MEGA Selected for Chartis Research’s 2011 RiskTech 100 [Professional Services Close – Up]

MEGA, a provider of governance, risk, and compliance (GRC) solutions, said that it has been named to Chartis Research's 2011 RiskTech 100, a report listing the top companies worldwide that provide risk technology solutions.

In a release, the Company said that this is the 5th year that it was listed in the rankings. In addition, MEGA noted that it was named as a leading enterprise solution provider in a second Chartis report, Operational Risk and GRC Software Solutions.

Chartis provides independent research and analysis about the global market for risk management technology. The two reports discuss the most important challenges and trends on several risk topics, including regulatory developments, operational and enterprise risk management, governance, risk, and compliance (GRC) innovation, market sizing, and vendors.

MEGA said that its Suite is a solution that serves stakeholders across the entire enterprise, meeting the needs of business groups, IT divisions, enterprise architects, risk and compliance managers, executives, and more. The company extended its enterprise architecture and business process analysis solutions a number of years ago to help companies also meet risk challenges and GRC requirements.

The RiskTech100 provides rankings of the top 100 technology providers and commentary from risk experts.

"The risk technology market has grown in both importance and value as the profile of risk management continues to rise across all industries, sectors and regions," noted the RiskTech100 report.

"Risk technology vendors are responding to new market demands for robust, more cost effective integrated solutions, through continuous product innovation and integration," the report continued.

The Operational Risk and GRC Software Solutions report focused on operational risk, GRC, and enterprise risk management trends and issues.

"Operational Risk (OpRisk) and GRC have emerged as top priorities for financial institutions in recent years. This is partly due to an increasing emphasis by supervisory authorities who are pressing for increasingly stringent regulations and more punitive measures for non-compliance. It is also due to the clear evidence of the harm that non-compliance can do to a company's reputation," the report said.

The report also discussed the importance of linking GRC with enterprise architecture solutions.

"The ability to deliver continuous monitoring or to integrate an Enterprise Architecture solution enabling improved GRC will set certain vendors apart from their competitors," noted the report.

"MEGA has often been called a pioneer because we have combined 20 years of enterprise architecture and business process analysis expertise with comprehensive, business-driven solutions that meet evolving GRC challenges," explained Lucio de Risi, CEO, MEGA. "We provide a global approach to business performance by optimizing, transforming and governing the entire organization. Our vision of GRC is based on a holistic vision of the organization, encompassing strategy, business processes, IT assets, risks, controls and compliance. Our software helps executives create sustained value by providing important insight into the company's risk profile and helping them make better decisions about risks and controls."

MEGA said that it has also been named in the Gartner, Inc., Magic Quadrant for Enterprise Governance, Risk and Compliance (EGRC) Platforms, published July 13, and in The Forrester Wave: Enterprise Governance, Risk, And Compliance Platforms, Q4 2011, published November 30.

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