SAS, a vendor of business analytics software and services, has been placed in the Leaders quadrant of the Magic Quadrant for Operational Risk Management Software for Financial Services by Gartner (News - Alert).

Just so it's all clear, Gartner officials say they do not endorse any vendor, product or service depicted in the Magic Quadrant, and don't advise technology users to select only those vendors placed in the “Leaders” quadrant. Company officials say it's intended "solely as a research tool, and is not meant to be a specific guide to action."

According to the report, the Leaders quadrant “tends to be occupied by vendors with software applications that are addressing qualitative as well as quantitative aspects of risk management of ORM." These vendors have, in Gartner's eyes, achieved a certain level of market acceptance and "enable a consistent view of operational risk across the organization as compared to separately designed and implemented risk calculation engines or audit, control and compliance reporting tools."

In other words, Gartner thinks such vendors approach operational risk "more comprehensively and holistically" across the enterprise and link operational risk to CPM. 

David Rogers, SAS (News - Alert) Global Product Marketing Manager for Risk, said SAS "understands that customers need an overall enterprise-wide product to address different types of risks including operational, regulatory and market.”

SAS OpRisk Management is a product built on the SAS Business Analytics Framework, a blend of data integration, analytics and reporting capabilities, and billed as a tool to help institutions "optimize capital allocation while mitigating risks in all areas of their organizations."

Last month TMC reported that SAS launched software to "fight fraud and also to better understand customer sentiment."

The Cary, North Carolina vendor's Social Network Analysis and social media analysis product will help organizations "uncover hidden relationships between individuals and data, detect patterns and trends; and mine text and other unstructured data."