Market for EGRC is growing; MEGA offers comprehensive solution

BOSTON, Mass., July 28, 2011 – MEGA, a pioneer in governance, risk and compliance (GRC) solutions, is positioned in the Visionaries quadrant of Gartner, Inc.’s Magic Quadrant for Enterprise Governance, Risk and Compliance (EGRC) Platforms, published July 13, 2011.

Eighteen companies are analyzed in the report. Gartner analysts French Caldwell, Tom Scholtz, and John Hagerty assessed software vendors who offer the four key capabilities of EGRC (audit management, compliance management, risk management, and policy management) and had a minimum of $11 million in annual revenues from EGRC platform software in 2010, at least 50 customers, and customer references for GRC programs.

“Several vendors in the Visionaries quadrant are driving innovation in the market through integration with business process modeling, continuous controls monitoring (CCM), risk analytics, targeted vertical industry solutions, and other advanced capabilities beyond the core functions required to be in the Magic Quadrant,” the report noted.  MEGA is working with Approva Corporation, the leader in CCM and audit automation software, to provide an optimized GRC approach.

In addition, more companies want to link a fully-integrated GRC solution with business process optimization.

“Many vendors are looking toward the next market phase, which includes adding or integrating with business performance management and scorecarding capabilities,” according to the report.

MEGA’s EGRC offering in the MEGA Suite is based on 20 years of expertise in business process analysis (BPA) and enterprise architecture (EA).  MEGA has aligned its risk management and GRC capabilities with its highly respected BPA solution, precisely meeting current market demand.  The MEGA Suite is a comprehensive solution for GRC, including operational and enterprise risk management, internal audit, and compliance. MEGA is an active participant in the GRC market; the company recently became a member of OCEG’s Technology Council.

“Companies are now consolidating what used to be independent solutions for compliance and audit with larger risk management programs, to create true business performance optimization,” explained Lucio de Risi, MEGA CEO. “With a transparent view of organizational processes across the entire enterprise, it significantly helps companies meet new market opportunities, reduce costs, and become much more efficient.”

MEGA was recognized in this Magic Quadrant for its ability to execute and completeness of vision. The company was also cited by Chartis Research as a leading vendor in its 2010 report on operational risk and GRC solutions, and has been named in Forrester Wave reports on EGRC.

About Gartner Magic Quadrant
The Magic Quadrant is copyrighted July 13, 2011 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.