October 22, 2008 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, today announced AMR Research has ranked MetricStream in the "sweet spot" category assigned to vendors that "Demonstrated high expertise through customer deployment, reference quality, and heritage" in its recent report "The Governance, Risk Management, and Compliance (GRC) Landscape, Part 2: Software’s Integral Role in GRC Automation" written by John Hagerty, Koppel Verma and Dennis Gaughan.
"We are pleased that MetricStream is highlighted in the AMR Research Report on the GRC Landscape", said Shellye Archambeau, CEO of MetricStream. "This recognition by AMR Research validates our long-standing business model of approaching the GRC market with a sustainable, cost effective software platform that provides our customers with centralized visibility into their GRC initiatives while supporting distributed ownership."
The AMR Research GRC Landscape Report stresses that the multiple yet conflicting GRC mandates within an enterprise are on the rise and it is important for companies to look to software automation for focused, effective results with their GRC initiatives. The report states "As companies’ GRC approaches mature, software plays an essential role in managing-not just reacting to-risk and compliance concerns in all corners of the enterprise." In addition to automation, the overriding trend in the market is to move towards GRC Platforms. AMR Research quotes, "While many buyers still evaluate GRC software tactically (and there may be solid reason to do so), there is ample evidence the elusive GRC platform approach is starting to take hold with forward-looking businesses in many industries." These findings are very consistent with MetricStream’s approach of providing an enterprise-wide software platform capable of delivering GRC and Quality Management solutions for organizations of varying sizes across diverse verticals. Additional key differentiators for MetricStream include its patented Enterprise Compliance Platform (ECP), ComplianceOnline portal and breadth of solutions.
John Hagerty, Vice President and Research Fellow at AMR Research, states in his report "The Governance, Risk Management, and Compliance Spending Report, 2008-2009: Inside the $32B GRC Market’ published on March 25, 2008, “By any measure, companies are spending more money on a broad set of GRC concerns. Budget increases for 2008 and 2009 reflect a growing realization that GRC has matured in many ways: the emergence of risk thinking, the development of new buying audiences for IT, and an overall link to strategy and performance management."
The AMR Research report puts forth a GRC Taxonomy that is useful to organizations looking to understand the various elements of a GRC strategy. According to the report, the GRC Taxonomy is categorized into GRC Management, GRC Execution and GRC Applications. MetricStream ranked strongly on all three parameters. More specifically, AMR Research ranked MetricStream as being in the "sweet spot" for all four aspects of GRC Management namely Risk & Control Framework, Risk Management Software, Dashboarding and Reporting, and Initiative-specific Content. Additionally, MetricStream’s industry focus on Energy, Healthcare, Life Sciences, Manufacturing, and Financial Services was mentioned in the report.
MetricStream is a 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 Procter & Gamble, UBS, Societe Generale, 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).