Modulo Positioned in Inaugural Gartner 2014 Magic Quadrant for Operational Risk Management

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Modulo was selected as one of seventeen vendors that were evaluated in the inaugural report for this growing market.

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Many Modulo Risk Manager customers are extending their existing GRC programs with operational risk management capabilities to support their broader enterprise risk management imperatives

Modulo, a leading provider of technology governance, risk and compliance (GRC) solutions, today announced it has been recognized by Gartner, Inc. in the 2014 Magic Quadrant for Operational Risk Management (ORM) report (i). Modulo was selected as one of seventeen vendors that were evaluated in the inaugural report for this growing market.

"We believe our proven ability to execute is validated in our position in this research,” said Stephen Gant, Managing Director, International, for Modulo.

“Many Modulo Risk Manager customers are extending their existing GRC programs with operational risk management capabilities to support their broader enterprise risk management imperatives. We are honored to have been recognized in this research from Gartner. As an independent GRC vendor with decades of experience, we are committed to investing in and innovating our commercial ORM solution based on strategic input from our large and growing GRC customer base throughout the world - especially North America and Europe where new compliance and regulatory demands are being enforced with increasing rigor,” added Gant.

The report evaluated version 8.4 of the powerful Modulo Risk Manager GRC software platform. Modulo offers an ORM solution that is integrated seamlessly with the core platform, allowing organizations to incorporate technology, compliance, and business risks into assessments, monitoring programs, and reports. The solution facilitates better governance by allowing organizations to take a “risk-based” approach to management and strategic planning. In order to better manage risk, organizations need to prioritize leading and trailing risk indicators and identify stakeholders. Modulo’s ORM software integrates seamlessly with ongoing technology risk, compliance, policy, and incident management programs, ensuring visibility into other key GRC programs.

With Modulo, CISOs, CSOs and CIOs can:

  •     Initiate well-defined ORM programs to attain commitment from management
  •     Display dynamic reports of critical dependences between business processes to critical assets
  •     Capture data and harmonize findings on ORM heat maps and other dashboards

All the features available in the Modulo Risk Manager platform, including out-of-the-box reports and dashboards, automation rules, surveys, and mobile apps, integrate seamlessly with the ORM module.

Gartner reports that “as companies work to strengthen their risk management practices, operational risk management software is gaining traction as a key component of a governance, risk and compliance application portfolio and enterprise risk management program.”

Gartner research director John A. Wheeler and VP distinguished analyst Paul Procter write, “ORM software applications are becoming increasingly important because of organizations' growing need to meet compliance and regulatory requirements, and because of their desire to avoid severe punishment from regulators. This is especially true in North America and Europe, and is the primary reason for the increase in technology maturity.”

Gartner states, “The critical capabilities of ORM software applications center on providing business leaders with a more effective means of assessing risk and control effectiveness, identifying operational risk events, managing remediation efforts, and quantifying the associated operational risk exposure across the enterprise.”

Modulo was recently recognized in two other Gartner Magic Quadrant reports: Gartner’s inaugural Magic Quadrant for IT Vendor Risk Management (VRM) report published October 29, 2014 (ii) and Gartner's Magic Quadrant for Business Continuity Management Planning (BCMP) Software report published August 27, 2014 (iii).

To download the data sheet about the Modulo Risk Manager VRM solution visit: http://modulo.com/enterprise-risk-management/

About the 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 or other designation. 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 http://www.modulo.com and follow Modulo on Twitter @Modulo_Intl.

(i) Gartner “Magic Quadrant for Operational Risk Management” by John A. Wheeler, Paul E. Proctor. December 15, 2014.
(ii) Gartner "Magic Quadrant for IT Vendor Risk Management" by Christopher Ambrose, Gayla Sullivan, Kris Doering. October 29, 2014.
(iii) Gartner "Magic Quadrant for Business Continuity Management Planning" by Roberta Witty. August 27, 2014.

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Leslie Kesselring
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