PALO ALTO, Calif., Feb. 10, 2016 /PRNewswire/ -- MetricStream, the market leader in Governance, Risk, and Compliance (GRC) has been recognized as a Leader for Operational Risk Management Solutions, for the second consecutive year, by Gartner Inc, the independent analyst firm.
MetricStream's portfolio of over 30 GRC apps complement its Operational Risk Management Solutions portfolio. MetricStream products support a wide range of business leaders, including C-suite executives, plus additional roles such as Chief Information Security Officers (CISOs), VRM executives and quality management executives. MetricStream has evolved its GRC solution set built on the MetricStream GRC platform and integrated with purpose-built modules. MetricStream is strengthening its focus not only on large, enterprise customers, but also on small and mid-market customers.
"We are delighted to be recognized as a Leader in 2015 Magic Quadrant for Operational Risk Management Solutions by Gartner. We believe this is a strong endorsement of our capabilities and our continuous investment in Operational Risk," said Gaurav Kapoor, Chief Operating Officer at MetricStream.
"Siloes in the Operational Risk function, particularly within banks, are being broken down. ORM is starting to work more closely with other groups such as Vendor Risk, IT and Security, Regulatory Compliance, Audit and the business functions in order to get a real-time view of risk across the enterprise. MetricStream enables clients to gain a corporate-wide view of risk by streamlining risk and control assessment processes and enhancing collaboration across the three lines of defense. The solution also provides robust capabilities for risk reporting, risk analysis, and monitoring of Key Risk Indicators (KRIs) which enable clients to gain greater visibility into risk data, strengthen decision-making, and drive better business performance," Kapoor added.
The Gartner Report states that the ORM software market has progressed through the first phases of the Gartner Hype Cycle over the past three to five years, and its maturity level is characterized as early mainstream, with a market penetration of 20% to 50%. The market is not projected to plateau for another two to five years, and, during that time, it will be shaped by a number of priorities. ORM software solutions are becoming increasingly important because of organizations' growing need to meet compliance and regulatory requirements, particularly in financial services and healthcare, and because of their desire to avoid severe fines from regulators. This is especially true in North America and Europe, and is the primary reason for the increase in technology maturity.
Regarding ability to execute, Gartner analysts evaluated technology providers on the quality and efficacy of the processes, systems, methods or procedures that enable their performance to be competitive, efficient and effective, and to positively impact revenue, retention and reputation. Ultimately, technology providers were judged on their ability and success in capitalizing on their vision.
For completeness of vision, Gartner analysts evaluate technology providers on their ability to convincingly articulate logical statements about current and future market direction, innovation, customer needs, and competitive forces, and on how well these statements map to Gartner's position. Ultimately, technology providers are evaluated on their understanding of how market forces can be exploited to create opportunity for the providers.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner, Magic Quadrant for Operational Risk Management Solutions, John A. Wheeler, Jie Zhang, 14 December 2015
MetricStream is the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).
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