Introduction
Our connected world has opened a wide range of fresh and compelling opportunities for businesses to thrive. It has accelerated digitization and enabled the extension of the enterprise. But it has also ushered in an era of diverse, multi-dimensional risks for businesses. Cyber threats are growing faster than ever. As per the World Economic Forum’s 2022 Global Risks Report, malware and ransomware attacks have increased by 358% and 435% respectively. Geopolitical uncertainty continues to be a key risk factor affecting business operations and performance, with the repercussions often leading to supply chain disruptions and regulation cross-fire. Added to this is the rapidly changing regulatory landscape. A study by the Boston Consulting Group found the number of regulatory changes relevant to the financial industry had tripled during the last decade. There is also the new worldwide mandate for business to operate with purpose, driven by consumers, investors, and regulators taking an increased interest in the environmental, social, and governance (ESG) metrics of an organization.
As organizations seek new ways to build resilience, a connected governance, risk, and compliance (GRC) strategy is clearly the way forward. And this is exactly the approach that we have taken with our latest software release. MetricStream’s Danube software release is packed with exciting new innovations—all of which are built to help you take your connected GRC approach to the next level.
Learn more about the Danube software release. Read What’s New in Danube Software Release.
Danube Release Innovations: Built to Empower Your GRC Journey
Building upon our previous releases, the Danube release brings exciting new features, capabilities, and product-specific innovations to our BusinessGRC, CyberGRC, and ESGRC product lines and to the MetricStream platform—all with the aim to help businesses thrive on risk in our increasingly volatile world.
Here’s a quick look at the key innovations you should make note of.
Trending in BusinessGRC
- Advanced Risk Quantification and Simulation for ERM and ORM
Managing enterprise or operational risk just got a lot simpler! You no longer have to view risks as red, yellow, and green and then struggle to communicate the risk to key decision makers. Our Advanced Risk Quantification and Simulation, which was made available for our CyberGRC product line during the last Colorado release is now available for Enterprise Risk Management (ERM) and Operational Risk Management (ORM). With the Danube release, you can now trigger Monte Carlo simulations to generate a range-based estimate and predict the probability of different outcomes for Annual Loss Expectancy.
- How Does it Help You?
- Express loss exposure in monetary terms by associating with a common financial value
- Improve the accuracy of quantification with a wide range of factors (e.g., Mix, Max, Most Likely, and confidence levels)
- Easily communicate each risk and make better informed decisions
- Dun & Bradstreet Integration for Financial Risk Assessment
It’s yet another step to protect the extended enterprise! It’s now possible to determine financial risk assessment while conducting onboarding due diligence for your vendors and third-party suppliers. Make use of our integration with Dun & Bradstreet (D&B) to track the financial health of third parties in real time.
- How Does it Help You?
- Access applicable financial records of your vendors
- Review relevant risk intelligence in real-time
- Select DUNS number directly from the D&B platform
Check out our other BusinessGRC innovations in Business, Continuity Management, Policy Management, Regulatory Change, and Regulatory Engagement. Read more on What’s New in Danube.
Trending Now in CyberGRC
- Continuous Control Monitoring for Cloud Environments
You can now add another layer to your IT and Cyber Risk management process! Continuous Control Monitoring (CCM) is now available with the Danube software release for cloud environments. By tracking controls, creating reports, collecting evidence, and sending out automated alerts to relevant stakeholders, CCM helps in operationalizing the overall cyber risk management effort.
- How Does it Help You?
- Gain the ability to scale and deal with rising cyber risks
- Reduce cycle time and compliance costs
- Rationalize controls more effectively
- Built-In Regulatory Content
IT and Cyber Compliance management is now a whole lot easier! The Danube release now has 900+ regulatory content and industry standards such as NIST CSF, SOC, CMMC, ISO 27001, etc., included in the out-of-the-box product.
- How Does it Help You?
- Harmonize the mapping of controls with the ‘test once, comply with many’ approach
- Reduce the time required to implement controls
- Accelerate adoption of chosen industry standards and frameworks
Explore our other CyberGRC innovations in IT and Cyber Risk and Compliance management. Check out What’s New in Danube.
Trending Now in ESGRC
- Simplified Disclosure of Climate-Related Financial Risks
Disclosing mandatory climate-related financial risks is now more streamlined! Disclose climate-related financial risks through the Taskforce on Climate-related Financial Disclosures (TCFD) framework which enables the automatic capture of data on a broad range of metrics required for ESG financial risk disclosures and simplifies its management in a centralized portal.
- EcoVadis Info Center Integration
Bid adieu to greenwashing! With the EcoVadis Info Center integration now part of the Danube software release, you can easily discover if your third-party suppliers are following sustainable practices. Get to know the organization’s EcoVadis overall score (0-100) and make smart business decisions.
- How Does it Help You?
- Get business sustainability ratings for third-party suppliers
- Choose suppliers based on a healthy EcoVadis score
- Ensure your sustainability standards are maintained throughout your extended enterprise
Take a look at the other innovations that the Danube software release brings to ESGRC. Read What’s New in Danube.
Trending Now in MetricStream Platform
- Self-Service Reporting Framework
You no longer have to reach out to the implementation team to create new reports! With the Danube software release, you can now use the Cross-Product Insights and the Declarative Data Authorization Framework to register the data model and data security for all MetricStream products and solutions.
- How Does it Help You?
- Provide end user self-service reporting capabilities
- Create your own reports and charts
Excited to know more about how the new innovations in MetricStream’s Danube software release can help you on your connected GRC journey? Request a personalized demo now.
