July 15, 2010 | Palo Alto, California: MetricStream Inc., the market leader in Governance, Risk and Compliance (GRC) solutions, today announced the availability of MetricStream GRC Platform 6. The release breaks new ground along three dimensions: it delivers the user experience required for success of GRC applications in large scale deployments, it enables rapid and cost-effective configuration of GRC applications and it provides an analytics infrastructure that links GRC with business performance.
Taking User Experience Management to the Next Level
MetricStream GRC Platform 6 introduces a new level of simplicity and ease-of-use to enable successful adoption of GRC applications among users across the enterprise. The platform has been designed to provide an engaging and rich user interface, with major emphasis on intuitive and value-added information presentation for both - frequent and heavy users like the Auditors and Risk and Compliance Program Managers as well as for light users and business users like auditees and functional managers responsible for specific controls.
“MetricStream GRC applications are being rolled-out to tens of thousands of employees across our customers’ organizations indicating increasing involvement of functional staff and business line managers in risk and compliance programs,” said Vidya Phalke, CTO at MetricStream. “In response to this trend, MetricStream made user experience management as a strategic focus for this release.” Many innovative Web 2.0 concepts have been implemented to provide improved visual appeal and intuitive navigation. This includes redesigned user portals, simplified layouts, visual controls, interactive icons, multi-level tabs, expandable and collapsible menus, collaboration gadgets, one-click access to task assignments, selective refresh and enhanced personalization.
A new GRC data browser introduces flexible and multi-dimensional tree-based data navigation for objects such regulations, policies, functions, processes, risks, controls, audit programs, control activities and audit tasks. It significantly simplifies visualization of complex relationships between such objects enabling users to quickly access information at any level of granularity in the hierarchy.
Reducing TCO with Application Studio
With this release, MetricStream also ships an integrated Application Studio - a suite of high-level application building blocks, developer tools, system utilities and component libraries for application development, configuration, deployment and maintenance. The Application Studio aims to reduce application configuration time by 50%, enable partners to deliver solutions on MetricStream GRC Platform and empower customers' IT departments to be self-reliant in extending the MetricStream GRC Platform to meet their specific needs. It provides a visual environment with web-based drag-and-drop tools for defining workflows and information routing, forms, business reporting and the underlying business logic that controls the interactions between various elements.
“MetricStream is regarded as the most flexible GRC Platform in the market offering rapid configurability to deliver solutions specific to customers’ environment,” says Phalke. “With Application Studio, we are once again raising the bar significantly as it will transform MetricStream GRC Platform into a dynamic, flexible service, while dramatically lowering costs.”
Linking GRC with Business Performance
To enable performance management and decision making through business intelligence and analytics based on GRC, the reporting infrastructure is now based on a Smart Grids framework that can be dynamically configured based on the type of data being reported and allows run-time conversion of reports into visual representations like bubble charts, meter charts and radar charts for visualization of complex risk and compliance data. This capability is designed to generate insights that business line managers can use to identify risks as well as opportunities in their day-to-day operations.
The new release also delivers higher reliability and scalability through critical upgrades to the technology stack, particularly with distributed computing and clustering enhancements architected for large-scale deployment in global corporations.
MetricStream is the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream’s customers include UBS, Société Générale, Pﬁzer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, and NetApp. MetricStream also owns and operates the www.ComplianceOnline.com portal - the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).