Archer Technologies Continues to Strengthen Momentum in Governance, Risk and Compliance Market
Archer Technologies, a leading provider of enterprise governance, risk and compliance solutions, today announced another record quarter, marked by continued blue-chip client acquisition, strong revenue growth, GRC technology innovation and widespread industry recognition. In the first half of 2009, the company added nearly 30 clients, including 14 Fortune 1000 accounts. In addition, Archer expanded its solution offerings based on customer demand to address financial risk management and internal audit initiatives. Third-party validation confirmed Archer's ongoing GRC leadership, in both the established IT-GRC segment and the emerging Enterprise GRC market.
"Archer is a disruptive force in the GRC market today," said Michael Rasmussen, a leading GRC authority and president of Corporate Integrity, LLC. "They offer one of the most versatile and easily customizable platforms on the market that can be swiftly tailored to meet any GRC process and content issue."
Increased Revenue and Market Presence
Results include:
- 56 percent revenue growth in the second quarter versus the same period
last year
- 100 percent client renewal rate in the second quarter (98 percent
aggregate renewal rate since company inception)
- Expanded client base within the technology, financial services,
retail, healthcare, transportation and media industries to include 14 new
Fortune 1000 clients -- among them the worldwide leader in software,
services and solutions -- and an additional 15 global accounts
- 27 percent of the Fortune 100 among the company's distinguished
clients.
"We continue to see strong quarter-over-quarter growth and increasing adoption of our GRC solutions on a global scale. In fact, today the vast majority of our customers manage their GRC programs through multiple Archer solutions," said Archer CEO Jon Darbyshire. "As we expand our reach, Archer's focus will remain on our customers -- providing them with best-in-class technology solutions and unparalleled service to help them meet their enterprise-wide risk management and compliance objectives. Archer's 100 percent renewal rate in the second quarter tangibly illustrates our commitment to customer success."
GRC Technology Innovation
In April, Archer launched its new mobile E-GRC solution. Using their Smartphones, clients can now rapidly access critical information from Archer's Policy, Risk, Compliance, Audit, Incident, Vendor, Threat, Business Continuity and Enterprise Management solutions. Archer Mobile keeps business professionals connected to their GRC data from remote facilities, satellite offices, warehouses, vendor locations, home offices and anywhere else business takes them.
Third-party Recognition
Archer received the "Strong Positive" rating in Gartner's 2009 MarketScope on IT Governance, Risk and Compliance Management (IT-GRCM). Additionally, Forrester Research, Inc. positioned Archer as a "Strong Performer" in its July 2009 report The Forrester Wave™: Enterprise Governance, Risk and Compliance Platforms, Q3 2009. Archer was the only vendor to be included in both the IT-GRC and E-GRC research, an indication of the breadth and depth of Archer's solution suite.
In addition to recognition from the analyst community, Archer was the only GRC solution provider to be honored in the SC Magazine US Excellence Awards for the sixth consecutive year. Archer earned the Best Regulatory Compliance Solution Award, which it also took home in 2008.
Expanding Partner Program
World-class institutions continue to endorse Archer by joining the company's partner program, which expanded in the first half of 2009 to include Accenture, Accuvant, HITRUST, McAfee, Nova Datacom, UCF and Wipro. Julian Waits, the former CEO of GRC solution provider Brabeion Software Corporation, has rapidly developed Archer's strategic partnerships in his new role as vice president of business development. Waits is also expanding Archer's GRC application and services portal -- the Archer Exchange.
"I merged my company with Archer because they are the best in the business among GRC technology innovators," said Waits. "The deep content, flexibility and superior architecture of Archer's GRC platform allow us to engage partners on a global scale to deliver best-of-breed solutions that address the complex risk and compliance issues our mutual customers face. Combined with our direct sales approach, Archer's partner strategy will allow us to continue our rapid growth in the GRC market."