January 9, 2012

Aveksa Delivers Outstanding Results For 2011

Company Significantly Increased Revenue, Introduced Several New Product Innovations and was Named a Market Leader by Leading Industry Analyst Firms

WALTHAM, Mass., Jan 09, 2012 (BUSINESS WIRE) -- Aveksa, Inc., the leading provider of enterprise Access Governance automation solutions, today announced results for 2011, a year in which the company significantly increased revenue, introduced several innovative new products to the market, and was named a leader in the Access Governance automation market by both Forrester and Gartner, two of the top IT research analyst firms.

Aveksa experienced tremendous growth across all financial metrics in 2011. Total revenue for FY 2011 increased 76% over FY 2010, while license and maintenance bookings showed a 77% increase. Aveksa's 2011 fiscal year was capped by a tremendous Q4 in which the company grew its customer base by 15%, added many new Global 2000 customers in North America and Europe, and closed several multi-million dollar transactions. Total revenue for Q4 2011 increased 96% over Q4 2010, while license and maintenance bookings for Q4 2011 increased 124% over the same period of the prior year. As a testament to the superiority of its solutions, during 2011 the company also replaced several of its key competitors at major enterprises across the globe.

In addition to Aveksa's impressive financial performance in 2011, the company also brought many new product innovations to market including a new Data Access Governance module, a new architectural concept and decision support model for access management called XMDB(TM) (Access Management Database), Access Fulfillment Express (AFX) for more efficient and cost effective access change fulfillment, and an Access Governance-as-a-Service offering for small to medium-sized businesses (SMBs) to quickly, easily and cost-effectively meet their internal and external access-related security and compliance requirements, and establish efficient and consistent access request processes.

In 2011, Aveksa's products delivered rapid and substantial value, with numerous existing customers expanding their deployments to cover additional applications and implement additional product modules. Aveksa's customers continue to obtain benefits from the company's investment in making its products easy to deploy, based on configuration rather than requiring custom coding. This results in significantly reduced project times and costs. For example, one of the UK's leading life and insurance companies, with over GBP 100 billion in assets under management, deployed the Aveksa solution into production in 17 days. Aveksa's purpose-built architecture and a proven deployment methodology helped them quickly address their audit issues and institute efficient, well-defined automated processes. Illustrating the rapid time-to-value inherent in its solutions, in 2011 over 70% of new customers successfully went into production within 4 months of purchasing an Aveksa product.

Finally, in 2011 Aveksa was named a leader in the Access Governance automation market by both Forrester Research and Gartner in in-depths reports on Access Governance automation vendors and solutions. In the Forrester report entitled "The Forrester Wave(TM): Role Management and Access Recertification, Q3 2011", Aveksa was named the leading vendor in the market with Forrester Analyst Andras Cser stating: "Aveksa built its Access Governance Platform with access recertification in mind; it has a broad range of features for defining and modifying an access recertification campaign. Its user interface is designed for the business user, and its backend architecture was optimized to handle hundreds of millions of entitlements." As cited in the Forrester report, Aveksa's solutions are specifically built to handle large-scale environments. For example, one Aveksa customer currently has over 500,000 employees using Aveksa's Access Governance automation solutions.

"We set very ambitious goals for all phases of the company at the beginning of 2011," said Vick Viren Vaishnavi, President and CEO of Aveksa. "I am very proud of the fact that we not only met these goals, but exceeded every one of them. Aveksa's tremendous success in 2011 is a direct result of the hard work and focused efforts of every single person in the company. This success positions Aveksa as the clear leader in the Access Governance automation market, and lays the foundation for even greater success in 2012."

To read the MarketWatch article, click here.