PALO ALTO, Calif., May 30, 2013 /PRNewswire/ -- Chartis Research, a leading provider of research and analysis for risk management technology, has positioned MetricStream as a "Category Leader" in its RiskTech Quadrant™ for Operational Risk Management (ORM) Systems. According to Chartis, "category leaders are risk technology vendors that have the necessary depth and breadth of functionality, technology, and content, combined with the organizational characteristics to capture significant market share by volume and value."
"We are delighted to be cited as a leader by Chartis," said Gaurav Kapoor, COO at MetricStream. He continued, "Given their coverage, it's a strong endorsement of the value customers are getting from MetricStream. Banks, insurers, and other financial institutions, along with a wide variety of companies from other industries are looking for a strong platform to manage not just Operational Risk, but also to drive increased collaboration across functional groups including Audit, Compliance, Finance, Supply Chain, IT, Security, and Legal, among others, to better manage all lines of defense in their organization. The ability to aggregate risk information from large volumes of transactional data and extract comprehensive and comprehendible risk intelligence has been key to their Governance, Risk, and Compliance (GRC) programs."
According to Chartis, a series of events such as the recent financial crisis, rogue traders, process failures, high profile losses, and of course, regulations such as Basel II and Solvency II have increased the need for effective ORM. But what is encouraging is that ORM is no longer being seen as "a regulatory box-ticking exercise" but as "a potential source of value."
"Financial institutions recognize that robust ORM lays important foundations for improving bank processes and risk management. They are aware that improving ORM will be vital in improving risk management more widely by improving the escalation and communication of risks, by helping to improve risk culture, and by helping to ensure that the processes and systems in place will allow them to execute the changes that need to take place. Firms recognize that ORM can help them to adapt to the new regulatory and financial environment," indicates Chartis.
MetricStream provides a flexible and fully-integrated solution for ORM that is used by leading financial institutions worldwide. The solution streamlines and supports the complete range of ORM activities –from risk identification and RCSAs, to loss management, scenario analysis, KRI tracking, issue remediation, capital calculation models, and reporting.
Built on a centralized GRC platform, the solution scales across the enterprise, consolidating and mapping together all ORM-related data and processes – including risks, controls, assessments, KRIs, losses, near misses, and issues and remediation plans – in a common framework. This integrated approach has helped financial institutions transcend restrictive business silos, minimize operational redundancies, and enhance enterprise-wide collaboration on ORM activities.
The solution combines content such as best practices and regulatory libraries with innovative tools, including risk heat maps and scorecards, flexible risk rating mechanisms, risk-control libraries, capital calculation models, and scenario risk analysis tools. Powerful analytics and dashboards provide in-depth risk intelligence, helping managers make more informed decisions.
MetricStream was one of several technology vendors evaluated in the Chartis report. The Chartis RiskTech Quadrant™ reports are written by experienced analysts with hands-on experience in selecting, developing, and implementing risk management systems for a variety of international companies in a range of industries. The findings and analyses in the reports reflect the analysts' considered opinions, along with research into market trends, participants, expenditure patterns, and best practices.
Chartis is the leading provider of research and analysis on the global market for risk technology. Its goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. Chartis helps clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant™ is a registered trade mark of Chartis Research limited.
Chartis Research is authorized and regulated by the Financial Conduct Authority (FCA) for providing investment advice - (www.chartis-research.com).
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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