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Atlanta, GA. – January 18, 2011– Compliance 360, a leading provider of Software-as-a-Service (SaaS) solutions for enterprise governance, risk management and compliance (eGRC), today announced record revenue and net earnings for 2010, stoked by new customers, which drove 66 percent of the company’s software sales. The company attributed the success to its on-demand software model, which enables quick deployments and a lower overall cost of ownership, and a commitment to service that has resulted in customer retention exceeding 93%.

“Not only did we continue to add new customers at a very healthy rate in 2010, but we also had a record number of customers go live and renew their relationships with Compliance 360 and expand their deployments,” said Steve McGraw, president and CEO of Compliance 360. "Our SaaS-based business model provides long-term visibility into our revenue stream, which enables us to stay focused on product expansion that evolves with our customers’ business needs."

Highlights for Compliance 360 in 2010 include:

• Record revenue and net earnings driven by recurring revenue SaaS model and stoked by new customer sales:
• 35 percent increase in GAAP revenue compared to 2009
• Net earnings growth exceeding 100 percent compared to 2009
• New customer software sales accounted for 66 percent of total software sales for the year
• New customer accounts added at an annual growth rate of 21 percent
• The top-ranked GRC company in Inc. Magazine’s 2010 list of America’s fastest-growing private companies
• Increase in replacing competitive GRC products:
• Replaced competing systems in more than 100 new customer facilities
• Surpassed 225,000 active users, a 50 percent increase over 2009
• Major product expansion with two new product lines and key senior executives:
• Launched Third-Party Risk Management and Internal Audits product lines
• Bob McGowan, a software industry and product management veteran of 26 years, joined Compliance 360 in the role of vice president of product management
• Company veteran Debbie Luyk promoted to vice president of product marketing

Prior to joining Compliance 360, McGowan held product management and business development leadership roles in large, medium and start-up organizations, including Idapta, XcelleNet, Cambia Security and nCircle. In his product management roles, McGowan established a reputation for on-time, on-target delivery of high-quality enterprise software applications. His responsibilities have included defining product strategy, product roadmaps and individual product requirements as well as using product life cycle processes to coordinate efforts across functional groups including software development, quality assurance, performance testing, technical publications, training and product marketing.

"From our beginning, we have leveraged our core competencies in enterprise software development to deliver a comprehensive suite of SaaS-based GRC solutions," McGraw added. “With the addition of Bob McGowan to lead product management and Debbie Luyk’s new product marketing role, we have deepened our expertise in software design and development and sharpened our focus on market requirements as we prepare to expand our overall GRC focus and application set into IT governance and other key industry segments."

About Compliance 360

Ranked as the fastest growing GRC software vendor in Inc. Magazine’s 2010 list of America’s fastest growing private companies, Compliance 360 is the leading provider of enterprise governance, risk management, compliance and audit management solutions for companies that operate in regulated industries.  With these solutions, organizations reduce risks, improve efficiencies and protect their brands using a single platform to address their comprehensive GRC requirements.  The Compliance 360 Software-as-a-Service (SaaS) solution suite helps organizations address policies and procedures management, regulatory compliance management, internal and external audits, third party risk and vendor management, contract management, incident management, fraud, waste & abuse, surveys, accreditation, enterprise risk management and IT governance.  Compliance 360 is headquartered in Atlanta, GA and assists over 225,000 users every day in a variety of complex, regulated business environments including healthcare, insurance, financial services and others. For more information, visit www.compliance360.com.

Editor’s Note: Compliance 360 is a registered trademark of Compliance 360, Inc. Virtual Evidence Room is a registered service mark of Compliance 360, Inc. Any other trademarks are recognized as proprietary to their owners.