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iRise Views House Resolution on Modeling & Simulation as Leading Indicator of Market Opportunity
Recognition as "National Critical Technology" points to potential global economic impact of simulation solutions
EL SEGUNDO, Calif. – Nov. 19, 2007 – iRise®, the world’s leading application definition software company, today announced that the U.S. House of Representatives has acknowledged the importance and value of modeling and simulation by passing a Resolution that recognizes it as a National Critical Technology. House Resolution 487, sponsored by Representative J. Randy Forbes of Virginia, chairman of the House Modeling and Simulation (M&S) caucus, also commends the contribution of modeling and simulation technology to the security and prosperity of the United States.
Specifically, this bi-partisan Resolution:
- Formally recognizes the contribution of M&S technology to the security and prosperity of the United States
- Recognizes M&S as a National Critical Technology
- Acknowledges the significant impacts of M&S on a breadth of fields including defense, space, national disaster response, medicine, transportation and construction
- Urges Congress to continue to place emphasis on math and science as key disciplines in elementary and secondary education, and encourages the expansion of modeling and simulation within higher education
- Affirms the need to study the national economic impact of this important industry
"Modeling and simulation has been responsible for the progressive developments in healthcare, homeland security, construction and transportation. Members of the M&S community come from diverse backgrounds such as psychology, medicine, computer science, mathematics, engineering and physics. Many of the technologies are universally applicable and may be used in multiple fields, including visualization tools, analytical tools, knowledge management and behavioral representations. In addition, M&S provides lower-cost opportunities for joint training and development of operational plans and assessments in dangerous situations, such as warfighting or national disasters."
"It is truly satisfying to see the U.S. government acknowledge modeling and simulation solutions," said Maurice Martin, president, chief operating officer and founder. "More than five years ago, iRise saw opportunity in the proven success of simulation in other industries such as aerospace and automotive. Those industries leveraged it to disrupt existing design and manufacturing processes and delivered break-through advances in time to market, cost reduction, and innovation. Our solution enables the same breakthroughs in software development. We invented application simulation to solve the chronic communication problems between customers, business and IT, which have been the root cause of failed projects and missed business opportunities. Every year our growing list of Fortune® 1000 customers confirms that it just makes business sense to visualize and simulate business applications before they're built. With $500B spent annually globally on software technology and services and our customers reporting 30% savings in cost and time to market, we believe that simulating software first will have a dramatic global economic impact over the coming years."
To watch customers share other compelling metrics of iRise business value delivered, go to: www.irise.com/news/event_content/fusion07/fusion07_content.php
To find out more about the legislation and the role of simulation in industry, go to:
- Library of Congress: thomas.loc.gov/cgi-bin/query/z?c110:hres487:
- Voting on Resolution: www.govtrack.us/congress/bill.xpd?bill=hr110-487
- Congressman J. Randy Forbes' site: forbes.house.gov/News/DocumentSingle.aspx?DocumentID=69369
- iRise blog: www.irise.com/blog/index.php/2007/10/08/national-mandate-for-modeling-and-simulation/
iRise® is dedicated to bridging the communication gap between customers, business and IT by improving the process of defining software. Over 100 corporations such as Wachovia, SunTrust Bank, Sprint/Nextel and CompuCredit use the iRise application definition platform to get business and IT on the same page – the first time. Visual, interactive application simulations accelerate the delivery of innovative business applications, cut IT costs and reduce the risks associated with outsourced development. Headquartered in El Segundo, Calif., iRise is backed by Morgan Stanley Venture Partners and has sales offices across North America.
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iRise is a registered trademark of iRise. All other companies and products mentioned are trademarks and property of their respective owners.
