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August 18, 2009 | Palo Alto, California: MetricStream Inc., today announced that it has been positioned in the Leaders Quadrant of Gartner's recently released " Magic Quadrant for Enterprise Governance, Risk and Compliance (GRC) Platforms "1 research report.
"We consider our positioning in the "Leaders" quadrant by Gartner as validation of our commitment and ability to enable customers to adopt an integrated, enterprise-wide approach to GRC. Consolidating programs for Internal Audit, Risk Management, Regulatory Compliance, Policy & Ethics, Financial Controls and IT Governance is critical for large corporations as it unlocks the power of collaboration and information sharing resulting in significant improvement in business performance," said Shellye Archambeau, CEO of MetricStream. "MetricStream continues to innovate and deliver a platform that is highly configurable to addressing specific customer needs."
Most industries face GRC challenges that are unique to their business operations. Whether it is Risk Management, Audits, Compliance, Policy Management or Quality Management - different industries have certain common requirements and some requirements that are specific to the sector. For example, energy & utility companies have to manage federal and state requirements including FERC & NERC compliance; global banks & financial service providers have specific requirements around operational risk, Basel II, loss management, RCSA & KRIs; insurance companies face Solvency, HIPAA compliance and other federal & state regulations; life sciences & healthcare companies have mandates such as FDA compliance, patient safety laws; retail, food & beverage companies have to comply with food safety and HACCP compliance requirements. All these are in addition to internal business processes around risk, internal audit, IT, corporate policies, ethics and quality management. Bringing these elements of GRC together and integrating them with performance management is critical and yet challenging for enterprises.
"We have built a strong reputation for working with global corporations and delivering GRC solutions with collaboration, workflows and reporting tailored to their environments," says Gaurav Kapoor, CFO and General Manager at MetricStream. "MetricStream understands exactly how to address these varying needs by providing highly packaged solutions yet adapting to specific industry requirements with the right software functionality as well as community and content from its ComplianceOnline.com portal. That continues to be our key differentiator and is well-aligned with the market demand."
Having deep experience in quality management solutions (QMS) with a number of successful implementations for corrective actions, supplier quality, defect tracking and failure investigation MetricStream uniquely understands the GRC environment and requirements of companies with multi-site manufacturing operations. Managing areas such as supply chain risks, Environment, Health & Safety (EHS), operational compliance and quality & safety audits require a strong process orientation, domain expertise and a scalable software platform that MetricStream provides.
1. Gartner, Inc. "Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms" by French Caldwell, Tom Eid and Carsten Casper, August 12, 2009
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, NASDAQ, UBS, SanDisk, BP, Subway, Fairchild Semiconductor, Hitachi and TaylorMade-Adidas Golf in diverse industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.
About the Magic Quadrant
The Magic Quadrant is copyrighted 2009 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.