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Mumbai: Modulo, a leading provider of IT and Enterprise Governance, Risk and Compliance (GRC) solutions, today announced the expansion of its global organization with the opening of its APAC headquarters in Mumbai. As part of this expansion, Modulo brings on board industry IS expert Devang Ashar as the Managing Director for Modulo APAC (Asia-Pacific). Modulo is a sponsor of the GRC Summit 2012 conference being held March 15-16 at the Peninsula Grand in Mumbai.
The regional office from India will enhance their presence in nearby markets with plans to expand to Hong Kong, Singapore, China, Japan, Australia and New Zealand.
Modulo's expansion into APAC is in response to the emerging need for GRC solutions, in particular among the financial services, telecommunications, energy and IT sectors. The market in India alone accounts for $23b in annual IT expenditures.
"The establishment of the new headquarters and appointing Devang Ashar demonstrates Modulo's commitment to current and new customers having presence in the APAC region. This development is another step toward solidifying Modulo's strong worldwide presence," said Sergio Thompson-Flores, CEO for Modulo. "Indian IT companies provide solutions and services to highly regulated US/European markets and we are seeing a huge demand for Vendor Risk Management. In the coming years most organizations will move to automated GRC solution that offer more efficient and effective ways for Risk Management."
"As India grows its own internal business environment and at the same time becomes the 'back-office of the World,' confidential information belonging to companies and their customers across the globe is continuously being processed. The solution providers obligation are not only to comply with local regulations but also with the regulations of the country from where the confidential information originates. Also organizations catering to the local markets face similar challenges of protecting information against fraud and theft and maintaining data privacy," said Devang Ashar, Managing Director for Modulo APAC. "As a result the APAC region is experiencing a greater need to have automated, mature and accurate ways of fulfilling GRC requirements. Modulo's forte has always been quick visibility and out-of-the-box features, and this blends very well with the APAC market needs."
Modulo was named a "Leader" in the December 1, 2011 report "The Forrester WaveT: IT Governance, Risk, and Compliance Platforms, Q4 2011." Modulo Risk Manager NG is a mature, next-generation, cloud-based solution for automating risk and compliance processes. Over 500 organizations worldwide use Modulo Risk Manager to gain continuous business improvements and achieve dramatic cost savings by managing and monitoring the entire lifecycle of IT security and operational risks while maintaining compliance with multiple industry regulations and corporate policies.
[BWI]