MetricStream – the governance, risk, and compliance (GRC) apps and solutions provider – says its new M7 platform includes applications for risk, compliance, audit, IT security, third party management, and other functions upon which GRC professionals rely.
With M7, MetricStream says it is providing fourth-generation GRC technology the industry has so far lacked. The M7 platform and apps are designed to help companies preserve their corporate integrity, protect their brand, and drive exceptional business performance through GRC that is simple, pervasive, and delivered in the cloud, the company said.
M7 focuses on enabling high performers through an “engaging user experience, high degree of configurability, enhanced mobility and layering, sophisticated reporting and analytics, and a future-ready architecture,” MetricStream said in announcing the release.
“M7 enables high performing organizations by making GRC simple, intuitive, and more deeply embedded across the enterprise and extended ecosystem,” said MetricStream CEO Shellye Archambeau. “M7 gives our customers real-time intelligence that they need to anticipate risk, and balance opportunities effectively.”
Here are the M7 highlights:
For risk management professionals
The MetricStream Enterprise Risk Management app enables organizations to manage a wide range of risks and related activities in a systematic and integrated manner. Through the app, users can identify, assess, monitor, and mitigate enterprise risks effectively.
Powerful analytics and reporting capabilities, paired with detailed graphical dashboards and charts, offer comprehensive and real-time visibility into risks, enabling stakeholders to make informed decisions. This app is often deployed with the Operational Risk Management, Business Continuity Management, and Internal Audit Management apps.
For regulatory and corporate compliance pros
The MetricStream Regulatory Engagement Management app streamlines and automates the process of managing various regulatory engagements, including examinations, meetings, and requests for information from regulators.
In tandem with the Compliance Management app, the Regulatory Engagement Management app simplifies engagement creation and task management, and captures all regulatory engagement data in a central repository.
Powerful dashboards and reports provide real-time insights, enabling stakeholders to make informed decisions that strengthen the organization’s relationships with regulators.
For audit management professionals
The MetricStream Internal Audit Management app helps organizations plan, manage, and track internal audits with ease and efficiency.
The app streamlines audit planning and scheduling, audit execution, review and analysis of audit findings, creation of the final audit report, and follow-up activities.
Through an intelligent, risk-based approach to internal auditing, the app helps prioritize audit tasks and resources based on the areas of highest risk.
For an enterprise audit management solution, the Internal Audit Management App is often deployed with the Compliance Management and Operational Audit Management apps.
For IT security professionals
The MetricStream IT Risk Management app empowers organizations to adopt a focused and business-driven approach when managing and mitigating their IT risks.
The app streamlines IT risk identification, IT risk assessments, and risk treatment. It also provides sophisticated analytics and reports that transform raw risk data into actionable IT risk intelligence, providing clear visibility into the top risks, and improving decision-making.
This app is often deployed with the IT Compliance Management and Threat and Vulnerability Management apps for an integrated IT GRC solution.
The MetricStream Threat and Vulnerability Management app strengthens IT security by proactively aggregating and correlating threats and vulnerabilities across information assets. The app integrates with multiple end-point IT security and infrastructure management tools and security intelligence feeds to identify and prioritize the risk exposure for IT assets, and streamline the remediation process.
Third party management
The MetricStream Issue Management app facilitates a systematic and integrated approach towards managing governance, risk, and compliance issues.
The app provides a single system for enterprise-wide issue management initiatives, thereby strengthening compliance and risk management, while reducing the associated costs.
Through an integrated approach, the app facilitates cross-functional coordination and collaboration on issue management, and helps align these processes centrally with corporate governance and reporting objectives. Issue Management is a critical component of any GRC solution.
Survey Management app
The MetricStream Survey Management app enables a structured and automated process to manage surveys for systems compliance, process compliance, risk assessments, HR policy awareness, legal attestations, etc.
The app fosters accountability by streamlining the flow of information and records, and documenting attestations and representations at appropriate stages.
Moreover, the reporting engine built on the MetricStream GRC Platform aggregates survey data, and enables exploration and evaluation of survey findings at the enterprise level.
Survey Management is a critical component of any GRC solution requiring the collection of intelligence across the enterprise and business partners, and can be integrated with other apps including Compliance Management, Risk Management, and Third Party Management.
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