BROOKLYN, NY -- (MARKET WIRE) -- 06/15/09 -- Colosa's open source business process management (BPM) software, ProcessMaker (http://www.processmaker.com), has been selected by Global Risk Partners to automate Workflow and processes behind one of its insurance risk management products, the Global Risk Art Survey Platform (GRASP).

Global Risk Partners conducts insurance risk surveys and assessments for institutions and organizations across the globe including fine art facilities, museums, insurance companies and underwriters. The company's consultants evaluate fine art storage, handling standards and procedures onsite, in museums, in transit, and in storage.

GRASP is a detailed risk assessment that evaluates and assesses more than 1,000 parameters. The platform has been developed by Global Risk Partners in partnership with leading worldwide art insurance firm, AXA Art.

Before ProcessMaker, Global Risk Partners' consultants manually entered survey data into a Microsoft Excel spreadsheet to carry out the complex risk analysis, a time-consuming process. With the workflow and process management capabilities of Colosa's ProcessMaker to support GRASP, the survey process and risk calculation is streamlined and automated, saving time and effort.

Now, with a handheld device, consultants complete the survey forms directly into ProcessMaker onsite and online. ProcessMaker automatically generates relevant survey reports on the GRASP platform, available securely to authorized GRASP subscribers.

ProcessMaker provides Global Risk Partners with real-time risk calculation, question branching during the survey and score breakdowns that enhance the accuracy of risk calculations. As well as vastly increased efficiency and accuracy, the intuitive interface of ProcessMaker greatly reduces surveyor training times.

"Before we started using ProcessMaker, filling out the surveys to calculate risk was labor-intensive," said Dave Erchull, Vice President for Global Risk Partners and primary developer of the risk survey methodology for fine art. "Now, it's as simple as opening up a web browser. Because processes, including report generation, have been automated, risk analysis is faster, easier, and more accurate too. We plan on expanding our operations, and ProcessMaker will allow us to do so much more rapidly."


Brian Reale, CEO of Colosa, said, "The complexity of the Global Risk Partners' survey, and its need for consultants to be able to fill in surveys onsite, provide an impressive demonstration of ProcessMaker's ability to handle workflow, and to be flexible to meet individual needs. Global Risk Partners has benefited greatly from the software already, and we look forward to playing a key part in Global Risk Partners' future growth."

About Global Risk Partners

www.global-risk.com

About Colosa/ProcessMaker

Colosa is a developer of software solutions that enable companies to automate approval based workflow processes by interconnecting people and systems seamlessly across the organization.

The company's flagship product, ProcessMaker® (www.processmaker.com) is available as a free open source application. Enterprise clients can purchase ProcessMaker's Enterprise support plan which includes SLAs, IP indemnification, upgrade support and more.

ProcessMaker is an AJAX enabled, SOA, web-based application that allows users across single and multiple sites to create and share workflows, create custom forms, route processes, and improve management control. ProcessMaker OSS is available for download at http://sourceforge.net/projects/processmaker/ and more information is available at www.processmaker.com.

Colosa was founded in 2000 and has customers in local and central government, telecom, oil & gas, insurance, banking, and other industries. Colosa has offices in Brooklyn, NY; La Paz, Bolivia; and Lima, Peru.

For more information visit www.processmaker.com

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Contact information: Prompt Communications on behalf of Colosa Hazel Butters or James Gerber US: 617-576 5763 / 617-291 9899 UK: +44 (0) 20 8996 1653 / +44 (0) 7780 687813 Email Contact