July 9, 2008 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, today announced that Gartner has placed MetricStream in the Leaders Quadrant in its recently released report “Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms (EGRC)”.¹
"We are pleased that MetricStream was recognized by a position in the leaders quadrant.” said Shellye Archambeau, CEO of MetricStream. "Customers are clearly embracing our vision of an integrated strategy to successfully manage programs for corporate governance, regulatory and operational compliance, and risk management.”
To be successful in the GRC market globally, vendors need to have strong functionality, vision and strategy with a focus on four primary GRC functions - audit management, risk management, compliance management and policy management - and have successfully executed horizontally across several industries.
“We are seeing strong interest from companies across industries like Utilities, Oil & Gas, Financial Services, Life Sciences, Manufacturing, Airlines, Retail and others that are looking to transition from silos of governance, risk, compliance and quality management to a more integrated and platform based approach for increased transparency and accountability in their GRC and quality management initiatives,” said Gaurav Kapoor, CFO and General Manager of MetricStream. “In my opinion, Gartner's evaluation and placement of MetricStream in the Leaders Quadrant validates the strategic approach and compelling value of our solutions.”
According to the report, “an EGRC platform must solve immediate GRCM needs and also enable the enterprise to pursue future consolidation and integration of GRC activities.” MetricStream was one of the first companies to see the vision of integrated GRC and Quality Management and created a powerful and patented Enterprise Compliance Platform. This allows companies to manage their Corporate Governance, Risk Management, Compliance and Quality Management processes all on the same platform leveraging advanced platform features including reporting, analytics, universal search, embedded best practices, a very high degree of configurability and personalization and the capability to easily integrate with multiple systems through the ‘infolet’ technology.
MetricStream’s ComplianceOnline.com portal which offers significant content (training, regulations, standards and best practices), has also been identified as one of MetricStream’s strong differentiators in the report. This portal is being used by over a million users globally.
MetricStream’s inclusion in the Leaders Quadrant comes close on the heels of MetricStream being named as a “Cool Vendor” in a separate Gartner report titled “Cool Vendors in Compliance and Risk Management, 2008” published in April 2008.² According to Gartner, "The products in this Cool Vendors research, although quite varied in their purpose and implementation, are similar in that they all offer real business benefits in performance, information quality and continuity of service."
Enterprises have been embracing MetricStream’s strategic solutions to address functions and regulations ranging from Enterprise Risk Management, Quality Management, Corporate Social Responsibility, Safety, SOX, FDA, FAA, FERC, NERC, OSHA, EPA, Banking, EH&S, SEC, IT Governance and several other compliance areas.
- Gartner, Inc. "Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms" by French Caldwell and Tom Eid, June 30, 2008
- Gartner, Inc. "Cool Vendors in Compliance and Risk Management, 2008" by French Caldwell et al, April 24, 2008
About Gartner's Magic Quadrant
The Magic Quadrant is copyrighted June 30, 2008 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Gartner's Cool Vendors Selection Process
Gartner's listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose.
Gartner defines a cool vendor as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn't do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner's interest or curiosity in approximately the past six months.