MetricStream

ConnectedGRC is a comprehensive solution enabling organisations to manage, monitor, and mitigate risks while ensuring compliance across various domains of the business. Its integration across domains facilitates the development of greater maturity in managing risks, by enabling an integrated and pervasive GRC approach. This can encompass risk, compliance, audit, cyber, and ESG functions sharing common taxonomies and frameworks, adopting agile approaches, and implementing self-service capabilities. Throughout, its AI/ML capabilities can help with automation, to reduce repetitive tasks and enhance decision-making processes.

Key functionalities include:

• Risk Management, supporting risk assessments, risk mitigation and acceptance processes, and tracking of key risk indicators across ERM and ORM requirements.
• Compliance Management, which helps manage regulatory compliance, policy management, and regulatory change tracking, as well as incorporating case and incident management to organise workflow.
• Audit Management, which supports the entire audit lifecycle, including audit universe management, planning, resource management, execution, and reporting.
• Cyber Risk and Compliance, which provides tools for IT and cyber risk management, threat and vulnerability assessment, and IT and cyber compliance.
• Third-Party Risk Management, which incorporates onboarding, due diligence, periodic assessments, performance management, and continuous monitoring of third parties.
• Business Continuity, which supports business impact analysis, continuity planning, and crisis management.
• AiSPIRE, which supports a growing range of additional capabilities e.g. AI-infused workflows, smart policy search, intelligent risk scoring, and predictive functions within decision-making.

Its integration capabilities include over 300 APIs and pre-built connectors, supporting organisations’ requirements for integration with various enterprise systems, and enabling autonomous compliance monitoring, risk assessment, and evidence collection (all of which can incorporate automation).

Reporting and analytics functions can connect across different organisational areas and the risk, compliance, audit, and third-party risk functions, enabling both the highest level of insight and drill-down into problems and causes.

A range of qualities and capabilities contribute to the key value propositions of ConnectedGRC.

Primarily, by integrating key GRC functions on a single platform, the solution provides a holistic view of an organisation’s risk landscape, enabling better decision-making and more effective risk management. This also underpins easier attainment and reporting of complex compliance responsibilities. AI and ML are augmenting the improvement of decision-making, as well as adding more value to improving process efficiency and reducing manual effort. And the foundation of a low-code/no-code architecture enables adaptation to meet specific organisational needs with faster delivery timescales to accommodate change.

MetricStream states that customers have reported significant improvements in efficiency and cost savings e.g. a leading global stock exchange, which reduced its annual program cost from $17M to $13M, and decreased the number of controls in use by around 30%. Another key area for organisational GRC efficiency improvement is regulatory change management, and ConnectedGRC provides a pipeline of future changes, along with organisational impact analysis, to help customers avoid future compliance violations.

The bottom line is that ConnectedGRC by MetricStream offers a powerful, comprehensive solution for organisations looking to transform their approach to GRC. It enables businesses to not just manage risks, but to embrace and thrive on risk, turning GRC from a necessary overhead into a strategic driver of business value. With its advanced technology and solution maturity, plus MetricStream’s deep domain expertise and strong community of users, ConnectedGRC is in a leading position in the ever-evolving landscape of integrated risk management and GRC solutions.