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Provider of enterprise GRC solutions reports 56 percent revenue growth in the second quarter versus the same period last year
August 5, 2009
5 Min Read
OVERLAND PARK, Kan., Aug. 4, 2009 " Archer Technologies, a leading provider of enterprise governance, risk and compliance (GRC) solutions, today announced another record quarter, marked by continued blue-chip client acquisition, strong revenue growth, GRC technology innovation and widespread industry recognition. In the first half of 2009, the company added nearly 30 clients, including 14 Fortune 1000 accounts. In addition, Archer expanded its solution offerings based on customer demand to address financial risk management and internal audit initiatives. Third-party validation confirmed Archer's ongoing GRC leadership, in both the established IT-GRC segment and the emerging Enterprise GRC market.
"Archer is a disruptive force in the GRC market today," said Michael Rasmussen, a leading GRC authority and president of Corporate Integrity, LLC. "They offer one of the most versatile and easily customizable platforms on the market that can be swiftly tailored to meet any GRC process and content issue."
Increased Revenue and Market Presence Results include:
56 percent revenue growth in the second quarter versus the same period last year
100 percent client renewal rate in the second quarter (98 percent aggregate renewal rate since company inception)
Expanded client base within the technology, financial services, retail, healthcare, transportation and media industries to include 14 new Fortune 1000 clients—among them the worldwide leader in software, services and solutions—and an additional 15 global accounts
27 percent of the Fortune 100 among the company's distinguished clients
"We continue to see strong quarter-over-quarter growth and increasing adoption of our GRC solutions on a global scale. In fact, today the vast majority of our customers manage their GRC programs through multiple Archer solutions," said Archer CEO Jon Darbyshire. "As we expand our reach, Archer's focus will remain on our customers—providing them with best-in-class technology solutions and unparalleled service to help them meet their enterprise-wide risk management and compliance objectives. Archer's 100 percent renewal rate in the second quarter tangibly illustrates our commitment to customer success."
GRC Technology Innovation In April, Archer launched its new mobile E-GRC solution. Using their Smartphones, clients can now rapidly access critical information from Archer's Policy, Risk, Compliance, Audit, Incident, Vendor, Threat, Business Continuity and Enterprise Management solutions. Archer Mobile keeps business professionals connected to their GRC data from remote facilities, satellite offices, warehouses, vendor locations, home offices and anywhere else business takes them.
Third-Party Recognition Archer received the "Strong Positive" rating in Gartner's 2009 MarketScope on IT Governance, Risk and Compliance Management (IT-GRCM). Additionally, Forrester Research, Inc. positioned Archer as a "Strong Performer" in its July 2009 report The Forrester Wave: Enterprise Governance, Risk and Compliance Platforms, Q3 2009. Archer was the only vendor to be included in both the IT-GRC and E-GRC research, an indication of the breadth and depth of Archer's solution suite.
In addition to recognition from the analyst community, Archer was the only GRC solution provider to be honored in the SC Magazine US Excellence Awards for the sixth consecutive year. Archer earned the Best Regulatory Compliance Solution Award, which it also took home in 2008.
Expanding Partner Program World-class institutions continue to endorse Archer by joining the company's partner program, which expanded in the first half of 2009 to include Accenture, Accuvant, HITRUST, McAfee, Nova Datacom, UCF and Wipro. Julian Waits, the former CEO of GRC solution provider Brabeion Software Corporation, has rapidly developed Archer's strategic partnerships in his new role as vice president of business development. Waits is also expanding Archer's GRC application and services portal—the Archer Exchange.
"I merged my company with Archer because they are the best in the business among GRC technology innovators," said Waits. "The deep content, flexibility and superior architecture of Archer's GRC platform allow us to engage partners on a global scale to deliver best-of-breed solutions that address the complex risk and compliance issues our mutual customers face. Combined with our direct sales approach, Archer's partner strategy will allow us to continue our rapid growth in the GRC market."
About the MarketScope The MarketScope is copyrighted 2009 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation 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 MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Archer Technologies Archer Technologies delivers enterprise governance, risk and compliance (GRC) solutions. With more than six million licensed users and a client list that includes more than 25 percent of the Fortune 100, Archer enables highly regulated companies to manage enterprise risks, demonstrate compliance, automate business processes, and gain visibility into corporate risk and security controls.
Archer's out-of-the-box solutions, including Policy, Risk, Compliance, Incident, Vendor, Threat, Business Continuity, Audit and Enterprise Management, are built on the flexible Archer SmartSuite Framework, allowing clients to tailor the solutions according to their unique requirements. Whether deployed on-premise or via Archer's SaaS model, the Framework has become a go-to GRC platform for many global organizations.
Archer is the only vendor that delivers the Archer E-GRC Ecosystem comprised of out-of-the-box solutions, a flexible Framework, a robust user community, and an application and partner exchange, which provides clients the tools they need to build a best-in-class enterprise GRC program. For more information, visit www.archer.com or call 1-888-539-EGRC.
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Danielle Millerick BluePoint Venture Marketing P: 781.861.7800 | F: 781.861.7810 [email protected] | www.bluepointmktg.com Blog: http://bluepoint.wordpress.com | Subscribe
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