Empower Your GRC Strategy by Unleashing the Potential of Low Code, No Code PlatformsTechnology | 4 Min Read |17 October 23|by Kiran Kumar Nakhate
The global risk landscape is evolving continuously, necessitating rapid changes to regulatory frameworks and standards and governance, risk, and compliance (GRC) functions. Enterprise GRC strategies need to be agile to adapt to these changes and ensure error-free compliance. However, traditional approaches to software and service delivery cannot deliver this agility. A low-code, no-code platform, built with visual interfaces and pre-built components that can be assembled to create functional applications, empowers organizations to quickly and easily customize GRC software to their requirements.
MetricStream’s low code, no code platform is focused on accelerating GRC program performance with a quicker, more secure, and personalized connected GRC experience. I spoke in-depth on the topic at the 2023 GRC Summit in Miami. Scroll down to check out the top takeaways from the session.
Watch Session: Product Session: Low Code, No Code
Built to Meet Business Needs
MetricStream’s updated low code, no code platform is designed to meet the specific business needs of the GRC community. The platform ensures higher agility by enabling easy tailoring of GRC applications in response to changes in the business environment. It reduces configuration time to facilitate accelerated application development. And it ensures quick adaptation to changing regulations for error-free compliance.
The latest updated platform allows customers to effortlessly customize our products by utilizing a user-friendly Domain Specific Language (DSL) for defining and crafting business rules. It also enables upgrade-safe changes.
Key Features of MetricStream’s Low Code, No Code Platform
The new and enhanced features within MetricStream’s low code, no code platform include:
- Business Rules, a domain-specific language to code declaratively on business validations in the forms. The single line or ‘low code’ expressions written for validations are applicable for the forms in the UI browser, and these are implicitly applied as ‘no-code’ to auto-generated business API (BAPI) or data upload components. This ‘Write-One-Execute-Many’ approach defines business rules in the forms and is executed in three different places – form UI, API integrations, and data uploads.
- Emery, a domain-specific language to code workflow processing logic in an abstracted representation and within the context of the form. This minimizes database processing in the Oracle database with Emery APIs or constructs with the definite boundary, which brings consistency in the code and predictability.
- Business API Frameworks for Inbound Integration: This feature is built to facilitate product-specific integration use cases. It provides business rule-based validations and is standards-compliant. The cloud-native architecture is scalable and flexible and allows for easy integration with chatbots, mobile apps, and other external systems, enabling easy sharing of data in a connected GRC ecosystem. It also ensures upgrade-safe APIs, which require minimal efforts to regenerate APIs after configuration.
- Content Service Integration Service for Outbound Integrations: This feature offers pre-configured connectors to interact with third-party endpoints to get the curated data. It offers configurable schedules so organizations can pull content on demand or based on a pre-determined schedule. It is built on a cloud-native, microservices-based architecture and is also upgrade-safe.
- Simplified Data Import and Export: This feature offers form-based data import templates in simple Excel format that is built on top of business rules and business APIs. Using this, organizations can import plain data, rich text format, and even attachments to any stage of the workflow. This feature ensures a better end-user experience and reduces the time taken for data import and export significantly.
- Configuration Utilities: This enables the faster extension of products by allowing changes to be made in a layer that is separate from the product metadata/code. As a result, product updates do not impact these configurations, and they are upgrade-safe.
- Cross Product and self-service reporting: This functionality enables organizations to build reports and visualizations using cross-product insights and self-service reporting capabilities. The new reporting framework includes a no-reporting development cycle, pre-bundled data sources, reporting tools, and BI tools APIs.
The Business Benefit
With MetricStream’s updated low code no code, platform, organizations benefit from:
- 50-60% reduction in the implementation effort and a similar reduction in the lines of codes needed to customize and configure the platform
- 10X faster, easier, and more secure configuration capabilities that are also upgrade-safe
- Reduced time from days to mere minutes to gain connected GRC insights
- Reduced risk and cost of regulatory change
- Accelerated and improved risk identification and mitigation by empowering the first line of defense with simplified risk assessments
Managing seamless GRC functions in a landscape marked by increasing risk and disruption is no mean feat. Organizations need a powerful GRC platform that can be easily customized to meet their requirements as well as modified to keep pace with changing regulations. MetricStream’s updated low code, no code platform offers greater scalability and flexibility and enables organizations to execute their connected GRC strategies faster, easier, and in a more secure manner.
Excited to learn more. Request a demo now!
Watch the full session: Product Session: Low Code, No Code