What It Takes to Be a Leader in Governance, Risk, and Compliance

Introduction

We had a fantastic start to the year at MetricStream, with global leading research and advisory firm Forrester recognizing us as a Leader in The Forrester Wave™: Third-Party Risk Management (TPRM) Platforms, Q1 2024.

The recognition comes on the heels of The Forrester Wave™: Governance, Risk, and Compliance Platforms, Q4 2023, which also named MetricStream as a Leader with the highest possible scores in the GRC Vision, IT/Cyber Risk Management capabilities, AI/ML, product roadmap, and partner ecosystem criteria. Being recognized as a Leader in GRC and TPRM by Forrester is a testament to MetricStream’s unwavering strive for excellence and our commitment to helping organizations thrive on risk. 

MetricStream has been spearheading GRC innovation for 25 years now, enabling organizations across industries and geographies to embark on the GRC journey and achieve business excellence. Being validated by independent research firms consecutively for many years is no ordinary feat. It requires determination, hard work, and a lot of perseverance. 

There are three key reasons that make MetricStream a leader in GRC:

1. Trailblazing Vision, Roadmap, and Strategy

MetricStream has been a trusted GRC partner for organizations across industries and geographies for nearly 25 years now. In our journey so far, we have experienced many “GRC waves” – the financial crisis in 2008, technological advancement with automation and mobile technologies around 2015, the global healthcare crisis due to the COVID-19 pandemic in 2020, and the AI revolution, particularly generative AI, in 2023. 

What’s been a differentiating factor for MetricStream in all of these major global events was the ability to foresee and embrace the risks and opportunities they presented. The leaders at the helm of the company – Gunjan Sinha, Executive Chairman and Co-Founder, Gaurav Kapoor, Co-CEO and Co-Founder, and Prasad Sabbineni, Co-CEO – with their extensive experience and in-depth knowledge are uniquely positioned to guide the company’s GRC innovation roadmap and strategy to make it more relevant and forward-looking. 

The product innovation roadmap and strategy are also continuously refined and improved based on customer feedback. The objective is to ensure that our products and solutions meet and exceed the needs of today’s modern enterprise. We regularly engage with our customers via dedicated product councils and special interest groups to understand customer pain points, challenges, and expectations.

2. Technological Excellence

The progressive vision and roadmap are brought to life via our product and platform releases. Especially in the past three years – starting from Arno to the most recent Euphrates release, we have enriched our products and solutions with advanced features and functionalities, such as low-code/no-code capabilities, connected insights, cloud-native technology, AI-powered issue and remediation management, advanced risk quantification capabilities, autonomous and continuous monitoring and testing of controls, and more. AiSPIRE, the most recent addition to our product suite, enables organizations to leverage the benefits of AI for optimizing their control environment. 

But what does this mean for organizations? How are we helping companies thrive on risk? 

The answer lies in the business value we deliver (based on customer responses and the GRC Journey Business Value Calculator): 

• 67% improvement in risk reporting visibility and efficiency 
• 90% reduction in the time taken to manage compliance activities 
• 30% reduction in controls and control tests

Learn how we helped Zurich Insurance, Switzerland's largest insurer, revolutionize its compliance, policies, and enterprise risk management processes in this award-winning case study.

3. Proliferating Partner Ecosystem

MetricStream partners play an indispensable role in our success story by helping us expand our reach and enhance the depth of our cutting-edge solutions. Our partner program is built on the core values of driving innovation, accelerating time-to-value, and achieving GRC expectations of organizations. The concerted effort aims to empower organizations to make risk-aware decisions, improve efficiency, and build resilience. 

The MetricStream partner ecosystem includes some of the biggest names in the industry, such as Amazon Web Services (AWS), Deloitte, HCL Technologies, Infosys, PwC, KPMG, and many others.

The Journey Ahead

As the GRC landscape continues to evolve and become more interconnected, complex, and dynamic, organizations will need true GRC systems and programs with an integrated and connected approach supported by AI, cloud, and continuous capabilities. And we are hard at work to bring these next-generation solutions to you and help you advance on your GRC maturity curve. 

If you’re looking to embark on the GRC journey and want to understand how MetricStream can help, contact us today! 

Get your complimentary copy of The Forrester Wave™: Governance, Risk, and Compliance Platforms, Q4 2023 by clicking on the link.