IBM will acquire OpenPages, a provider of enterprise risk and compliance software through a single management system. The acquisition expands IBM’s business analytics capabilities to support compliance and risk management processes.
OpenPages software allows businesses to develop a comprehensive compliance and risk management strategy across a variety of domains including operational risk, financial controls management, IT risk, compliance and internal audits. The result is an aggregated, enterprise-wide picture of all exposures, helping chief financial officers (CFOs) and chief information officers (CIOs) understand how these risks can impact the organisation’s future performance.
“Unforeseen risk can hurt a company’s bottom line as well as its brand reputation,” said Rob Ashe, general manager, business analytics, IBM. “Integrating risk management systems across once-divided units and functions is essential to seeing the bigger picture. The combination of IBM and OpenPages will provide a holistic and consistent approach to risk management helping companies combine that insight with performance management to drive better decision making.”
IBM intends to integrate OpenPages within IBM’s Business Analytics software portfolio.
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