January 10, 2008 | Redwood Shores, California - MetricStream, Inc., a market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, today announced that it has been cited as a 'Leader' in the recent published report Forrester WaveT: Enterprise Governance, Risk and Compliance Platforms 2007. MetricStream was among the select companies that Forrester invited to participate in its report The Forrester WaveT: Enterprise Governance, Risk and Compliance Platforms, Q4 2007.
Forrester developed a comprehensive set of approximately 100 evaluation criteria against which to evaluate the leading enterprise GRC platforms. In addition to market presence and client feedback, the companies were evaluated on a range of capabilities that span multiple enterprise GRC areas including many risk areas such as strategic, operational and IT risks as well as regulatory and operational compliance areas such as quality management, health and safety, financial assurance and corporate governance.
"We are very happy being recognized as a leader in the Forrester WaveT report on Enterprise GRC Platforms. It demonstrates our success and commitment towards enabling our customers in building better governed and more resilient enterprises," said Shellye Archambeau, CEO of MetricStream.
The report notes that "MetricStream demonstrated one of the most flexible GRC platforms evaluated". Further, the report says that "MetricStream has developed strong capabilities in all core areas required of the GRC function - policy and procedure management, risk and control management, loss and investigations management and GRC analytics."
MetricStream's versatile Enterprise Compliance Platform technology uniquely addresses a variety of risk scenarios across verticals ranging from Strategic and Enterprise Risk Management to a growing range of industry-specific operational risk issues such as Pharmacovigilance in the life sciences industry, Safety risks in the food and beverage industry, Product Quality risks in the manufacturing industry, FERC/NERC compliance in the energy and utility industry and Financial Risks in banking.
In evaluating Corporate Governance capabilities, the report places emphasis on board/entity management, serving the role of the corporate secretary, managing the corporate reporting/filing processes, audit management and dashboarding GRC at a level appropriate to executives and the board. MetricStream has been listed as a strong performer in this area. Support for training programs and delivery of regulatory content set MetricStream prominently apart from the other players in the market, according to the report. "A key differentiator is its operation of ComplianceOnline.com, a GRC community portal that offers visitors access to information, best practices, training and products", notes the report.
"Whereas GRC approaches of the past have been function-specific and isolated from other areas of the organization, companies are increasingly looking for a federated approach to manage their Corporate Governance initiatives, Enterprise and Operational Risk, Regulatory and Industry Compliance that spans the entire enterprise," said Gaurav Kapoor CFO and General Manager of MetricStream. "A federated and flexible GRC architecture built on MetricStream's technology and content infrastructure is designed for such environments. It gives stakeholders access to the critical information needed to run vital business operations while meeting corporate governance, risk management, regulatory and operational compliance objectives."
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).