The citation validates the completeness of the MetricStream solution offering and market potential
March 18, 2020 | Palo Alto, California: MetricStream, a market leader in governance, risk, and compliance (GRC) apps and solutions, today announced that the company has been recognized as a Category Leader in the Chartis Research RiskTech Quadrant® for six out of seven solution quadrants, namely: enterprise GRC, operational and conduct risk management, internal audit management, third-party risk management, IT risk management, and GRC analytics. Chartis Research’s evaluation was based on completeness of offering and market potential.
“We’re delighted to be recognized as a dominant leader in several of their categories of the RiskTech Quadrant® including the Enterprise GRC Platform category,” says Gaurav Kapoor, COO and of the Office of the CEO, MetricStream. “It’s a strong validation of our commitment to delivering world-class GRC solutions on a truly integrated platform.”
According to the Chartis report, “Several technology developments are helping to shape the GRC landscape...FIs are also continuing to automate their GRC processes, using artificial intelligence (AI), robotics and automation techniques (such as robotic process automation [RPA]).”
MetricStream has delivered multiple innovations to help organizations gain value across the whole chain of GRC. For example, front lines are empowered to report potential risks or anomalies in a simplified, engaging manner using chatbots. An AI-enabled issue and action recommendation engine leverages machine learning to help customers detect issue management patterns, and receive strategies for remediation. Innovations include deepening capabilities for continuous control monitoring and automated risk assessments.
MetricStream’s comprehensive suite of GRC solutions address the unique needs of Chief Risk Officers, Chief Compliance Officers, Chief Information Security Officers, Chief Audit Executives, and Chief Sourcing Officers, among others. At the foundation is the MetricStream GRC Platform which enables customers to model their entire risk taxonomies, workflows and reporting within a single integrated risk framework. The result is improved efficiency and collaboration across the lines of defense, and timelier risk visibility for the leadership and board to make confident business decisions.
Throughout 2019-20, top industry analysts have positioned MetricStream as a leader in various GRC categories, including Integrated Risk Management, IT and Security Risk, Vendor Management, Audit Management and Business Continuity Management. MetricStream also won GRC Product of the Year at the Risk.net 2019 Risk Technology Awards.
Says MetricStream CTO and Interim CEO Andy Diggelmann, “We strive to continue to push the envelope with new innovations in predictive analytics, artificial intelligence, cognitive automation, mobility and the GRC cloud – all with the aim of helping our customers gain faster and better risk intelligence to catalyze business performance and growth. We value the analysis and inputs of Chartis, given that their analysts engage regularly and deeply with practitioners of large and mid-tier companies to gain and provide insights.”
MetricStream is the independent market leader in enterprise cloud applications for Governance, Risk, Compliance (GRC)/Integrated Risk Management(IRM). 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, healthcare, life sciences, energy and utilities, consumer brands, government, technology and manufacturing. MetricStream is headquartered in California, with centers in New York, London, Milan, Madrid, Dubai, Sydney and Bangalore, among several other cities globally (www.metricstream.com).