Utilities Industry
Gain a Connected View of Risk and Compliance to Strengthen Resilience
Utilities Industry
Measure Your Program Outcomes
- 90%
reduction in the time taken to manage compliance activities
- 50%
saving of time and costs for third-party risk assessments and identifying risks
- 67%
improvement in risk reporting visibility and efficiency for the executive management and board
Strengthen Business Resilience with an Integrated Approach to Governance, Risk, and Compliance
The utilities industry faces rapidly evolving risks and regulatory compliance requirements from the likes of FERC, NERC, and EPA as well as state and regional public service commissions combined with cross-industry regulations. Amplified digital transformation efforts to improve customer experience and business performance increase risk exposure exponentially. MetricStream GRC solutions for the utilities industry provide an integrated risk, compliance, and audit framework, enabling organizations to reduce cost and drive business value and growth. They help mitigate enterprise risks, improve the efficiency of regulatory compliance programs, optimize audits, strengthen cyber risk program, and adopt effective environmental, social, and governance (ESG) program across their value chain.
How MetricStream Software Solutions Help You
Adopt a Proactive Cyber Risk Resilience Program
Accelerate digital transformation efforts while enhancing cyber risk management program. Proactively foresee and mitigate IT and cyber risks, threats, and vulnerabilities. With MetricStream CyberGRC, effectively adopt best practices and industry frameworks such as ISO 27001, NIST CSF, and NIST SP800-53 to strengthen cyber resilience. Easily aggregate and integrate data on IT risks, cyber risks, threats, vulnerabilities, and third-party risks to effectively assess and mitigate risks while ensuring compliance with industry standards.
Enhance Enterprise Risk Management
Gain a real-time and 360-degree view of risk posture for making better-informed decisions. With MetricStream Enterprise and Operational Risk Management, adopt an integrated approach to risk management by standardizing risk taxonomies, eliminating siloed risk processes, and facilitating harmonization and aggregation across different teams. Automate and optimize the risk management lifecycle and gain real-time aggregated visibility of risks to easily navigate the rapidly evolving risk landscape.
Improve ESG Performance
Set up a centralized library and risk framework to document and manage ESG risks and related details with MetricStream ESGRC. Easily define and manage ESG standards, frameworks, and disclosure requirements, including climate-related guidelines set by the Sustainability Accounting Standards Board (SASB) and the Financial Stability Board's Task Force on Climate-Related Financial Disclosures (TCFD). Link standards to organizational entities and automate the collection and aggregation of data with real-time analytics and dashboards.
Minimize Exposure to Third-Party Risk
Gain visibility into the third-party ecosystem and prevent disruptions and vulnerabilities by effectively managing supplier risks and performance. With MetricStream Third-Party Risk Management, quickly identify critical suppliers and maintain a reliable pool of suppliers for each product or service category by aggregating and mapping supplier and sub-supplier data and performing thorough assessments and audits. Leverage quick and comprehensive insights into the supply chain through powerful reports and dashboards.
How MetricStream Benefits Your Business
- Gain real-time visibility across cyber risks through risk quantification and contextual risk information from across the enterprise
- Establish a strong risk management and data governance program with real-time monitoring of risks
- View extensive metrics on the organization’s current ESG score and strategize next steps
- Enhance efficiency by correlating vulnerabilities with IT assets, and prioritizing remediation efforts based on the areas of highest criticality
Related Resources
Frequently Asked Questions
Utilities companies face a rapidly evolving risk landscape driven by digital modernization, sustainability imperatives, and increasingly stringent regulatory mandates from agencies such as FERC, NERC, EPA, and state and regional regulatory authorities. Smart grid initiatives, renewable integration, and customer-centric digital services expand the risk landscape exponentially, from operational disruptions and cyber threats to complex third-party dependencies. Growing interconnectivity across IT and OT environments further heightens cyber risk while adding pressure to maintain uninterrupted service delivery.
MetricStream's Regulatory Compliance solution helps utilities companies stay ahead of constantly changing requirements from FERC, NERC, EPA, and state and regional regulatory authorities. The platform centralizes and maps diverse mandates, enabling teams to track and manage changing regulatory obligations, implement policies, perform compliance assessments, and conduct control testing. By aligning policies, standards, controls, and regulations in one place, utilities organizations can eliminate inefficiencies and respond swiftly to evolving regulations and incidents.
MetricStream's Cyber GRC solution helps utilities companies accelerate digital transformation efforts while enhancing their cyber risk management program. The platform supports the adoption of best-practice frameworks such as ISO 27001, NIST CSF, and NIST SP800-53, and enables real-time identification and mitigation of IT and cyber risks across IT and OT environments. Organizations can aggregate risk data from multiple sources, assess vulnerabilities in the context of critical assets, and determine cyber risk exposure in monetary terms through risk quantification.
MetricStream addresses the growing interconnectivity between IT and OT environments by providing utilities companies with unified visibility across both landscapes. The solution enables organizations to correlate vulnerabilities with IT assets, prioritize remediation efforts based on areas of highest criticality, and manage cyber risks that span both operational and information technology systems, helping utilities maintain uninterrupted service delivery while meeting cybersecurity compliance requirements like NERC CIP.
MetricStream's Enterprise and Operational Risk Management solution enables utilities companies to adopt an integrated approach to risk management by standardizing risk taxonomies, eliminating siloed risk processes, and facilitating harmonization and aggregation across different teams. The platform automates and optimizes the risk management lifecycle and provides a real-time, 360-degree view of risks, helping organizations navigate the rapidly evolving risk landscape and make better-informed decisions at every level.
MetricStream's Third-Party Risk Management solution helps utilities companies gain visibility into their third-party ecosystem and prevent disruptions and vulnerabilities by effectively managing supplier risks and performance. The platform supports aggregation and mapping of supplier and sub-supplier data, thorough assessments and audits, and powerful reports and dashboards that provide quick and comprehensive insights into supply chain risk, enabling proactive identification of critical suppliers and maintaining a reliable supplier pool.
According to MetricStream customer responses and the GRC Journey Business Value Calculator, utilities organizations using MetricStream have achieved a 90% reduction in the time taken to manage compliance activities, a 50% savings in time and costs for third-party risk assessments and identifying risks, and a 67% improvement in risk reporting visibility and efficiency for the executive management and board. These outcomes demonstrate the platform's ability to streamline compliance, strengthen cyber resilience, and improve executive risk reporting.
MetricStream's AI-first Connected GRC platform brings intelligence across the utilities GRC lifecycle — from automated compliance workflows and real-time risk monitoring, to AI-driven insights that help organizations proactively manage emerging threats. AI capabilities reduce manual effort in compliance management and third-party risk assessments, enhance efficiency by correlating vulnerabilities with IT assets, and support faster, data-driven decisions for risk managers, compliance officers, and executive leadership.
MetricStream transforms GRC for utilities by connecting cyber resilience, regulatory obligations, and operational risk management into a single integrated framework, rather than treating them as separate compliance exercises. This connected approach enables utilities companies to gain real-time visibility across their organization and compliance processes, proactively manage emerging threats, ensure regulatory readiness, and maintain reliable service delivery in an increasingly digital and distributed energy landscape.
