RiskWatch Engages M&A/Business Devel. Firm to Prep. for Growth
Prepare for Major Growth Due to New Compliance Requirements
RiskWatch Moves to Strengthen Its Leadership Position in
Enterprise Security Risk Analysis
ANNAPOLIS, Md., March 29, 2006 -- RiskWatch, Inc. announced
today that it has retained Consensusone, LLC of New York
City as a growth partner. Consensusone will be increasing
the RiskWatch infrastructure and handling channel
development, partnership development, and international
business development.
RiskWatch has expanded its customer base dramatically in
2006 with the introduction of the RiskWatch for Financial
Institutions(C) software which allows organizations to do a
self-assessment against the FFIEC (Federal Financial
Institutions Examination Council) guidelines. The software
also assists organizations to assess compliance with
disparate requirements such as the FFIEC IT Framework, the
Gramm-Leach Bliley Act (GLBA), the HIPAA Final Security
Rule, the ISO 17799-2005 and 27001, NIST 800-26, SB 1386,
and the PCI (Payment Card Industry) standards among others.
The increase in information technology security related
regulations in a variety of markets including finance,
healthcare and the pharmaceutical industry has created
unprecedented growth for RiskWatch's compliance analysis
related software products. Consensusone is helping with
growth strategy as well as developing the infrastructure to
handle the anticipated growth. Consensusone has a network of
partners and advisors that advise and execute the activities
related to managing accelerated growth.
"RiskWatch is the leading risk analysis software developer
and has been the market leader compliance-based analysis
software, positioning it perfectly to take advantage of the
up tick in interest in and demand for security risk analysis
and compliance related tools," explained Garrett (Denny)
Denniston, the Managing Partner of Consensusone.
"It's very exciting to see the incredible growth in our
market and be able to provide a tested and rated solution to
so many new customers. Having the tools to be able to expand
and increase our position in these markets is a win-win for
us and our customers because we're able to offer them better
products, faster updates and maintain our market leadership
in this expanding space," said Caroline Hamilton, President
and Founder of RiskWatch, Inc.
According to a recent study conducted by AMR Research, about
$6 billion or 22 percent of all compliance spending this
year will reflect efforts by companies to become compliant
with the FFIEC requirements, as well as regulations related
to the Sarbanes-Oxley Act. Compliance spending is likely to
continue upward in 2007, reaching about $28 billion.
Sarbanes-Oxley and previous corporate scandals have
refocused corporate strategies to incorporate risk
management, governance, and other concerns into their daily
operations.
Since 1993, RiskWatch(TM) is the top-rated provider of
innovative security risk assessment and compliance software
that automate the risk management process. RiskWatch clients
include ISS, IBM, Pfizer, Abbott Labs, Constellation Energy,
the U.S. Department of Defense, Orlando Regional Health
Care, BlueCross BlueShield, Baptist Hospitals and many more.
For more information, contact:
Caroline Hamilton
RiskWatch, Inc.
410-224-4773, x105
chamilton@riskwatch.com
http://www.riskwatch.com
Garrett (Denny) Denniston
Consensusone, LLC
917-939-2825
ddenniston@consensus-one.com
http://consensus-one.com
