ERP Maestro Closes Q1 2016 with Record Growth of 491% Delivering on Demand for Segregation of Duties and Access Management in SAP
Surge Led by Increased Adoption of Enterprise Plan Subscriptions to Combat Security Breaches and Fraud in SAP Business Applications.
WESTON, FL (PRWEB) MAY 31, 2016
ERP Maestro today announced continued triple-digit growth of 491% in revenue during the first quarter of 2016 compared to the same quarter in 2015. The exponential year-over-year growth in Q1 2016 resulted in the strongest revenue quarter ever and the highest achieved Average Sales Price (ASP) quarter to date for ERP Maestro, demonstrating a growing demand for solutions that automate the management of internal controls related to access and authorizations in SAP® business applications.
The company’s record achievement was led by an increased adoption of ERP Maestro Enterprise Plan subscriptions, which as of Q1 2016 make up 67% of sales – up from 12% a year ago. The Enterprise Plan subscription is the company’s flagship offering which includes full, end-to-end access control automation for SAP. The additional capabilities offered in the Enterprise Plan go beyond detection of segregation of duties (SoD) access conflicts and best-in-class audit-ready reporting to preventative controls like Emergency Access and Secure & Compliant Provisioning, which help to reduce or mitigate risks of a security breach or fraud.
PeroxyChem, a leading global chemicals manufacturer and supplier, found value in the full access control capabilities of Access Analyzer. The Enterprise Plan subscription was selected with the intention of first focusing on existing access risks, and then implementing preventative controls once those risks have been identified and addressed. After a rigorous initial use of the tool over a four-month period, “we were able to fix almost 97% of the segregation of duties conflicts we had in SAP,” said Madhu Budati, Manager of SAP Applications at PeroxyChem.
According to a recent study by KPMG, “Global Profiles of the Fraudster,” weak internal controls were found to be an enabler to no less than three quarters of 750 fraudsters examined. In addition, the study found that companies are not effectively using technology to combat fraud, with only 3 percent of them employing data analytics or tools that can sift through millions of transactions to find suspicious items.
“We continue to be excited with the growth we are seeing, and are even more excited that clients are seeing the value in our solution as shown by our 100% retention rate,” said Jody Paterson, CEO and Co-Founder of ERP Maestro. “Companies are more educated than ever before about their options for automating access controls, and we look forward to continuing to provide that full range of capabilities and industry-leading reporting in a way that reduces the time, cost and resource burden on their teams.”
About ERP Maestro
ERP Maestro Access Analyzer takes the complexity out of monitoring segregation of duty (SoD) compliance, sensitive access, emergency access and compliant provisioning in SAP®. As the only truly cloud-based SaaS solution in its category, ERP Maestro can be up and running in as little as 30 minutes, providing best-in-class, business-ready and actionable reporting that empowers organizations to prevent fraud, pass corporate access audits and meet regulatory and legislative compliance with ease. ERP Maestro has been recognized by Gartner as a representative vendor for SoD Monitoring Tools and honored by analyst firm GRC 20/20 with both the 2014 GRC Innovation and Value Awards. To learn more and inquire about a free trial, visit https://www.erpmaestro.com.
To learn more, read the full press release here.