The Austrian software vendor, avedos GRC GmbH, announced its merger with GBTEC AG, a German software and consulting company specializing in the digital transformation of companies and backed by Main Capital Partners, a strategic investor in the industry. This marks another growth milestone for the European player avedos to make its GRC software platform risk2value a central business system for governance, risk and compliance in modern organizations.
The founder and CEO of GBTEC Software + Consulting AG, Gregor Greinke, and Samuel Brandstätter, founder and CEO of avedos GRC GmbH, will officially announce the 100- percent acquisition of avedos through GBTEC on 11 May 2020. Samuel Brandstätter underscored his long-term engagement with a million-euro investment in the newly founded GBTEC Group. Marks Baughan Securities, which supported the transaction, is now serving as a consultant for avedos and its previous owners.
Through this merger, avedos has welcomed a strong partner on board that extends its offerings through a process-based view of GRC and vast know-how. GBTEC has offered a specialized solution, BIC Cloud GRC for process-based GRC, as a component of its BPM suite, BIC Cloud, and as a standalone solution for over two years. This merger and the software solutions resulting from it enable companies to holistically manage and interlink all GRC information on every level – from group governance to operational business processes.
With its software solution risk2value, avedos has established itself among the leading GRC software vendors in Europe. Large national companies as well as international corporations, including well-known names such as RWE, Henkel and MAN, rely on avedos and risk2value. Whereas GBTEC has focused on the operational level of GRC in BIC Cloud GRC, risk2value is a holistic GRC platform that enables companies to digitalize GRC processes and efficiently embed them in the organization. avedos will continue the development and sales of its software from its office in Vienna as a separate brand. Existing clients, therefore, can rely on the services and personal contacts that they know from avedos.
With its innovative BPM Suite BIC Cloud, GBTEC offers a complete cloud solution for companies to model, analyze, optimize and automate their business processes. In 2018, the market research institute Gartner listed GBTEC Software + Consulting AG as a Representative Vendor in its “Market Guide for Enterprise Business Process Analysis” for the second consecutive year. Over 750 companies, including global corporations such as Mitsubishi and Vodafone, hidden champions such as Osram, various Federal Ministries, universities and organizations from many other industries, trust GBTEC and its BPM suite.
GBTEC Group has offices in Bochum and Munich, Germany, as well as subsidiaries in Spain and Australia. With the integration of avedos, the companies will combine their joint potential and the strengths of their respective software solutions. The goal is to open the boundaries between GRC and business process management through the technical integration and complete long-term unification of the software. Both avedos and GBTEC want to integrate revolutionary technologies such as robotic process automation (RPA), artificial intelligence and process mining in the GRC software in the future and, therefore, create new, digital models for successful GRC management. Together with Main Capital Partners, the software investor backing the group, they will drive future growth through organic initiatives and further M&A opportunities in these key technologies.
“Especially in times of crisis, many companies are evaluating the advantages of digital business models and searching for new software to work more productively and efficiently,” Greinke explained. “Today, the digital transformation is becoming more and more relevant. We have been transforming the business processes of our clients for many years through digitalization that not only adds value for the company but the employees as well.”
“With the acquisition of avedos, we will continue to build on our strategic position for process and risk management,” he continued. “Almost all compliance and risk management vendors are sharpening their focus on processes. This development is why the merger of avedos and GBTEC makes perfect sense and delivers enormous value for our clients. As one of the European market leaders for risk management and GRC, avedos has excellent references, an outstanding reputation and an amazing team. Combining the process technologies and GRC knowledge of our companies will be a game-changer that fundamentally strengthens our competitive advantage.
“Through the integration in GBTEC, we are laying the foundation for continued, long-term growth in a corporate group specializing in business software,” added Brandstätter. This enables us to develop innovative GRC use cases that dramatically increase value in companies. The single view of GRC information – from governance to operational processes by eliminating data silos and integrating new technologies such as artificial intelligence or process mining enable completely new approaches for GRC. Today more than ever, the digitalization of GRC processes and the development of GRC maturity are on the agenda of innovative companies. These will profit from the merger, which will help avedos further build on its position as a European market leader.”
The software platform, risk2value from avedos, fulfills all GRC requirements in a flexible enterprise management system. One of the central goals is to link individual GRC information in a single management system that generates value by weighing risks and opportunities. This avoids and eliminates silos which inevitably lead to higher costs, more work and less transparency. As an active management system, risk2value supports the process of ongoing development and continual optimization to achieve operational excellence and business goals sustainably in times of uncertainty.
BIC Cloud GRC offers predefined workflows for a process-driven view of GRC management – from recording risks to implementing and controlling actions. The software is closely integrated with the established process management tool BIC Cloud Design for seamless and transparent processes throughout the company. One of the software’s special functions is that business risks and controls from the process modeling in BIC Cloud Design are immediately available as GRC workflows in BIC Cloud GRC. BIC Cloud GRC simplifies GRC management through intuitive dashboards, comprehensive workflow monitoring and personal to-do lists.
Get informed on the facts and latest trends in GRC – and stay tuned for upcoming events, webinars, podcast episodes or trainings.