MEGA cited in Operational Risk Management (ORM) Systems 2007 report from Chartis Research

The Chartis report also states that, besides a ‘scalable business model’ and sustained and profitable growth, to be successful in the ORM market a software vendor must offer a flexible technology architecture, continual innovation, a scalable sales and marketing strategy, and domain expertise, ‘where software is only part of the solution’.

“Based on these factors MEGA has all the sector experience, financial resources, strategic vision, comprehensive methodologies and consultancy expertise, and a full range of robust and powerful software solutions,” said de Risi. He added that the company also has a global presence to support customers: “Our aim is to provide customers with a long-term service that will evolve with their needs, and support them over the lifetime of their projects, anywhere in the world.”

The MEGA GRC Suite
The MEGA GRC (Governance, Risk and Compliance) Suite associates a set of complementary tools based on a common platform designed to help business managers strategically and operationally achieve more efficient corporate governance, operational risk and internal control management, and address vital internal and external compliance requirements.

With automated control and alerts, and communication, the new solution enables managers to reduce, mitigate or eliminate their operational risks in the context of projects such as meeting quality standards and complying with mandatory regulations and best practices.

Besides ensuring multi-compliance support, an added benefit of the MEGA GRC Suite is improved performance at the operational level, through the implementation of preventive and corrective action plans that support risk management.

The Chartis Research ORM report
The Chartis report is an update of the market research company’s 2006 review on operational risk management systems. MEGA was not cited in that report because it launched its ORM solution, MEGA GRC Suite, in December 2006, well outside the timeframe of last year’s review.

The latest report considers the demand and supply sides of the market, forecasting that: “the worldwide operational risk management (ORM) market will grow at a compound annual growth rate of 9 per cent to reach $1.55bn by 2011 (financial services sector only).”

The report covers the main market, including a focus on the financial services sector, with information about regulatory requirements and competitive suppliers in the market. Updated forecasts on market size, vendor rankings and best practices are examined. The report also states that “Chartis expects ORM systems to become an integral part of every financial institution’s enterprise risk and performance management system and to reach maturity in 2012”.

For further information on the full report see www.chartis-research.com

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About MEGA International
Founded in 1991, headquartered in Paris and with offices and representation around the world, MEGA International is a global leader in enterprise architecture, offering solutions to improve company performance and ensure regulatory compliance. The company is an active contributing member to the Object Management Group (OMG). MEGA solutions provide executives with the ability to understand, discover, align, and control information at the enterprise level through its prominent modelling software, proven best practice methods, and expert consulting in business process analysis, operational risk management, and IT alignment.

The company provides solutions for Fortune 2000 companies, several of which are in the Fortune 100, and supports over 2,000 customers and 45,000 licenses worldwide. More than 20,000 consulting engagement days per year are delivered to clients.
MEGA has offices and affiliates in the United States, United Kingdom, Germany, France, Italy, Japan, and the Netherlands. European customers include Allianz, AXA, British American Tobacco, LCL Le Crédit Lyonnais, Renault Nissan, Société Générale and Unicredit.