in its
research publications, and does not advise technology users to select
only those vendors with the highest ratings. Gartner research
publications consist of the opinions of Gartner's research organization
and should not be construed as statements of fact. Gartner disclaims all
warranties, expressed or implied, with respect to this research,
including any warranties of merchantability or fitness for a particular
purpose.
About Modulo
Modulo is a leading global enterprise provider of technology governance,
risk and compliance (GRC) management solutions. Hundreds of
organizations around the world leverage the award-winning Modulo Risk
Manager™ as a flexible and affordable approach to manage risk,
compliance, and business continuity across the enterprise and extended
enterprise of third-party relationships. Customers span the financial,
healthcare, retail, manufacturing, higher-education, telecom, energy and
government sectors and include BASF, BC Hydro, Commercial Bank of Dubai,
Microsoft, New York University Medical Center, Synovus Financial, and
Schlumberger. Modulo has earned industry recognition as both a 2012 and
2013 Innovator of the Year from SC Magazine, which also gave the
company's products “5-Star” review ratings for three consecutive years.
Visit www.modulo.com
and follow Modulo on Twitter @Modulo_Intl.

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
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