Compliance software vendor OpenPages plans to release by midyear a tool for tracking IT-related compliance issues as part of an ongoing effort by the company to extend its software offerings beyond its Sarbanes-Oxley Act compliance system.
The firm last week released a new operational risk package intended to give companies an enterprisewide view of the risks they face -- everything from natural disasters to data entry errors. The system, called OpenPages ORM, is designed to help firms identify and manage risks with integrated quantitative and qualitative measures.
Patrick O'Brien, director of product management at OpenPages, believes many firms don't have the capability of assessing risk across their enterprises and consequently may be putting too much effort and money into areas where risk is minimal while leaving gaps elsewhere. Pricing for OpenPages ORM is based on US$3,000 per user.
Later this year, the company plans to release OpenPages ITG, which is intended to serve as a system of record for the broad range of feeder systems that monitor and test IT environments, as well as manage IT portfolios and products life cycles, said Peter Morgan, vice president of marketing.
OpenPages' chief product has been its SOX Express for regulatory compliance. Paul Hamerman, an analyst at Forrester Research, said OpenPages has established itself as a market leader in that area but also realizes that SOX itself is a window of opportunity from a software perspective to expand into other areas.