PALO ALTO, Calif., April 24, 2013 /PRNewswire/ -- MetricStream's industry-leading GRC platform, which powers the GRC programs of some of the largest and most reputable financial institutions worldwide, has been awarded the "GRC Platform of the Year" at Risk.net's 2013 Operational Risk & Regulation Awards.
"We are delighted to be recognized at the Operational Risk & Regulation Awards," said Vidyadhar Phalke, Chief Technology Officer at MetricStream. "This award validates the strength and sophistication of MetricStream GRC Platform in enabling financial institutions to build better risk and compliance frameworks in order to manage ever evolving regulatory and risk management requirements. Today, our platform continues to grow, adding new capabilities for accessibility across tablets and smart phones and functionalities for advanced analytics and statistical modeling. We also ensure a low total-cost-of-ownership with our cost-effective cloud hosting service models and expedited time to go-live."
The 2013 Operational Risk & Regulation Awards come at a time when financial institutions are increasing their focus on sustainable mitigation strategies around operational risk, and are coping with increased regulatory pressures, fines, and penalties for any deviations. According to Risk.net, "Financial institutions are keen to avoid being next into the headlines, leading to more focus and higher spending on internal controls – and the same is even true in other sectors." Many large organizations are appointing Chief Risk and Compliance Officers, while smaller organizations are taking advantage of cloud technologies and subscription models to make their GRC programs more cost-effective, reports Risk.net.
To help organizations successfully overcome these challenges and optimize the value of their GRC programs, MetricStream provides a range of products and solutions built on the scalable and extensible MetricStream GRC Platform. The platform provides an enterprise-wide framework to consolidate all GRC processes, requirements, and data in a single point of reference. Through this centralized approach, the platform facilitates collaboration and federated information-sharing across all GRC participants and provides tools for gaining complete visibility into risk and compliance across the enterprise. It enables organizations to closely track incidents, loss events, and near misses, and proactively use this information to strengthen GRC measures.
MetricStream GRC Platform has been consistently recognized by top analysts as a market-leading GRC technology. Its ability to map to complex organizational structures, seamlessly aggregate massive volumes of data from enterprise systems, and transform this data into actionable risk and compliance intelligence have made it the GRC infrastructure of choice for a range of financial institutions -- including large global banks, mid-sized community banks, investment banks, insurance providers, asset management firms, federal financial agencies, and clearing corporations.
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions for global corporations. MetricStream solutions are used by leading corporations such as UBS, P&G, Constellation Energy, Pfizer, Philips, BAE Systems, Twitter, SanDisk, Cummins and Sonic Automotive 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 processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as several million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.
Mr. Vinay Bapna
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