MetricStream Platform Overview
MetricStream is a comprehensive and integrated platform designed to address the complex needs of risk management, compliance, audits, and cybersecurity across various industries. With over a million global users, MetricStream empowers organizations to centralize, streamline, and enhance their governance, risk, and compliance (GRC) processes.
What MetricStream Does
MetricStream is a purpose-built platform that integrates all aspects of risk management, compliance, and audit activities. It enables organizations to:
- Identify, assess, and mitigate risks: Across IT, operational, financial, and reputational domains.
- Automate compliance workflows: Track progress against regulations such as HIPAA, GDPR, and SOX, and ensure adherence to internal policies.
- Streamline audit processes: Plan, execute, and address audit findings effectively.
- Manage cybersecurity risks: Proactively detect and respond to security incidents, ensuring data privacy and security.
- Enhance decision-making: Provide real-time, risk-aware business intelligence through advanced reports and analytics.
Key Features and Functionality
Federated Data Model
MetricStream leverages a centralized federated data model that unites data across risks, regulations, assets, controls, organizational entities, processes, and issues. This model serves as a single source of truth, removing friction between functional silos and enabling real-time, risk-aware decision making.
AppStudio
The AppStudio feature accelerates the creation, extension, and configuration of products on the MetricStream Platform. It allows for an extensible architecture, enabling organizations to adapt the platform to their changing business requirements.
APIs and Integration
MetricStream provides out-of-the-box Business APIs that are OpenAPI compliant, facilitating easy integration with multiple third-party systems. This ensures seamless data exchange and compatibility with existing IT systems and data warehouses.
Artificial Intelligence
The platform leverages predictive intelligence and semantic search to enhance risk, compliance, audit, and cybersecurity programs. Advanced systems based on AI and machine learning can identify key risk indicators (KRIs) and provide early warnings, allowing organizations to proactively manage risks.
Continuous Control Monitoring
MetricStream automates evidence collection at scale, providing total coverage against limited sampling in manual assessments. This feature ensures continuous monitoring and effective control over risk and compliance processes.
Intuitive Reports and Analytics
The platform offers built-in analytical dashboards and reports with rich visualizations for real-time insights. Organizations can also integrate their existing business intelligence (BI) tools to enhance reporting capabilities. Powerful reporting and analytics features enable business users to create comprehensive analyses and derive deep insights for driving business decisions.
Multi-dimensional Organizational Structure
MetricStream allows organizations to map their corporate hierarchy, geographies, and business units or divisions to their risk and compliance information. This multi-dimensional approach ensures that risk and compliance data are aligned with the organizational structure.
Internationalization and Localization
The platform supports multiple languages, currencies, and time zones, facilitating adoption across different geographies and ensuring global consistency in risk and compliance management.
Key Metrics Monitoring and Reporting
MetricStream provides comprehensive functionalities to define and manage key risk indicators (KRIs), key control indicators (KCIs), and key performance indicators (KPIs). Organizations can track these metrics, set up thresholds, and trigger automated notifications in case of a breach. The platform offers powerful dashboards and reports to gauge performance and analyze risk trends in real-time.
Business Value Delivered
- Accelerated Decision Making: MetricStream empowers organizations to address evolving business and market needs by delivering contextual, real-time intelligence through advanced reports and analytics.
- Unified Data Model: The platform unites data from diverse sources, ensuring data consistency and accuracy, and serving as a single source of truth for real-time decision making.
- Enhanced Efficiency: Automation of manual tasks and workflows increases efficiency and reduces costs.
- Proactive Risk Management: Early warning systems and predictive intelligence enable organizations to identify and mitigate critical risks before they impact operations.
- Improved Collaboration: The platform fosters collaboration across departments by providing a centralized platform for risk and compliance data, policies, and workflows.