July 15, 2013 | Palo Alto, California: An Asia based airport management company has chosen MetricStream to provide a comprehensive solution for Enterprise Risk Management (ERM). The MetricStream solution will enable the company to unify end-to-end risk management processes and user groups in a cohesive framework, thereby providing a single source for risk data and intelligence. The solution will also help the company strengthen and track compliance with ISO 31000:2009 standards across the enterprise.

As an airport managing group, the company manages a number of risks such as safety and security risks, strategic and operational risks, regulatory risks, environmental risks, financial risks, IT risks, and reputation risks. To best mitigate and manage these risks, they have implemented a robust ERM framework that subscribes to ISO 31000:2009 standards. The group has also developed a comprehensive risk management policy, and regularly engages staff in discussing risk management processes and key risk issues.

As the company looked to integrate risk management into their day-to-day activities at every organizational level, while also ensuring proper oversight of risks, and to strengthen their ERM framework, they wanted to invest in the best technology.  After analyzing multiple vendors, they chose MetricStream as it offers the broadest range of capabilities, as well as the scalability to meet their growing risk management needs.  Moreover, the solution’s integrated platform approach aligns very well with the company’s ERM framework.

MetricStream’s ERM Solution will enable the company to streamline and standardize the complete range of their risk management processes, from risk identification, to risk assessment, risk mitigation, risk monitoring, reporting, and mapping risks to their impact, root cause, and controls.

Using the solution, the company will be able to transcend business silos, and enable seamless collaboration and communication across all risk management activities. Powerful reports and dashboards will roll up risk data from across the enterprise in real time to help management teams make informed strategic decisions. Other key capabilities such as document version control, timely alerts for events such as KRI breaches, and streamlined approval and rejection workflows will help them strengthen the effectiveness of their risk management processes.

The company will adopt MetricStream GRC Express to roll out the ERM solution. This cutting-edge virtualization and private cloud technology offers superior reliability and security, and quick solution deployment.

Managing airports requires strong risk management, from maintaining passenger safety and security, to serving and tracking airport traffic, to ensuring continuity across IT systems at all times. MetricStream believes that the best way to manage these kinds of risks is through a centralized, systematic, and consistent approach that enables real-time monitoring and reporting of risks. MetricStream solutions are designed with these capabilities in mind, and help companies, including airports, effectively balance the risk and opportunity equation.

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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