Printable version

Atlanta, GA. – July 28, 2009 – Compliance 360, a leading provider of Software-as-a-Service (SaaS) solutions for enterprise governance, risk management and compliance (eGRC) today announced record results for the six months ending June 30, 2009. 

Results for the first six months of 2009 include:

• 44 percent increase in new customer software sales compared to the same period in 2008.  New customers represented a wide range of regulated industries, with a concentration in financial services, healthcare and insurance.   Of note, among the new customers is one of the largest lending institutions in the US.
• 32 percent increase in software revenue compared to the same period in 2008.
• 36 percent increase in deferred revenue compared to the same period in 2008.
• 62 percent increase in active users compared to the same period in 2008.  Active users now total more than 150,000 as a result of expanding usage by current customers and rapidly completed implementations with new customers.

“In spite of the current recession, we are very pleased with our first-half results as well as our outlook for the second half,” said Steve McGraw, president and CEO of Compliance 360.  “We attribute our accelerating momentum and growth to several key factors.  First, with a product suite that is 100 percent SaaS-based, we are right in the middle of the next megatrend in IT known as ‘cloud computing’.  Secondly, because of the rapidly growing requirements for governance and transparency, GRC is one of the fastest growing application areas with demand increasing for sophisticated risk management tools.  Third, we are fortunate to be capitalizing on well-engineered, industry-specific solutions with a track record of successful customer implementations.   Looking ahead, we will continue to leverage our broad GRC platform and expand our offerings to help more companies in more industries solve their growing risk management challenges.  We will also expand our sales and service capacity to support our accelerating growth.”

About Compliance 360
Compliance 360 is a leading provider of enterprise governance, risk management, audit and compliance solutions for companies that operate in highly regulated industries.  The Compliance 360 Software-as-a-Service (SaaS) solution suite helps companies address policies and procedures management, regulatory compliance management , internal and external audits, accreditation, incident management, fraud, waste & abuse , contract management, enterprise risk management , 3rd-party risk management and IT governance.  Customers benefit by reducing risks, improving efficiencies and protecting their brands.  Compliance 360 is headquartered in Atlanta, GA and assists over 150,000 active users in highly regulated, complex business environments including healthcare, insurance, financial services and others. For more information, visit www.compliance360.com .