DigitalCFO Newsroom | 28 October 2021
MetricStream, the global market leader in integrated risk management and governance, risk, and compliance (GRC) solutions, today announced that the company has been awarded the Operational Risk Solution of the Year, as part of the Risk.Net Asia Risk Awards and Technology Awards 2021. This award reaffirms that the company has the right strategy, and that its Operational Risk Management product delivers value to our customers.
According to Risk.net, “what makes this solution stand out is that it provides deep visibility for users into an organization’s operational risks, controls, and losses, which effectively enables them to strengthen resilience, decision-making and business agility. This helps MetricStream customers realize their own operational efficiencies with a 66% reduction in time to complete full risk assessments.”
“We are at the cutting edge, delivering new and innovative technologies that are driving value for our customers, who need to protect themselves from uncertainties, minimize losses, and elevate decision-making,” said Aravind Varadharajan, Senior Vice President and Managing Director, APAC, MetricStream. “It’s an honor to be given this award, and confirmation that we are helping our Asia-Pacific customers turn risk into a strategic advantage.”
Risk.net is the world’s leading source of in-depth news and analysis on complex markets. The site looks at topics in detail, assesses the implications, speaks with practitioners, regulators, and other stakeholders, and produces detailed, analytical pieces.
MetricStream’s Operational Risk Management (ORM) product provides a comprehensive set of capabilities to manage operational risks and related losses to establish risk management discipline across the organization. It helps risk professionals to build organizational-wide risk awareness, protect business from uncertainties, promote risk-informed business decisions, while increasing operational efficiency and effectiveness.
With customers’ needs in mind, the product focuses on solving an inconsistency in risk management related processes while promoting a strong data governance, a lack of visibility into operational risks by providing timely actionable insights into top risks, difficulty in reducing operational losses with advanced risk analytics, a higher cost of non-compliance by mitigating compliance related risks and issues, and an inability to measure risk exposure in monetary terms with risk quantification. Additionally, AI-powered issue and action management ensures consistency and reduces time taken to manage issues and actions. Robust reporting, dashboard and analytics capabilities not only highlight key areas of concern, but also equip risk professionals with insights to take advantage of risk traversals.
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