July 12, 2017 | Palo Alto, California: MetricStream, a market leader in Governance, Risk, and Compliance (GRC) apps and solutions, announced today that the company has been positioned in the “Leaders” Quadrant of the June 29, 2017 Gartner Magic Quadrant for IT Risk Management Solutions Report authored by Gartner analysts Khushbu Pratap, Jeffrey Wheatman, and Matthew Stamper.

Today, IT risk management is no longer restricted to just managing IT security risks, but also encompasses key areas such as cybersecurity, data security and privacy, and third party management. However, according to a 2017 MetricStream Research report which surveyed IT professionals in over 120 organizations across 20 industries, 58% of respondents revealed their organization’s IT risk management program is focused solely on information security risks and not on cybersecurity, privacy and third party related risks. Furthermore, 40% of respondents revealed that their organization has suffered financial, legal, and/or reputational impacts due to non-conformance with security-related regulations. Thus, IT risk management has become a key focus area for senior management and the board, due to its impact on financial performance and reputation.

MetricStream's IT Risk Management (ITRM) App enables high performing organizations to automate their IT risk management workflows, controls mapping, and regulatory reporting. By aggregating and contextualizing risk intelligence across IT systems, CIOs and CISOs are able to gain a comprehensive view of the organization’s IT risk, cybersecurity, and compliance posture and provide the board and key stakeholders with real-time insights. MetricStream’s GRC platform supports a truly collaborative approach to IT Risk Management that aligns with the organization’s broader risk and compliance objectives.

With MetricStream’s latest innovations in platform architecture through M7, its leading GRC cloud, and FastTrack implementation methodology, customers can accelerate time to value and simplify business processes. MetricStream believes that its continued focus on overall positive customer experience, time to value, and quality are reflected in the report.

"We are pleased to be positioned the furthest for Completeness of Vision in the Leaders quadrant of Gartner's 2017 Magic Quadrant for ITRM, amongst all vendors evaluated," said Gaurav Kapoor, Chief Operating Officer at MetricStream. He continued, “MetricStream has continued on its growth path as the leading independent GRC company in the world. We believe Gartner’s report strongly validates our continued innovation across all areas of IT risk management, as well as our global distribution, support, and R&D strategy to best serve our customers. Very importantly, we feel the report speaks to the positive MetricStream customer experience. As IT Risk Management becomes further integrated with organizational risk and compliance programs, business, IT and security leaders are partnering with MetricStream to gain an aggregated and real-time view into areas of risk and opportunity. MetricStream’s simple, pervasive, and cloud-based approach to GRC supports decision-making, protects brand and reputation, and drives superior business performance.”

To access a complimentary copy of the Gartner Magic Quadrant for IT Risk Management Solutions Report, please click here.

About the Magic Quadrant

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About MetricStream

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. MetricStream apps and software solutions improve business performance by strengthening risk management, corporate governance, regulatory compliance, audit management, vendor governance, and quality management for organizations across industries, including banking and financial services, health care, life sciences, energy and utilities, consumer brands, government, technology, and manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India, and sales and operations support in 12 other cities globally.(www.metricstream.com).

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