January 30, 2015 posted by Allen Thompson
SAN FRANCISCO, Calif., January 30, 2015 – Aravo Solutions, Inc., the leading provider of cloud-based Third Party Risk & Compliance solutions, today announced record financial and operating results for 2014, supported by a subscription revenue growth rate of 71% and a customer retention rate of 100%.
“Regulatory authorities around the world are turning their attention toward enforcing existing laws and developing new, more stringent regulations concerning bribery, corruption and fraud.” said Aravo Solutions CEO Michael Saracini. “In 2014, we saw a dramatic shift in companies taking proactive steps to implement proper controls for managing third party risk and compliance. This increase in regulatory pressure coupled with rapid market adoption of Aravo’s Anti-Bribery Anti-Corruption solution contributed significantly to our record growth and financial performance in 2014.”
Aravo grew subscription revenue by 71% and increased new customer count by 47% while maintaining a customer retention rate of 100%. Aravo’s purpose built third party risk and compliance applications, including Third Party Registration & Qualification, Anti-Bribery & Anti-Corruption and Responsible Sourcing have all been adopted at an accelerated pace across several regulatory intensive industries including banking, aerospace & defense, consumer goods, life sciences, technology, manufacturing and diversified natural resources.
Aravo Solutions has emerged as the industry’s leading provider of third party risk and compliance solutions for Global 2000 organizations. Aravo now supports more than 50,000 buyers, managing 2.7 million third parties, in 38 languages and 112 countries.
Aravo provides the market’s leading third party risk management and regulatory compliance solution. Aravo launched its cloud-based platform in 2004 and continues to serve as the industry’s leading innovator today. Our market-leading third party risk and compliance solutions include Registration and Qualification, Anti-Bribery / Anti-Corruption, Responsible Sourcing, and Data Privacy / Data Security. The world’s best-run businesses utilize Aravo’s platform, including General Electric, Accenture, Salesforce.com, Cisco Systems, Unilever, and DuPont. Aravo currently supports a user base of over 50,000 buyers managing 2.7 million third parties in 38 languages and 112 countries Aravo is headquartered in San Francisco, with offices in Chicago, Dallas, Portland, Monterrey, Mexico and Ahmedabad, India. For more information regarding Aravo’s award-winning third party risk and compliance solutions please visit our website http://www.aravo.com/.
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