October 23, 2013 | Palo Alto, California: In the midst of a constantly evolving risk and compliance environment, MetricStream AppStudio proves to be an important asset for customers and partners alike. MetricStream recently analyzed the usage and challenges of GRC applications based on data collected through customer surveys and feedback sessions across 12 MetricStream Special Interest Group (SIG) meetings and roundtables held between January and October 2013. The data provided insights into GRC-related costs and efficiencies. It also highlighted the importance of GRC application flexibility, configurability, and automation in driving usage optimizations.
Embedded within MetricStream’s GRC Platform, AppStudio helps companies seamlessly configure and reconfigure their MetricStream GRC applications and empowers them to design, develop, and deploy their own GRC applications. In order to quickly adapt and respond to new risk and compliance requirements, many of the world’s leading companies look to AppStudio to accelerate large-scale GRC implementations, enhancements, and upgrades, as well as realize quicker time to value on a sustained basis.
MetricStream customers across industries reported that regulatory compliance and risk management frameworks continue to change in response to new laws and mandates, as well as in response to emerging risks that need to be captured, assessed, mitigated, and reported. In today’s dynamic business environment, many companies struggle with inflexible GRC solutions, which are time-consuming and costly to customize. The challenge is compounded in larger organizations, where the breadth and depth of the necessary GRC software customizations, configurations, implementations, or upgrades are extensive, and require a substantial amount of time, cost, and effort.
This is precisely why MetricStream AppStudio is proving to be a critical technology asset, as per enterprise GRC architects. The flexibility and extensibility of the system enables users to quickly modify, create and roll out GRC workflows, modules, and applications. It puts the control of GRC software back into the hands of customers, reducing the dependency on MetricStream and other third-party organizations to configure new workflows, extend GRC applications, or redefine data models. In doing so, the system helps drive down the Total-Cost-of-Ownership of GRC software. It also makes GRC programs more self-sustaining, agile, and responsive to changes in our business, risk, and regulatory environment.
To date, many MetricStream customers have realized significant value from AppStudio. In just 4 months time, a Fortune 500 financial services company leveraged AppStudio’s integrated suite of reusable code libraries, best practices, reports, design methodologies, and other high level building blocks to define their GRC processes and develop GRC workflows and dashboards with minimal custom coding.
MetricStream architecture features built-in levers to ensure seamless upgrades. AppStudio and the underlying GRC Platform have the capability to preserve configuration changes across upgrades, ensuring sustainability and scalability of applications as new versions are released. New AppStudio features such as advanced workflow and task assignment framework and form configuration options also enhance the overall usability of GRC applications.
AppStudio also powers one of MetricStream’s industry-recognized and award winning innovations - Zaplet, the GRC App Store. Developers, customers, and partners across the industry are adopting Zaplet’s open and flexible cloud platform which allows them to build, deploy, manage, and even distribute a variety of specialized GRC applications through Zaplet.
Commenting on the growing adoption for AppStudio, Anindo Banerjea, Senior Vice President of Engineering at MetricStream said, “AppStudio is changing the way we implement GRC solutions, and is driving enormous value for our customers and partners. By using AppStudio, companies gain the independence and self-sufficiency to advance their GRC processes on their own, with minimal dependency on MetricStream. In the process, they save time and resources, but more importantly, they are able to better align their risk and compliance processes with their changing business strategies and goals.”