SAN JOSE, Calif.--(BUSINESS WIRE)--MetricStream, the global market leader in governance, risk, and compliance (GRC), today announced that it has been recognized as a Category Leader in Chartis Research’s RiskTech Quadrant® for all seven solution categories: Enterprise GRC, Operational Risk Management, Internal Audit Management, Third-Party Risk Management, IT Risk Management, GRC Analytics, and Conduct and Risk Control. Chartis Research's evaluation was based on the completeness of the offering and market potential.
“We are extremely honored to be recognized as a leader by Chartis in every category of risk management, validating our strategy, market traction, and product leadership,” said Gaurav Kapoor, co-CEO and co-Founder of MetricStream. “Even as the interconnected risk landscape continues to evolve at an unprecedented pace, our customers are uniquely equipped to make better, faster risk and compliance decisions with the power of AI on one integrated GRC platform.”
According to Chartis, an influx of regulations and changing operational practices has made GRC a core component of successful financial services organizations. GRC is now an operational activity, intersecting technology, the front office, traditional control functions, and risk management. The digital transformation of financial institutions has created new challenges, including a strong focus on digital resilience, which is now synonymous with business resilience.
Chartis implemented enhanced guidelines for the RiskTech Quadrant this year to address the impact of technology on organizational approaches to risk. The Chartis report states, “As a broader risk function becomes increasingly embedded throughout financial institutions’ operational processes, it is causing a deep structural change in how firms approach GRC. To enable this change, the risk function has added new areas of coverage – particularly technology risk and operational resilience – that are becoming increasingly synonymous with one another.”
Given the expanded role of IT in most organizations, the centralization and externalization of risk, as well as the growth of technology and operational risk, are major strategic themes. How organizations address these themes will predict their relative success. Fast-evolving regulations, increasing digital transformation, and the criticality of AI, automation, and analytics are also placing new demands on risk leaders.
MetricStream’s Connected GRC, empowered by Cognitive, Continuous, and Cloud capabilities, empowers organizations to adopt an integrated approach to GRC. It ensures a common taxonomy and provides real-time, aggregated risk and compliance insights. It also enables businesses to better identify, assess, manage, and mitigate strategic, operational, enterprise, IT and cyber, third-party, compliance, and environmental, social, and governance (ESG) risks.
MetricStream is also ranked 12th among the top 100 significant risk and compliance technology players worldwide and was named the category winner for Enterprise Governance, Risk, and Compliance in Chartis Research's RiskTech100® 2024.
Read more and access the full report here.
MetricStream is the global SaaS leader of Integrated Risk Management and GRC solutions that empower organizations to thrive on risk by accelerating growth via risk-aware decisions. We connect governance, risk management and compliance across the extended enterprise. Our ConnectedGRC and three product lines – BusinessGRC, CyberGRC, and ESGRC – are based on a single, scalable platform that supports you wherever you are on your GRC journey.
MetricStream is headquartered in San Jose, California, with an operations and R&D center in Bangalore, India, and sales and operations support around the globe. More information is available at www.metricstream.com, LinkedIn, Facebook and Twitter.
