March 24, 2015 | Palo Alto, California: MetricStream, a leading provider of Governance, Risk, and Compliance (GRC) Cloud Apps, announced today that Gartner Inc., the independent analyst firm, has recognized MetricStream as a 'Leader' for IT Risk Management. MetricStream is one of only two vendors that have been positioned in the 'Leaders' Quadrant of all four Gartner GRC MQ reports published in 2014-15.
MetricStream delivers one of the most sophisticated set of Apps to support IT and security executives in managing their IT Risk, IT Compliance, Threat and Vulnerability, Business Continuity Management and IT Vendor Risk Management programs. In addition to being positioned as a leader in the Gartner Magic Quadrant for IT Risk Management1, MetricStream has also been positioned as a leader in the 2014 Magic Quadrant for IT Vendor Risk Management and the 2014 Magic Quadrant for Business Continuity Planning.
Moreover, MetricStream was also positioned in the 'Leaders' Quadrant in the 2014 Gartner Magic Quadrant for Operational Risk Management. We believe this recognition as a leader across categories illustrates MetricStream's unique position in the industry as the only major independent solution provider focused on Risk Management across business, IT and security domains in order to help organizations achieve a truly integrated approach to GRC.
Today, MetricStream is the only vendor that is a leader in the most recent six GRC evaluations conducted by three independent analyst firms - all four 2014 Gartner MQs, the 2014 Forrester GRC Wave, and the 2015 Chartis EGRC and OpRisk TechQuadrant.
"We are very pleased to be recognized by the analyst community for our significant advancements and innovations in IT risk management," said Gaurav Kapoor, Chief Operating Officer at MetricStream. "Organizations today face growing complexities in IT and Security environments due to mobility, big data, cloud adoption, social media usage, prolific digital and e-commerce transactions, and increasingly sophisticated cyberattacks. It is imperative that organizations manage IT and Security risk in the context of business impacts and business performance. MetricStream Cloud Apps provide real-time visibility into risk so that business leaders can detect threats and proactively execute the appropriate response strategies."
Continued Mr. Kapoor, "MetricStream is the only vendor recognized as a leader in all six GRC evaluations conducted by three primary independent analyst firms that cover GRC as part of their core practices. As we continue to broaden our employee base, partner ecosystem, and customer community around the globe, our sole focus remains on delivering the most advanced GRC Apps that enhance decision-making and drive business performance."
The Gartner report says, "IT Risk Management (ITRM) is a core competency for Governance, Risk, and Compliance (GRC) programs. Organizations with appropriate maturity can use these products to automate effective IT risk management processes." ITRM is part of a growing category of GRC software applications that automate various workflows in support of GRC goals. Through common functions such as asset repository, regulatory mapping, survey capabilities, workflow functions and data import, GRC automation addresses multiple use cases defined by Gartner. The six defined Gartner GRC use cases include IT risk management (ITRM), Operational risk management ORM, VRM, BCMP, Audit Management, and Corporate Compliance and Oversight.
The MetricStream IT Risk Management App simplifies, streamlines, and automates IT risk management processes, leveraging the most innovative technology, content, and services. The App consolidates and contextualizes risk intelligence from organizational systems such as threat and vulnerability scanners, asset management systems, intrusion detection and prevention applications, and security feeds. The App can be further extended and integrated with other MetricStream Apps for IT Compliance, Security Threat and Vulnerability, and enterprise GRC Apps. With MetricStream Apps, CIOs and Security leaders are able to gain a comprehensive view of their organizations' IT GRC environment and broader business environment, which provides the context for more proactive, data-driven decision making.
MetricStream offers a comprehensive suite of GRC Apps to address the unique risks and operating environments of organizations across industries, including banking and financial services, retail, life sciences, energy, and manufacturing.