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Utilities Industry

Gain a Connected View of Risk and Compliance to Strengthen Resilience

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Utilities Industry

Measure Your Program Outcomes

 
Reduction in time
  • 90%
  • reduction in the time taken to manage compliance activities

 
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  • 50%
  • saving of time and costs for third-party risk assessments and identifying risks

 
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  • 67%
  • improvement in risk reporting visibility and efficiency for the executive management and board

 
Source: Based on MetricStream customer responses and GRC Journey Business Value Calculator
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Strengthen Business Resilience with an Integrated Approach to Governance, Risk, and Compliance

The utilities industry faces rapidly evolving risks and regulatory compliance requirements from the likes of FERC, NERC, and EPA as well as state and regional public service commissions combined with cross-industry regulations. Amplified digital transformation efforts to improve customer experience and business performance increase risk exposure exponentially. MetricStream GRC solutions for the utilities industry provide an integrated risk, compliance, and audit framework, enabling organizations to reduce cost and drive business value and growth. They help mitigate enterprise risks, improve the efficiency of regulatory compliance programs, optimize audits, strengthen cyber risk program, and adopt effective environmental, social, and governance (ESG) program across their value chain.

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How MetricStream Software Solutions Help You

CyberGRC MSI 2
Adopt a Proactive Cyber Risk Resilience Program

Accelerate digital transformation efforts while enhancing cyber risk management program. Proactively foresee and mitigate IT and cyber risks, threats, and vulnerabilities. With MetricStream CyberGRC, effectively adopt best practices and industry frameworks such as ISO 27001, NIST CSF, and NIST SP800-53 to strengthen cyber resilience. Easily aggregate and integrate data on IT risks, cyber risks, threats, vulnerabilities, and third-party risks to effectively assess and mitigate risks while ensuring compliance with industry standards.

BusinessGRC MSI 3
Enhance Enterprise Risk Management

Gain a real-time and 360-degree view of risk posture for making better-informed decisions. With MetricStream Enterprise and Operational Risk Management, adopt an integrated approach to risk management by standardizing risk taxonomies, eliminating siloed risk processes, and facilitating harmonization and aggregation across different teams. Automate and optimize the risk management lifecycle and gain real-time aggregated visibility of risks to easily navigate the rapidly evolving risk landscape.

Energy Industry
Improve ESG Performance

Set up a centralized library and risk framework to document and manage ESG risks and related details with MetricStream ESGRC. Easily define and manage ESG standards, frameworks, and disclosure requirements, including climate-related guidelines set by the Sustainability Accounting Standards Board (SASB) and the Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD). Link standards to organizational entities and automate the collection and aggregation of data with real-time analytics and dashboards.

CyberGRC MSI 2
Minimize Exposure to Third-Party Risk

Gain visibility into the third-party ecosystem and prevent disruptions and vulnerabilities by effectively managing supplier risks and performance. With MetricStream Third-Party Risk Management, quickly identify critical suppliers and maintain a reliable pool of suppliers for each product or service category by aggregating and mapping supplier and sub-supplier data and performing thorough assessments and audits. Leverage quick and comprehensive insights into the supply chain through powerful reports and dashboards.

How MetricStream Benefits Your Business

  • Gain real-time visibility across cyber risks through risk quantification and contextual risk information from across the enterprise
  • Establish a strong risk management and data governance program with real-time monitoring of risks
  • View extensive metrics on the organization’s current ESG score and strategize next steps
  • Enhance efficiency by correlating vulnerabilities with IT assets, and prioritizing remediation efforts based on the areas of highest criticality
BUSINESS VALUE CALCULATOR

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