October 12, 2012 | Palo Alto, California: MetricStream has been positioned in the Leaders Quadrant in Gartner Inc’s latest Magic Quadrant for Enterprise Governance, Risk and Compliance (GRC) Platforms report1.
“We are pleased to be positioned in the Leaders quadrant by Gartner. For us, it reaffirms MetricStream’s vision and success in providing a comprehensive GRC platform and best-in-class solution suite for customers,” said Shellye Archambeau, CEO at MetricStream. “Market developments such as the demanding regulatory environment, escalating enterprise risks, and rapidly emerging risks from the cloud, social and mobile technologies, compounded by IT security-related threats to business, and complex global supply chains require organizations to have superior risk intelligence to drive business performance. At MetricStream, we continue on our path of product and technology innovation to ensure that we can provide the deepest and widest coverage of GRC solutions across global markets.”
The last year has been a landmark year for MetricStream in terms of R&D, market adoption, growth rates, talent acquisition, and global expansion. Some of the world’s largest corporations and most well-known brands as well as several small and medium enterprises use MetricStream GRC Platform and market leading solutions for Enterprise and Operational Risk Management, Audit Management, Regulatory, Financial, and Corporate Compliance, Policy Management, Regulatory Change Management, Case and Issue Management, IT-GRC, Business Continuity, Legal GRC, Supplier Governance, Quality Management (QMS), Environment, Health and Safety (EHS), and Sustainability Management.
As an example of providing true coverage to a wide spectrum of the market, one of the Global 50 companies retired more than 20 different applications with the MetricStream platform. Another Global 100 company is deploying MetricStream solutions across seven different functional areas with more than 200,000 users worldwide. While these are examples of sophisticated enterprise deployments, MetricStream has also, in the last year, deployed the latest version of its platform and products at several large and mid-sized companies within periods ranging from three weeks to three months. In doing so, the company has significantly reduced time-to-value for clients, and consistently ensured on-time and on-budget delivery through on-premise as well as cloud deployment models.
Specialized solution offerings to meet industry specific functional, content, and reporting requirements have established MetricStream as the preferred GRC partner for companies in Banking & Financial Services, Insurance, Energy & Utilities, Healthcare, Manufacturing, Consumer Goods, and Retail.
According to the report, “Instead of acquiring separate solutions for finance, IT and other business units, many enterprises are choosing to use a single EGRC platform and, when necessary, integrating the many point and functional solutions to satisfy specific GRC needs. Reporting and managing through a single platform potentially give executives, auditors and managers a holistic view of the enterprise's risk and compliance postures, as well as views sorted by requirement, entity and geography.”
As enterprises place strategic focus on enterprise risk management, MetricStream continues to witness significant adoption of its GRC platform to align Business, IT, and Security risks through a common and flexible information model that enables greater collaboration as well as improved visibility across governance programs. MetricStream has been making significant enhancements to its AppStudio to simplify set-up and configuration, and thereby accelerate solution implementation. The company is also developing innovative offerings for advanced mobility, advanced analytics, visualization and intelligence, structured and unstructured data management, and cloud governance.
“Most organizations are steadily moving away from point solutions, and embarking on the path of convergence of their different GRC requirements. MetricStream brings together a strong advisory ecosystem, as well as regulatory, business, IT, and risk content and a well-packaged solution suite serving several industries and functional groups,” said Gaurav Kapoor, COO at MetricStream. “We are delighted that our vision of creating a true GRC platform company with a high focus on R&D and market responsiveness is being unanimously recognized by our customers, partners, analysts, and shareholders.”
1 Gartner Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms - by French Caldwell and John A. Wheeler, October 4, 2012.