Qatargas Selects BWise to Standardize Its Enterprise Risk Management Program and Increase Efficiency
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Press release date: September 10, 2013
NEW YORK, DOHA, Qatar and 'S-HERTOGENBOSCH, Netherlands -- BWise, a NASDAQ OMX company and the leading provider of enterprise Governance, Risk Management and Compliance (eGRC) software, announced today that Qatargas, the world's largest Liquefied Natural Gas producer, selected BWise as their preferred supplier for GRC software. Qatargas' primary objective is to maintain and manage its Enterprise Risk Management (ERM) strategy and to support the integration of its operational risks, associated controls and actions to streamline the ERM process to gain efficiencies.
To support its ERM Program, Qatargas sought a software solution that was able to standardize its risk and controls management practices in one framework that could be embedded across the organization providing one, company-wide risk language.
"BWise was selected due to its respected customer base, the flexibility of its platform and its ability to provide tailored reports and dashboards for management on key risk exposures, control requirements and progress on implementing identified actions," said Rahat Latif, Chief Risk Officer, Qatargas.
Qatargas, based in Doha, Qatar, was established in 1984. The company is the largest Liquefied Natural Gas (LNG) producer in the world, with an annual LNG production capacity of 42 Million Tonnes per Annum (MTA). As a large enterprise with multiple entities and multiple user environments it is important for Qatargas to identify risks, prioritize them and mitigate these risks within every part of the organization, as part of its ERM program.
"BWise is very proud to welcome Qatargas as a new customer. We are expanding in the Middle East and are flattered that Qatargas, the largest LNG supplier in the world, has chosen BWise as its preferred GRC software solution. We look forward to working with Qatargas on its objectives, particularly quality improvements and risk management efficiencies," said Robert Pijselman, Chief Executive Officer, BWise.
BWise, acquired by NASDAQ OMX in 2012, supports organizations to track, measure and manage key organizational risks using the BWise® GRC Platform. BWise is positioned in the Leaders Quadrant of Gartner's 2012 Magic Quadrant for Enterprise Governance, Risk and Compliance (GRC) Platforms. Request a complimentary copy of the report via www.bwise.com.
BWise, a NASDAQ OMX company, is a global leader in Enterprise Governance, Risk Management and Compliance (GRC) software. Based on a strong heritage in business process management, the BWise® GRC platform provides companies with highly-rated, proven software solutions for Risk Management, Internal Control, Internal Audit, Compliance & Policy Management, IT GRC and Sustainability Performance Management.
BWise's end-to-end solutions support an organization's ability to understand, track, measure, and manage key organizational risks. BWise helps companies truly be in control by balancing performance with their financial and reputational risks, improving corporate accountability, increasing financial, strategic and operating efficiencies. Using BWise, organizations are able to efficiently comply with anti-corruption regulations like FCPA and the UK Bribery Act, the Sarbanes-Oxley Act, European Corporate Governance Codes, ISAE3402/SAS-70, PCI-DSS, Solvency II, Basel II and III, Dodd-Frank, ISO-standards, and many more.
BWise sales, service and support offices around the globe provide for the GRC needs of hundreds of clients, including: adidas, AEGON, Ahold, AngloGold Ashanti, Connexxion, Health Alliance Plan (HAP) of Michigan, LeapFrog, Liebherr, Marathon Oil, Southern Company, Swiss Life, and Transcontinental. For more information, visit www.bwise.com. Follow us on LinkedIn, Facebook and Twitter.
About NASDAQ OMX
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.999% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com. Follow us on Facebook (http://www.facebook.com/NASDAQ) and Twitter (http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
BWise, a NASDAQ OMX company
Maddy van den Berg
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