MetricStream

MetricStream is a leading SaaS platform for governance, risk management, and compliance (GRC) that helps organizations manage risk, ensure regulatory compliance, and drive operational excellence. With a comprehensive suite of integrated applications, MetricStream enables businesses to identify, assess, mitigate, and monitor risks across various business functions. The platform is designed to streamline the management of internal controls, compliance, audits, and risk assessments, allowing organizations to manage GRC processes more efficiently while maintaining regulatory compliance and improving resilience.

Key Features:

1. Risk Management: MetricStream provides powerful tools for identifying, assessing, and managing risks across an organization. The platform enables users to create risk registers, conduct risk assessments, prioritize risks, and implement mitigation strategies. MetricStream’s risk management solution helps organizations maintain a proactive approach to risk by continuously monitoring and responding to emerging risks.

2. Regulatory Compliance Management: The platform offers a comprehensive regulatory compliance management module that helps organizations track and comply with industry regulations, such as SOX, GDPR, HIPAA, and others. MetricStream automates the compliance workflow, including policy management, regulatory mapping, and control testing, ensuring that businesses remain compliant with both internal and external requirements.

3. Internal Audits: MetricStream’s internal audit management tools enable organizations to plan, execute, and track audit activities. The platform supports the entire audit lifecycle, from risk-based audit planning to audit execution, findings management, and reporting. Automation tools streamline audit workflows, making audits more efficient and less time-consuming.

4. Third-Party Risk Management: The platform includes robust third-party risk management features, enabling organizations to assess and monitor the risks associated with vendors, suppliers, and partners. MetricStream provides tools to conduct due diligence, assess risk exposure, and implement mitigation plans to ensure that third-party relationships are effectively managed.

5. Issue and Incident Management: MetricStream helps organizations track and manage compliance violations, incidents, and issues through an integrated issue management system. Users can log incidents, assign them to relevant teams, track progress, and implement corrective actions. This helps businesses respond quickly to risks and prevent similar incidents from occurring in the future.

6. Policy and Document Management: The platform simplifies the creation, distribution, and tracking of corporate policies and procedures. MetricStream’s policy management module ensures that all policies are centrally stored, easily accessible, and up to date. This helps organizations maintain transparency and accountability while ensuring employees adhere to regulatory requirements.

7. Audit and Compliance Reporting: MetricStream includes advanced reporting and analytics tools that allow users to generate detailed reports on compliance status, risk assessments, audit outcomes, and other GRC-related metrics. These customizable reports provide insights into the organization’s risk posture and compliance health, supporting better decision-making and stakeholder communication.

8. Integrated GRC Platform: MetricStream’s integrated GRC platform connects risk management, compliance, and audit functions, ensuring that all GRC processes are aligned and easily managed from a single system. This integration allows businesses to break down silos, improve collaboration, and gain a holistic view of their risk and compliance landscape.

9. Mobile and Cloud Access: The platform offers mobile and cloud-based access, allowing users to manage GRC activities from anywhere. This flexibility ensures that compliance officers, risk managers, and auditors can access critical information and execute tasks in real-time, even when working remotely.

Benefits:

• Centralized GRC Management: MetricStream centralizes risk, compliance, and audit functions into a single platform, allowing organizations to manage GRC processes more efficiently and reduce operational complexity.

• Improved Risk Mitigation: The platform’s risk management tools enable organizations to proactively identify, assess, and mitigate risks, improving resilience and reducing the likelihood of regulatory violations or business disruptions.

• Enhanced Compliance: MetricStream automates compliance management tasks, including policy management, control testing, and regulatory tracking, ensuring that businesses remain compliant with industry standards and regulations.

• Audit Efficiency: The platform’s audit management features streamline the audit process, reducing the time and resources required to conduct internal audits and track findings.

• Third-Party Risk Management: MetricStream’s vendor risk management tools ensure that businesses can assess and monitor the risks associated with third-party relationships, helping prevent supply chain disruptions or compliance breaches.

Use Cases:

• Financial Services: Banks and financial institutions use MetricStream to manage regulatory compliance, monitor financial risks, and conduct internal audits to ensure compliance with regulations such as SOX, Basel III, and AML.

• Healthcare: Healthcare organizations leverage MetricStream’s compliance management tools to ensure adherence to regulations like HIPAA, manage clinical risks, and ensure patient safety.

• Energy and Utilities: Companies in the energy sector use MetricStream to track operational risks, maintain regulatory compliance (e.g., environmental regulations), and manage third-party contractors and vendors.

• Manufacturing: Manufacturers use MetricStream to monitor risks related to product safety, supplier quality, and regulatory compliance, ensuring operational continuity and supply chain resilience.

MetricStream provides an integrated and comprehensive solution for managing governance, risk, and compliance processes. Its advanced risk assessment, compliance automation, and audit management tools make it an essential platform for organizations looking to strengthen their GRC capabilities and maintain regulatory compliance.

Schedule a Meeting to Avail the Services of MetricStream

View Knowledge Base