The client’s business units managed their risk and control management initiatives in independent silos. There was little collaboration and information-sharing between them. The Internal Control Group and the ERM Group needed to better coordinate their efforts to avoid multiple redundancies and complexities in risk management, and to improve operational efficiency.
Insufficient Visibility into Risk Management
Decision-makers needed to gain top-level visibility into ERM processes and metrics to develop a clear business strategy, and to mitigate risks effectively. However, the client’s existing systems did not offer them this kind of visibility.
High Costs, Cumbersome Risk Management Processes
Most risk management processes were executed manually. Employees had to spend a lot of time and effort painstakingly entering and calculating data on large, unwieldy spreadsheets. The process was time-consuming and required a lot of manpower and costs that could have otherwise been more valuably utilized elsewhere in the organization.
Integrative ERM Capabilities: The MetricStream ERM solution is built on a centralized, Web-based platform that scales across large organizations, integrating and harmonizing various risk management initiatives. Organizations are empowered to manage risks more efficiently and proactively, make informed strategic decisions, and improve business performance.
Simplicity of Use: Highly intuitive user interfaces and navigation features minimize the learning curve, and enable companies to adopt the MetricStream solution quickly. Users can easily monitor risks and controls, rapidly access contextual information, and intuitively visualize the relationships between processes, risks, controls, regulations and policies.
Innovative Features: The MetricStream solution provides a host of innovative capabilities such as powerful dashboards, heat maps, configurable forms, real-time exception tracking, reports, risk-control libraries, email alerts and notifications, business intelligence, analytics and secure access control - all built and deployed on the robust MetricStream GRC platform.
Market Leadership: MetricStream is widely regarded by leading analysts and industry experts as one of the market leaders in the GRC space. MetricStream solutions are widely deployed in leading manufacturing companies across the world.