MetricStream Granted a US Patent for "System and Method for Rule Based Classification of a Text Fragment"
The patent demonstrates MetricStream's continued focus on technology innovation as GRC becomes pervasive across the organization
PALO ALTO, Calif., July 18, 2016 /PRNewswire/ -- MetricStream, a leading provider of Governance, Risk, and Compliance (GRC) Apps, announced today that it has been granted a US Patent for "System and Method for Rule Based Classification of a Text Fragment." The patent, issued on May 24, 2016, covers MetricStream's creation of a classification system that classifies text fragments and implements domain rules, which is different than a standard natural language processing technique that uses the probabilistic characteristics of the language. The MetricStream innovation provides a classification system that classifies text (e.g., one or more sentences) obtained from multimedia content (e.g., digitized handwritten notes, digitized spoken words, digitized audio content, texts from social media, email, etc).
MetricStream is leveraging this text fragment classification technology in convergence with other emerging analytics technologies to power today's high performing digital businesses with a true system of intelligence that allows them to predict areas of risk, and balance opportunities effectively. As the industry leader in GRC, MetricStream is continuously innovating and leveraging its latest cutting-edge technology advancements in order to enhance its solutions as well as address new GRC use-cases such as Regulatory Change Management, Social Risk Management, and Cybersecurity, Threat and Vulnerability Management. In today's business landscape that is increasingly mobile, social, global, and virtual, MetricStream is raising the bar and presenting GRC as a true system of intelligence, while also ensuring simplicity and ease of use.
Commenting on the patent, MetricStream Chief Technology Officer Vidya Phalke said, "This patent is a significant milestone for MetricStream, demonstrating the depth of our analytics capabilities, which include a significant number of use-cases in extracting risk intelligence from unstructured data. In today's hyper-connected world, marked by rising mobility and social media usage, organizations are looking to the enabling role of technology to turn big data across data sources into meaningful insights that support better decision-making and business performance."
In order to ensure success for its customers, MetricStream is focused on continuous innovation and investment across the MetricStream GRC platform and applications. Today, MetricStream apps are leveraged by over 350 organizations worldwide across industries. MetricStream's mission is to enable organizations to preserve their corporate integrity, protect their brands and reputations, and drive superior business performance through GRC that is simple, pervasive, and delivered in the cloud or on-premise. MetricStream has been consistently rated as a market leader by leading analysts, and has received several awards and recognitions for product innovation and customer success.
About MetricStream
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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SOURCE MetricStream
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