SAS a leader in operational risk management and governance, risk and compliance (GRC) report
Newest SAS solution for GRC paired with SAS® OpRisk Management impresses Chartis Research
CARY, NC (Aug. 09, 2010) – SAS, the leader in business analytics software and services, remains a leader in Chartis Research's Operational Risk & GRC Software Solutions 2010 report. Since 2005, Chartis has recognized SAS® OpRisk Management for "completeness of offering" and "market-share potential." Chartis, which has added the converging GRC market, also rated the recently announced SAS Enterprise GRC.
Chartis expects the worldwide financial services OpRisk and GRC technology market will grow to $2 billion by 2013, at a compound annual growth rate of 6.5 percent. The report considers both demand and supply, covering market and regulatory requirements as well as the competitive landscape.
"The new GRC solution demonstrates SAS is listening to both the market and the customer on converging risk needs," said Peyman Mestchian, Managing Partner at Chartis. "SAS continues to impress our team of analysts and advisors with its innovation and execution."
According to Chartis, successful OpRisk software vendors, such as SAS, have invested in research and development (R&D) to improve flexibility and user configurability. In 2009, SAS reinvested 23 percent of its $2.31 billion revenue in R&D. Chartis also believes vendors must offer an integrated proposition comprising flexible technology, on-going innovation, scalable sales and marketing strategy, domain expertise and a "one-stop shop" for operational, credit and market risk solutions.
“As the GRC market matures, customers are expecting more integrated, complete and scalable software offerings,” said Manoj Kulwal, SAS Enterprise GRC Product Manager. “Our position in the Chartis report validates that SAS delivers on these evolving expectations.”
Numerous global institutions, including Union Bank, use SAS for operational and credit risk management. "We saw SAS software rated highly by analyst research firms and customers for operational risk, so it was clear that they were more capable than others and would fit better within our organization," said Greg Jones, Vice President of Operational Risk at Union Bank. "SAS offered a comprehensive solution that specifically addressed operational risk with customizable modeling capabilities."
SAS OpRisk Management is built on the SAS Business Analytics Framework, a powerful blend of data integration, analytics and reporting capabilities. It helps institutions optimize capital allocation while mitigating risks in all areas of their organizations.
SAS Enterprise GRC offers an integrated platform for comprehensive and continuous monitoring of risk and compliance exposures. Organizations can track risks based on trends in various operational systems. They can quickly identify and manage significant emerging exposures, and continuously update policies with regulatory changes to produce an audited, consolidated risk profile, especially for nonfinancial risks.
In September 2009, SAS was named the leader in Celent’s Enterprise Operational Risk Management, Compliance, and Governance Solutions report. Gartner Inc. placed SAS in the Leaders quadrant of the Magic Quadrant for Operational Risk Management Software for Financial Services . SAS ranked first in Chartis' RiskTech100 rankings, listing the top risk technology vendors worldwide, in November 2009.
More than 200 organizations use SAS for operational risk management, including: ABN AMRO (Netherlands), Caisse Nationale des Caisses d’Epargne (France), First City Monument Bank (Nigeria), FirstBank of Nigeria (Nigeria), ING (Netherlands), Kookmin Bank (Korea), Riyad Bank (Saudi Arabia), Skye Bank (Nigeria), Union Bank (US), Vattenfall (Sweden) and Woori Bank (Korea).
About Chartis Research
Chartis is the leading provider of research and analysis on the global market for risk technology. Our goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. We help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology - (www.chartis-research.com).
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 45,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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