ATLANTA -- (BUSINESS WIRE) -- Modulo, a leading provider of Technology Governance, Risk and Compliance (GRC) solutions, today announced the company has been positioned by Gartner, Inc. in the “Visionaries” quadrant of the Business Continuity Management Planning Software Magic Quadrant. Gartner positioned Modulo based on its “completeness of vision” and “ability to execute” for Modulo Risk Manager as part of an evaluation of 18 qualified enterprise-class vendors.
Following on this report, Modulo is also announcing a new fully integrated Business Continuity Management (BCM) module for the Modulo Risk Manager platform and kicking- off an educational webinar series:
Gartner estimates the Business Continuity Management Planning (BCMP) market to have “a 2012 revenue estimate of $130 million, 30% more than our 2010 estimate,” according to report author Roberta Witty and John Morency. The report also highlights that “the significant growth in adoption of BCMP products, as measured in our annual security and risk management survey — 23.8% from 2010 to 2011; 8.5% from 2011 to 2012 and 51% from 2012 to 2013 — is an indication that organizations are realizing the importance of the use of these products to help standardize and manage recovery plan development, as well as management of the BCM program itself.” (1)
Further, Gartner predicts that “having current, effective and exercised recovery plans is the key to success during a disaster, and these products are essential for effective BCM response, recovery and restoration activities. We anticipate adoption to continue to grow during the next five years, given the increased focus from government agencies — federal, state and local — as well as private-sector preparedness initiatives. Some of this additional growth will come through the GRC product market: more GRC vendors are providing BCMP capability as part of a broader operational risk management program.”
"We believe our positioning in the ‘Visionaries’ quadrant by Gartner confirms our mission to help our customers move up the GRC maturity curve by integrating BCMP into their proven GRC programs for better risk analytics and decision making across the enterprise. This is another milestone marking the momentum that Modulo is experiencing in North America as well as worldwide,” said Stephen Gant, Managing Director of North America for Modulo.
With the release of its new BCM module, Modulo delivers a complete BCMP function that is fully integrated into the operational and enterprise risk management process. Modulo Risk Manager is recognized industry-wide as a mature tool for IT GRC and Enterprise GRC. Modulo is also uniquely positioned for critical infrastructure implementations, such as SCADA, cyber defense, and municipalities where an integrated IT, physical, and operational technology (OT) risk management approach is required.
Customers choose Modulo Risk Manager for its affordable cost versus the competition and extensive certifications in international GRC standards such as ISO 20000 and ISO 27000. Modulo Risk Manager has also gained positive reviews for its flexible user interface, strong reporting capability and extensive content knowledgebase - including compliance tracking support with alignment to key BCM standards and frameworks. Other unique features include the use of Google Maps to view the impact of natural events (such as weather) on asset availability.
(1) Gartner "Magic Quadrant for Business Continuity Management Planning Software," by Roberta J. Witty and John P. Morency, August 26, 2013.
About the Gartner MarketScope
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Modulo is a leading global enterprise provider of Technology Governance, Risk and Compliance (GRC) management solutions. Hundreds of organizations around the world leverage the award-winning Modulo Risk Manager™ as a flexible and affordable approach to manage risk, compliance, and business continuity across the enterprise and extended enterprise of third-party relationships. Customers span the financial, health care, retail, manufacturing, higher-education, telecom, energy and government sectors and include BASF, BC Hydro, Commercial Bank of Dubai, Microsoft, New York University Medical Center, Synovus Financial, and Schlumberger. Modulo has earned industry recognition as a 2012 Innovator of the Year and “5-Star” product review rating for three consecutive years by SC Magazine.