-- New Product Launches & Software-as-a-Service (SaaS) Offerings: The company released a new version of its BizRights® Platform and Controls Intelligence Suite Version 5.0, providing the most accurate, actionable, and auditable information about key business risks such as duplicate payments, general ledger mistakes, overextended credit, non-compliant travel expenses and purchasing card misuse. For the first time, this release makes Approva's product suite available on a software-as-a-service basis. -- Expanded Adoption by the Audit Community: During the course of 2009, Approva renewed and expanded the adoption of its products among "Big-4" auditors and regional audit firms. External audit firms used Approva's applications to conduct more than 300 control assessments. -- Integration with Complementary GRC Applications: Approva announced and expanded several industry partnerships with complementary GRC vendors that enable customers to cost-effectively deploy integrated GRC solutions tailored to their own IT environments. New and expanded partnerships include agreements with CA, Microsoft, Wolters Kluwer and Thomson Reuters. -- Expanding Approva's Position as the Controls Monitoring Standard: As the recognized global standard for independent controls monitoring and audit, Approva's solutions are now used to monitor controls in more than 120 countries across 30 different applications. -- Customer Satisfaction: A recent customer survey confirmed that Approva has continued to scale its customer support and service operations so that it can deliver on its commitment to providing 100% customer satisfaction even as it continues to grow. -- Attracted Growth Capital: In addition to meeting continued strong demand for GRC and CCM software, Approva also attracted funding to fuel future growth. In August, the company announced that it completed a $14 million financing round that will accelerate new product development, augment Approva's sales channel, bolster marketing efforts and help drive the next phase of the company's growth. -- Analyst Recognition: Approva's ongoing innovation and excellence in the CCM space was recognized by the independent advisory firm AMR Research which profiled Approva as part of a series of GRC software vendors. In the profile, AMR specifically highlighted the return on investment customers realize with Approva's software and its adoption by Big Four audit firms. The profile, titled "GRC Profile: Approva," published June 22, 2009 and authored by John Hagerty and Dennis Gaughan, also highlighted Approva's ability to identify, investigate and analyze anomalies in financial processes."With the clear indication of growth in CCM technologies in the coming year, Approva is uniquely well positioned to address the customer needs of finance, audit and IT organizations in the dynamic and rapidly evolving CCM market," said Lenn Kurtzman, Approva's chief financial officer. "Our strong 2009 performance coupled with our forthcoming product release in March will enable Approva to expand our reputation for innovation and sets the stage for continued growth in 2010." About Approva Approva® Corporation is the industry-leading provider of continuous controls monitoring software and is the industry standard at Big-4 audit firms. We enable business, finance, IT and audit professionals to identify, manage and prevent business exceptions in order to reduce compliance risk, increase operational efficiency and prevent inappropriate payments. Global companies such as Bayer, DirecTV, Discovery Communications, First Advantage, Honeywell, Pratt & Whitney and T-Mobile rely on Approva to deliver actionable and auditable intelligence of control breakdowns across their business systems, processes and transactions. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic Governance, Risk & Compliance (GRC) solution. For more information, visit http://www.approva.net or call +1-703-956-8300.
Contact Information: For More Information Contact: Chad Giron DBC PR+New Media for Approva +1.571.216.4894 approva@dbcpr.com