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Press Release
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iRise Named “Cool Vendor” by Leading Analyst Firm
Vendor Selection Based on How Innovative, Impactful and Intriguing They Are
EL SEGUNDO, Calif. –— May 10, 2005 — iRise®, the world's leading application definition software and services company, has been included in the list of “Cool Vendors” in the "Cool Vendors in Application Development, 2005" a report published March 30, by Matt Light of Gartner, Inc.. The report states that this year’s seven cool vendors provide innovative tools supporting quality application development from requirements definition through collaborative activities, testing and maintenance.
“Building mission-critical business applications without the use of sophisticated, collaborative simulation software would be like building a new jetliner without the use of a flight simulator,” said Emmet B. Keefe III, chief executive officer of iRise “The stakes are simply too high to roll a gleaming new project out onto the runway or corporate enterprise without having thoroughly tested and re-tested every aspect and requirement of it in simulation. We are honored to be named a ‘Cool Vendor’ by Gartner, and are committed to helping keep our clients’ projects flying.”
The iRise application simulation platform is the world’s first enterprise software platform to cut rework costs, accelerate time to market and reduce the risks associated with global development on mission-critical business systems initiatives. Historically organizations across industries have relied on text-based requirements during the application definition process, often resulting in failed or stalled projects due to miscommunication and inaccurate interpretation. For the first time, business analysts, IT managers and business stakeholders can validate application requirements from a visually accurate, functionally rich simulation early in the process to ensure that they build the right application the first time. iRise is currently in use at over 50 Fortune 1,000 companies across the world.
About Gartner's Cool Vendors Selection Process
Gartner's listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose.
Gartner defines a cool vendor as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn't do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner's interest or curiosity in approximately the past six months.
About iRise
iRise® is dedicated to bridging the communication gap between business and IT by improving the process of defining software. Global corporations like Agilent, CNA, CSAA, Health Net, Sprint, SunTrust and Wachovia use its market leading application definition platform to get requirements right - the first time. iRise application simulations cut rework costs, accelerate time to market and reduce the risks associated with global development on mission-critical business systems initiatives. Unlike text-based requirements, visual iRise simulations are unambiguous and enforceable specifications that ensure the needs of the business are clearly understood and met. iRise simulations can be built by business experts and used in a collaborative global model to quickly iterate on stakeholder requirements with business people, dramatically improving project success. Headquartered in El Segundo, Calif., iRise is backed by Morgan Stanley Venture Partners and has sales offices across North America.
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