Lumigent Selected as a Red Herring Top 100 North America Tech Startup
Lumigent Technologies, Inc., the GRC application controls monitoring company, today announced that it has been chosen by Red Herring as one of the Red Herring Top 100 North America winners.


ACTON, MA, July 09, 2010 /24-7PressRelease/ -- Lumigent Technologies, Inc., the GRC application controls monitoring company, today announced that it has been chosen by Red Herring as one of the Red Herring Top 100 North America winners. The award recognizes leading private companies from North America and celebrates startup innovations and technologies across their respective industries.

"Red Herring's recognition further validates Lumigent's vision to deliver the most comprehensive, multi-application compliance automation solution that can be deployed in only two weeks," said Jay Muelhoefer, vice president of marketing at Lumigent. "We are at the forefront of empowering business owners to improve the integrity of key cross-ERP business processes such as financial reporting, order-to-cash, and procure-to-pay. Lumigent appreciates the recognition of the benefits our customers are achieving with continuous application controls monitoring, such as reductions in errors, fraud, and business risk as well as dramatic reductions in audit and compliance costs."

Red Herring's Top 100 North America list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring editors were among the first to recognize that companies such as Facebook, Twitter, Google, Yahoo!, Skype, Salesforce.com, YouTube and eBay would change the way we live and work.

"Choosing the companies with the strongest potential was by no means a small feat," said Alex Vieux, publisher and CEO of Red Herring. "After rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across North America to the Top 100 Winners. We believe Lumigent Technologies embodies the vision, drive and innovation that define a successful entrepreneurial venture. Lumigent should be proud of its accomplishment, as the competition was very strong."

Red Herring's editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technology innovation, management quality, strategy, and market penetration. This assessment of potential is complemented by a review of the track record and standing of startups relative to their sector peers, allowing Red Herring to see past the "buzz" and make the list a valuable instrument of discovery and advocacy for the most promising new business models in North America.

For more information on Lumigent, visit www.lumigent.com and the Lumigent blog at http://www.lumigent.com/blog/. Follow Lumigent on Twitter at @Lumigent or Facebook at http://www.facebook.com/Lumigent.

Resources

Lumigent website: http://www.lumigent.com
Lumigent blog: http://www.lumigent.com/blog/
Lumigent on Twitter: http://www.twitter.com/Lumigent
Lumigent on Facebook: http://www.facebook.com/Lumigent
Lumigent press releases: http://www.lumigent.com/news_events/press_releases.html
Lumigent executive commentaries: http://www.lumigent.com/news_events/executive_commentaries.html

About Lumigent

Lumigent mitigates business risk, monitors for errors and fraud, and reduces the total cost of compliance by ensuring the integrity of application controls and data that drive critical business processes such as financial reporting, order-to-cash, and procure-to-pay. Lumigent's AppGRC is an off-the-shelf business application optimized for the needs of Finance, Audit/Compliance, and IT that continuously monitors hundreds of key application controls and data that span multiple ERP systems. Lumigent has over 500 customers, including over half of the Fortune 100. Lumigent has been in business for over 10 years and is headquartered in Acton, MA. For more information, please visit www.lumigent.com.

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