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OpenPages Inc. has expanded its suite of enterprise risk management (ERM) and compliance products with the introduction of OpenPages Audit, a fully integrated solution for internal audit. The software gives internal auditors the ability to test and validate risk and compliance initiatives enterprise-wide and allows for a collaborative approach with business functions, according to Gordon Burnes, OpenPages vice president of marketing. Estimating demand for this type of product to be in the $500 million range, Burnes says the highly fragmented market now consists of a hodge-podge of inefficient solutions including spreadsheets and home-grown technologies. “Traditional docu-centric software solutions, paper-based products and asynchronous electronic processes performed in silos lead to mounting inefficiency, which distracts audit from performing its core function–assurance and risk management,” says Burnes.

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