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Greenlight Technologies Continues Impressive Growth and Expansion in 2011Company Significantly Increased Key Growth Metrics Across All Areas of the Business Including New Customers Acquisition, Product Innovations and Rapid Time to Value for Customers (January 24, 2012)
FLEMINGTON, NJ -- (Marketwire) -- 01/24/12 -- Greenlight Technologies, the market leader in continuous, real-time enterprise business control monitoring software, announced today its operating results for fiscal year 2011. The company realized significant growth in sales bookings, revenue and introduced several innovative key capabilities to its enterprise business control monitoring platform that enables customers to detect and resolve access and transactions risk across all applications.
Greenlight Technologies experienced tremendous sales growth in 2011. Direct sales bookings for FY 2011 increased 79 percent over FY 2010, while direct revenue increased 66 percent over the same period. The company realized its single biggest sales quarter in its history in Q4 2011 with an increase in booking of 375 percent over Q4 2010. Greenlight Technologies added many new Global 2000 customers in North America, Europe and India, including five companies on the Fortune 50 list. The company grew its customer base in 2011 by 47 percent, with 50 percent of all customers having purchased more than one module of the enterprise business control monitoring platform.
In addition to the impressive financial performance in 2011, Greenlight Technologies delivered product innovations to market that have been well received by customers. The company released a new version of LaserFocus that delivered enhanced access risk analysis and remediation capabilities as well as new capabilities for mitigation monitoring that correlates users to the specific segregation of duties transactions that they have executed across multiple applications. The company also released a new version of RTA Design Studio with integration support for SAP BusinessObjects GRC 10. In addition, Greenlight Technologies introduced an application independent version of its emergency super-user management solution ResQ, which enables it to be leveraged across ERP systems as well as other key business applications. The company also released a version of its Audit Analytics product that is optimized with compliance controls to address the monitoring challenges of the Foreign Corrupt Practices Act (FCPA).
Greenlight Technologies continued to deliver rapid, demonstrable value to customers by reducing the complexity and cost of achieving compliance with regulations while lowering user access risk across the enterprise and ensuring the integrity of key business transactions. Across multiple customer implementations, the average implementation time for the solution was under six weeks and the annual internal costs associated with identifying and managing segregation of duties access control violations for an organization was reduced by 80%.
In 2011, Greenlight Technologies achieved a number of milestones. The company closed on a round of capital funding from Storm Ventures of Menlo Park, CA in July and added Sanjay Subhedar to the Greenlight Technologies board of directors. The company also expanded its strategic partnership with SAP with the announcement that Greenlight Technologies LaserFocus is an SAP endorsed business solution for the analysis, remediation and mitigation control monitoring for cross-system segregation of duties access risks. To ensure that the company can meet the product innovation and solution delivery demands of the market, Greenlight Technologies expanded its global employee base by 31% in FY 2011.
"I'm very pleased with the business performance the company achieved in fiscal year 2011," said Anand Adya Founder and CEO of Greenlight Technologies. "The growth we realized this past year demonstrates the value that Greenlight's enterprise business control monitoring platform is delivering for customers. The tremendous success we had is a direct result of executional focus and hard work from every single Greenlight employee. As we enter 2012, we are well positioned for growth and have set very aggressive goals for the company that I am confident we can achieve."
About Greenlight Technologies
Greenlight Technologies provides the industry's most comprehensive, real-time enterprise business control monitoring software solution that enables effective compliance and risk management for user access and transactions across all applications. Leading Global 2000 organizations rely on Greenlight Technologies to reduce the complexity and operational overhead associated with achieving compliance with regulations and ensures the integrity of key business transactions. For more information on Greenlight Technologies, please visit www.greenlightcorp.net or call 908-782-5700.
Greenlight Technologies, Inc.
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