New Delhi, India (PressExposure) June 19, 2009 -- For the fifth consecutive year, SAS, the leader in business analytics software and services, continued its reign as the leader, by Chartis Research in its Operational Risk Management Systems 2009 report. Since 2005, Chartis has positioned SAS OpRisk Management in the top spot for "completeness of offering" and "market share potential."
Chartis forecasts the worldwide operational risk management (ORM) market to grow to US$1.68 billion by 2013. The Chartis report looks at both the demand and supply sides of the market and covers the main market and regulatory requirements as well as the competitive landscape. The evaluation examined a vendor's core functionality, data management capability, vendor characteristics, implementation process, user friendliness, complexity, customizability/flexibility and costs.
"The capabilities of SAS OpRisk Management and enterprise risk management (ERM) software and services from SAS continue to earn our highest ranking," said Peyman Mestchian, Head of Advisory Board at Chartis. "SAS continues to demonstrate its innovation and commitment to solving its customers' evolving needs in risk management."
According to Chartis, a successful ORM vendor such as SAS must offer a flexible technology structure, on-going innovation, scalable sales and marketing strategy, domain expertise and the ability to offer a "one-stop shop" for operational risk, credit risk and market risk solutions as part of an integrated proposition. SAS was noted as particularly strong when it comes to technology structure since SAS "views ORM as an integral part of the overall ERM and compliance architecture." Chartis also highlighted SAS to have "shown a good flow of ongoing innovation over the past 24 months" and a "strong direct sales team." Lastly, SAS was noted as one of the leaders in positioning itself as a one-stop shop for risk management software especially with the addition of financial crime solutions such as SAS Anti-Money Laundering and fraud detection. This has been very attractive for "emerging regions of the Middle East, Asia Pacific, Africa, South America and Eastern Europe" whose "CRO or a central decision making unit is looking for a total ERM solution."
"SAS OpRisk Management is a comprehensive solution built on the SAS Business Analytics Framework, a powerful blend of data integration, analytics and reporting capabilities. SAS Operational Risk Management helps organizations optimize capital allocation while mitigating risks in all areas of their enterprise", said Mr. Sudipta Sen - CEO & MD of SAS India.
Currently, more than 200 organizations use SAS for operational risk management, including: ABN Amro, Alberta Department of Energy (Canada), Caisse Nationale des Caisses d'Epargne (France), ING, Kookmin Bank, Vattenfall (Sweden), Axis Bank (India) and Woori Bank.