Modulo Reports Dramatic Momentum in 2014 with 200% Sales Growth and Adoption of Customers in IT and Physical Security Departments Across Broad Range of Industries

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Modulo continues to drive industry thought leadership on GRC maturity and innovate GRC automation to help drive next-generation CSOs, CISOs, and CIOs tackling information and corporate security.

Modulo

Modulo is the largest independent provider of technology GRC solutions and is recognized as the best value in the market.

Modulo, a leading provider of technology governance, risk and compliance (GRC) solutions, today announced record momentum in 2014 with 200% year-over-year growth in sales bookings in North America spanning a variety of private industry verticals, further validating its position as the largest independent provider of technology GRC solutions.

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; and Operational Risk Management and Business Continuity pertaining to information security. 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 Financial Services, Healthcare and Transportation and is gaining traction in sectors with mounting IT risk and compliance concerns such as Digital Service Providers, Higher Education, and Business Services. Industries where Modulo saw major adoption:

  •     Insurance
  •     Commercial banking
  •     University Hospital Systems
  •     Consumer Goods Manufacturing
  •     Digital Entertainment
  •     Universities
  •     High-tech Manufacturing
  •     Airlines

Over the past year Modulo Risk Manager was recognized with the following awards and analyst rankings: “2014 GRC Technology Innovation Award” by GRC 20/20; “2014 Innovator of the Year” as well as “Best Buy” and “5-Star” in Risk & Policy Management by SC Magazine; and “Strong Performer” in The Forrester Wave™: Governance, Risk and Compliance (GRC) Platforms, Q1 2014 by Forrester Research Inc. (January 27, 2014).

Modulo was also recognized in four Gartner Magic Quadrant reports: Gartner’s Magic Quadrant for Operational Risk Management (ORM) published December 15, 2014 ; Gartner’s inaugural Magic Quadrant for IT Vendor Risk Management (VRM) report published October 29, 2014 ; Gartner's Magic Quadrant for Business Continuity Management Planning (BCMP) Software report published August 27, 2014 ; and Gartner’s Market Guide for Audit Management Solutions published December 24, 2014.

“This year marks Modulo’s 30th anniversary as an independent security risk management solution provider. With over 1,000 clients worldwide and 80 partners spanning 25 countries, Modulo is the largest independent provider of technology GRC solutions and is recognized as the best value in the market measured by price, time to deployment and total cost of ownership,” commented Stephen Gant, Managing Director, International for Modulo. “We are committed to continuing to drive industry thought leadership on GRC maturity and innovating our GRC automation platform to help drive next-generation CSOs, CISOs, and CIOs tackling information and corporate security.”

Modulo also achieved these milestones in 2014:

  •     Major New Version of Modulo Risk Manager, V9.1
  •     New Software Modules

        o    GRC Intelligence business analytics module
        o    Policy Management module

  •     Enhanced Software Functionality

        o    Ability to create new applications easily without coding
        o    Improved workflow capability

  •     Doubled Software Content Library, making it one of the most comprehensive available to the GRC market

        o    800+ knowledge bases; 53,000 controls and 268 compliance frameworks

  •     New Solutions

        o    Expanded Vendor Risk Management which includes Supply Chain Security and Compliance
        o    Physical Security Risk Management
        o    Quality Risk Management

  •     New Strategic Technology Consulting Partners with a focus on

        o    Business and GRC Consulting
        o    IT and Cybersecurity Audit and Pen Testing
        o    Regional
        o    Vertical Industry
        o    Resellers

  •     Doubled staff in North America and grew worldwide staff 25%

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, Yale New Have Health Systems, Synovus Financial, and Santander. Modulo has earned industry recognition as an Innovator of the Year from SC Magazine for three years in a row (2014, 2013, 2012) as well as “5-Star” review ratings four consecutive years (2014, 2013, 2012, 2011) and “Best Buy” (2014, 2012, 2011) by SC Magazine.

Visit http://www.modulo.com and follow Modulo on Twitter @Modulo_Intl.

iGartner “Magic Quadrant for Operational Risk Management” by John Wheeler. December 15, 2014.
iiGartner "Magic Quadrant for IT Vendor Risk Management" by Christopher Ambrose, Gayla Sullivan, Kris Doering. October 29, 2014.
iiiGartner "Magic Quadrant for Business Continuity Management Planning" by Roberta Witty. August 27, 2014.
ivGartner “Market Guide for Audit Management Solutions” by Khushbu Pratap. December 24, 2014.

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Leslie Kesselring
Modulo
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