EnCrisp® LLC, a leader in enterprise GRC solutions, today announced record results for the year ending December 2007. The company achieved greater than 300% annual compounded rate of growth in specialized solutions and services over the past three years. Revenue bookings grew by more than 100 percent compared to the same quarter last year. With this growth EnCrisp's world class GRC solutions and services -- used to implement internal controls and best practices across industries and within major enterprise applications to meet a myriad of compliance mandates -- have helped establish the firm as an industry leader.
"Our record-breaking results demonstrate that the GRC market is an exciting and dynamically growing sector," said EnCrisp Chairman & Chief Executive Officer Bhavesh C. Bhagat. "It is clear from our interface with C-level executives representing IT, Finance, Controllers, Accounting and Auditing, that our vision for delivering razor-sharp focused, independent, business-driven security and compliance sustainability solutions, backed by unmatched 'Guaranteed Results' is resonating in the marketplace. The message from our customers and their boards is clear: 'Transform compliance and GRC programs from a never-ending expense to an asset for our company.' " Bhagat continues, "We are globally positioned to help make this happen. Our successful execution and dedication to innovation and guaranteed customer satisfaction have established EnCrisp as the firm of choice for specialized GRC solutions."
During the current fiscal year, EnCrisp continued to build momentum, providing unmatched value to its customers by delivering specialized solutions for:
Six Sigma-based GRC automation software selection (documenting and testing of internal controls in complex organizations and varied IT systems)
GRC implementations and global roll-outs
ERP security and controls design and refinement implementations
Compliance (Sarbanes-Oxley, JSOX, OMB A-123) documentation and testing program and project management
Specialized corporate training programs custom-tailored with a GRC and security focus
Industry vertical focus on improving business processes through GRC initiatives
Unmatched GRC software design and testing expertise complemented by knowledge and eco-system partnerships with all major vendors.
The majority of EnCrisp's new customers selected the firm to establish their GRC programs for multiple SAP landscapes and other business systems, and to design, integrate and enable end-to-end compliance across application security, business process controls and IT general controls. Helping clients shift from point-in-time to more periodic and continuous risk management, EnCrisp enabled continuous testing and auditing of not only IT security access controls but also master data controls, process configuration settings and sensitive transactions.
Some key milestones EnCrisp achieved in 2007:
Recognition by worldwide audit community: Through work for its customers, EnCrisp has established relationships and has partnered with all major Big Four audit firms globally and is intimately aware of all financial and non-financial audit methodologies deployed by these firms to complement their audit efforts at EnCrisp customer sites, along with Encrisp's GRC and technical compliance and security refinement efforts.
Expanded eco-system of global GRC partners: EnCrisp continues to partner with like-minded specialist firms globally with interests and execution abilities in GRC. This global network of software, hardware and services partnerships has enabled EnCrisp to bring "Best in Class" execution at the most cost-efficient value point for its customers.
Innovation and customer satisfaction: Nearly 100% of EnCrisp customers have deployed and integrated their use of GRC automation technologies with technical security and access controls design in the past year. These customers are taking advantage of innovative new capabilities which allow them to monitor and audit a broader set of controls, including system configuration settings.
"While compliance technology is improving at a rapid pace and becoming a necessity for global businesses trying to cope with tremendous increases in their costs of compliance and audit fees, there is increasing demand from our customers for help in demystifying the technology automation landscape and for differentiating vision from reality in the software selection process. Over the past few years we have seen a flood of software companies claiming to solve every single compliance and security problem on the face of the Earth and we will see increased consolidation and M&A activity among these software vendors in the near future. As a result of our multi-dimensional skill set and delivery model, EnCrisp has gained an enviable reputation as a pioneer in this field for providing the best-in-class solutions and fresh thinking for many clients globally," commented Bhagat. He added, "Our customers are demanding a unique set of cutting edge services to lower their costs of compliance and we are positioned to respond with the best knowledge, innovation and real life experiences."
Looking ahead: As Encrisp continues its emphasis on software innovation and R&D, the firm will incorporate new innovations, new products and feature sets into its EnCURE™ platform for "Guaranteed Compliance" in the next several quarters. By the end of 2008, the firm expects a significant majority of customers will leverage these new technologies and reap the sustainability benefits of improved cost-effective GRC lifecycles.
About EnCrisp LLC
EnCrisp is a global leader in designing and implementing leading-edge SAP GRC solutions with a "business-driven" approach to improve SAP security, automate audit risk assessments and eliminate inefficiencies. Private, public and governmental entities of all sizes benefit from EnCrisp's corporate governance, internal controls, security design, training and audit risk management services. The EnCURE™ solutions platform and methodology incorporate real-life experiences from SOX compliance implementations with Big Four audit assurance methodologies, SAP/ERP internal controls implementation, and software design to deliver rapid implementation of SAP security design, accelerated issues remediation and clear guaranteed results with ROI. EnCrisp delivers instantaneous value to its customers by helping them select and leverage the most "optimal" mix of technologies for compliance. Actual compliance implementation experiences and case studies, together with unique C-level relationships with all GRC software vendors, enables EnCrisp to provide immediate cost savings to its customers by avoiding less optimal technologies for business compliance. For more information, email info@EnCrisp.com or visit www.EnCrisp.com
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP AG in Germany and in several other countries all over the world. All other product and service names mentioned are the trademarks of their respective companies. EnCrisp and EnCURE are registered trademarks of EnCrisp LLC in the United States and certain other countries. All other EnCrisp product names and service names are trademarks or registered trademarks of EnCrisp LLC or EnCrisp Pvt. Ltd. in India. All other company and product names are trademarks or registered trademarks of their respective owners. Data contained in this document serve informational purposes only.