Neohapsis Launches Comprehensive GRC Platform

NeoGRC supports enterprise-wide governance, risk, and compliance initiatives

CAMBRIDGE, Mass. – May 18, 2010—Neohapsis, a leading provider of governance, risk, and compliance (GRC) products and services, today announced the availability of NeoGRC™, a trusted platform that provides a unified view of risk and compliance across the entire organization. Unveiled at NeoConnect – the company’s user conference in Las Vegas, NV – NeoGRC is poised to help enterprises transition siloed compliance and risk management initiatives into an effective and proactive GRC program.

Many organizations maintain a complex mix of spreadsheets and risk and compliance management point products, making it difficult to properly identify organizational risk and effectively address evolving industry and regulatory mandates. Due to the constantly shifting GRC landscape, organizations need a single platform to consolidate, automate, manage, and monitor all compliance- and risk-related activities.

NeoGRC provides enterprises with a proven framework to move from standalone risk and compliance practices to a comprehensive GRC program. Through a hosted, user-friendly solution, organizations can aggregate existing risk and compliance data and rely on a single system of record to automate testing, workflow certification, issue management, and reporting. NeoGRC links organizational objectives, areas of risk, and controls, enabling organizations to ensure that all compliance and risk initiatives – current and future – are tightly integrated and aligned with business goals.

“Governance, risk, and compliance efforts have become increasingly difficult to manage. Diverse regulatory mandates, complex organizational structures and processes, and varying business risk profiles all need to be rationalized to enable a cost-effective GRC strategy,” said James Mobley, President and CEO of Neohapsis. “NeoGRC was purpose-built to address this increasing complexity and enable organizations to not only comply, but also to elevate risk intelligence within the organization through an easy to use, yet powerful user experience.”

Through its data-driven approach to GRC, NeoGRC simplifies the management of compliance, the mapping of control frameworks, the oversight of governance processes, and the visualization of risk and its impact on operations. NeoGRC’s dashboards provide status, summary, and trend data at a glance, and its in-depth and customizable reporting functionality delivers true business intelligence. To help enterprises benefit from a comprehensive risk management framework, NeoGRC’s built-in surveys and assessments collect and aggregate risk data, providing qualitative or quantitative risk ratings.

Existing Neohapsis Certus Compliance customers can migrate to NeoGRC, enabling them to integrate existing Sarbanes-Oxley (SOX) data into the new platform, and to move beyond SOX to manage multiple compliance, IT, and operational risk initiatives. NeoGRC was built with the flexibility and data extensibility to support an enterprise’s unique multi-initiative requirements over time and make enterprise GRC a reality.

“We are a long-standing Certus Compliance customer and Neohapsis has helped us streamline and automate our SOX compliance processes, resulting in extensive time savings and improved efficiencies,” said Dianne Harwell, Global SOX Process Manager with UTi. “Based on the NeoGRC capabilities we saw at NeoConnect, we can see where organizations would benefit beyond SOX compliance as NeoGRC addresses the full realm of governance, risk management, and compliance needs.”

For more information about NeoGRC or to schedule a product demo, contact sales@neohapsis.com or call +1 773.269.6300.

About Neohapsis
Neohapsis provides governance, risk, and compliance (GRC) products and services to address the risk management, regulatory, and information protection needs of global enterprises and government agencies. Through its advanced GRC products and proven consulting services, Neohapsis delivers trusted infrastructures and fully integrated GRC products. Neohapsis solutions provide unprecedented visibility into the complex interrelationships between business objectives, people, information, risks, controls, and the state of compliance. Neohapsis leverages the power of the security and GRC relationship to enable sustainable governance frameworks that improve operational integrity and business performance. Additional information about Neohapsis can be found on the Web at www.neohapsis.com.

Neohapsis Press Contact:           
Kristine Briggs
Neohapsis
(773) 269-6309
kbriggs@neohapsis.com