MetricStream, the global market leader in integrated risk management (IRM) and governance, risk, and compliance (GRC), today announced that the company has been recognized as a Leader in the 2021 Gartner Magic Quadrant for IT Risk Management (ITRM) tools. It is the 2nd consecutive year that MetricStream has been positioned as a Leader in the 2021 Gartner Magic Quadrant for IT Risk Management Tools for its ability to execute and completeness of vision. We believe this recognition further validates MetricStream’s ability to empower businesses to manage IT and cyber risk in an integrated, interconnected way, enabling them to identify strategic business opportunities and power what’s next even in today’s volatile business environment.
With the rapid digitization, adoption of the cloud and hybrid workforce, organizations are faced with increasing cyberattacks and the need to meet multiple compliance requirements. But traditional legacy solutions and manual excel based approaches to managing IT and cyber risks are no longer scalable and do not provide real-time visibility into the risk and compliance posture. Moreover, with the increasing need to prioritize cyber security investments, security and risk management leaders are now expected to communicate cyber risk exposure in monetary terms to their senior executives and boards.
MetricStream’s IT and Cyber Risk Management built on the MetricStream Platform enables organizations to adopt a strategic and integrated approach to identify, assess, manage, and mitigate IT and cyber risks while meeting compliance requirements. Capabilities like centralized risk library, vulnerability management, harmonized controls, configurable risk quantification, AI-powered issue management and frontline engagement help organizations proactively manage IT and cyber risks with real-time visibility. It is available both as a stand-alone offering as well as an integrated solution along with Risk, Regulatory Compliance, Audit and Financial Controls, Third-party Risk and ESG products. The solution is predominantly delivered via SaaS.
According to the Gartner report, “IT risk management products provide solutions that manage and automate IT compliance, assess the organization’s cyber and IT risk posture, and inform business decisions. Gartner Magic Quadrant helps security and risk management leaders evaluate this growing and dynamic market.”
“Today, more than ever, managing IT and cyber risk in a connected, strategic way is essential to business success,” said Gaurav Kapoor, Chief Operating Officer, MetricStream. “MetricStream’s IT & Cyber Risk Management solution equips customers to get real-time visibility of risk exposure, quantify risks in monetary terms, and power what’s next to accelerate digital transformation and growth. We are honored to once again be named a leader, helping our customers manage, embrace and thrive on risk.”