By using this site you agree to our use of cookies. Please refer to our privacy policy for more information.Close
   

March 1, 2018 | Palo Alto, California: MetricStream, the market leader in Governance, Risk, and Compliance (GRC) Apps, today announced that the company has been recognized as a Strong Performer by Forrester Research Inc. in “The Forrester Wave™: Supplier Risk And Performance Management Platforms, Q1 2018” report authored by Duncan Jones, Christopher Andrews, Sara Sjoblom, and Andrew Reese.

According to the report, “MetricStream has a strong SRPM solution built on its GRC platform. It was the first GRC vendor to build a dedicated SRPM product and continues to be the one that best addresses the fundamentally different nature of assessing third parties, as opposed to internal departments. For instance, MetricStream has good support for performance assessment, both objective and subjective, including corrective action plans for underperforming suppliers. SRPM remains an innovation priority for MetricStream, and it has ambitious plans to expand its sources of risk intelligence and use of AI to analyze them.”

Organizations are rapidly expanding their supply chains to gain major cost advantage and market share, which has resulted in a decentralized supplier base. Today, supply chains are more vulnerable than ever to various types of disruptions caused by uncertain economic cycles, evolving consumer demands, and natural and man-made disasters. As such, organizations face increased risks to business operations as well as continuity around manufacturing and service delivery operations. MetricStream partners with the world’s leading and most trusted organizations to build strong supplier risk and performance management programs in line with corporate social responsibility initiatives, to further strengthen the protections for their customers and society at large.

According to the report, “SRPM is vital to meet customers’ rising expectations” and continued, “..these tools orchestrate and streamline supplier management activities such as risk assessment and performance monitoring.” That is vital for modern AD&D leaders because “manual, spreadsheet-based processes impair your ability to innovate. They make engaging with new vendors and emerging technologies too slow and difficult. There are too many risks to manage, too much data to process and too many assessments to document. Good suppliers will become frustrated by the effort involved — and may even back out of the onboarding process. Business colleagues will bypass the governance, creating all sorts of risks for the organization, such as finding too late that you are working with an unsafe or unreliable supplier. Siloed risk management processes are expensive and ineffective. Without a single platform to aggregate all the available information about suppliers, procurement, finance, security, and compliance will each develop their own discrete application. The AD&D leader will face the challenge of integrating them. Significant risks will fall through the gap between the discrete validation activities.”

MetricStream received the highest score possible in the risk monitoring capability, which the company believes reflects its focus on equipping and empowering a growing customer base with an industry leading supplier risk and performance management solution through its latest release, M7.

"We are proud to be cited as a strong performer in supplier risk and performance management platforms (SRPM) by Forrester Research," said Mikael Hagstroem, CEO of MetricStream. He continued, “We believe this report further underscores the importance of taking an integrated approach across all enterprise risks, including those from suppliers, which MetricStream’s GRC platform and apps provide. My commitment to our clients is to help strengthen their corporate social responsibility initiatives in line with their values and to drive sound risk management, innovation, and profitability across the supply chain. We acknowledge the important role that our clients play in shaping our solutions, and looking ahead, we remain committed to delivering far-reaching impact and value by continuing to innovate and improve the user experience through the application of machine learning and risk intelligence.”

To access the report, please click here.

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

Press contact

Sonia Sharma : pr@metricstream.com | India: +91 98450-19197

Download the online press kit

Request a demo Download RFP Template Pricing Contact