MetricStream Reviews 2024: Pricing, Features & More

MetricStream Pricing

Based on our most recent analysis, MetricStream pricing starts at $75,000 (Annually, Quote-based).

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Starting From: $75,000
Pricing Model: Annually, Quote-based
Free Trial: Yes, Request for Free

Training Resources

MetricStream is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for MetricStream:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

MetricStream Benefits and Insights

Why use MetricStream?

Key differentiators & advantages of MetricStream

Minimize Losses From Risk Incidents: Improve the accuracy of risk detection measures and accelerate growth using real-time risk intelligence.
Improve Brand Reputation: Eliminate the risk of non-compliance with round-the-clock tracking of regulatory requirements, compliance risks, controls assessments and mandates.
360-Degree Security: Cover all blind spots, especially third-party vendors and suppliers, with continuous performance monitoring, risk reports and lifecycle management.
Automated Control QA: Be the first to identify failing controls with autonomous and automated control testing, reporting and alerts.
Self-service Reporting: Create custom reports with access to cross-product Insights and the declarative data authorization framework.

Industry Expertise

Designed for all industries, especially banking and financial services, energy, healthcare, insurance, life sciences, IT and telecommunications.

MetricStream Reviews

Average customer reviews & user sentiment summary for MetricStream:

37 reviews

80%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of MetricStream reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Centralized Platform: MetricStream provides a single platform for managing various GRC activities, including risk management, compliance, audit, and policy management. This can help organizations to streamline their processes and improve efficiency.
Flexibility and Customization: The platform is highly configurable, allowing organizations to tailor it to their specific needs and requirements. This includes the ability to create custom workflows, reports, and dashboards.
Scalability: MetricStream is a scalable solution that can grow with an organization's needs. This makes it a suitable choice for both small and large organizations.
Reporting and Analytics: The platform provides robust reporting and analytics capabilities, allowing organizations to gain insights into their GRC activities and make data-driven decisions. This includes the ability to generate custom reports, dashboards, and heat maps.

Cons

Steep Learning Curve: MetricStream's interface can be overwhelming for new users due to its complexity and extensive features, often requiring significant training and onboarding time.
Customization Challenges: While MetricStream offers customization options, implementing them can be technically demanding and may necessitate specialized IT skills or external consultants, potentially leading to increased costs and implementation timelines.
Reporting Limitations: Generating specific or ad-hoc reports can be cumbersome, as the platform's reporting capabilities may not always align with the unique needs of every organization, requiring additional effort to extract and manipulate data.

Researcher's Summary:

MetricStream has emerged as a popular choice for organizations seeking a comprehensive solution. User reviews from the past year highlight its strengths in ease of use, flexibility, and scalability, making it a valuable tool for managing various risks, including compliance, governance, and operational risks. The platform's intuitive interface and customizable features allow users to tailor it to their specific needs, while its ability to handle large amounts of data ensures it can grow alongside the organization.

However, some users have pointed out that MetricStream's implementation process can be complex, requiring careful planning and potentially additional resources. Additionally, there have been reports of slow support response times, which can be frustrating for users facing urgent issues. Despite these drawbacks, MetricStream remains a strong contender in the GRC software market, particularly for organizations with complex risk management needs and the capacity to invest in proper implementation and ongoing support. Its ability to centralize risk data, automate workflows, and provide real-time insights empowers businesses to make informed decisions and proactively mitigate potential threats. For organizations seeking a robust and adaptable GRC solution, MetricStream offers a compelling option, but careful consideration of its implementation and support aspects is crucial for a successful experience.

Key Features

Centralized Risk Repository: Navigate enterprise risk with pre-defined relationships across incidents, assets, processes, regulations and more. Securely store all risk information in a centralized federated data framework and intelligent content libraries. Create and standardize an integrated risk taxonomy.
AppStudio: Create, extend and configure various applications and products to ensure flexibility and scalability of business processes.
APIs: Design new APIs in compliance with OpenAPI. Integrate with third-party applications via intuitive Business APIs.
Artificial Intelligence: Leverage predictive analytics and semantic search functionalities to anticipate future risks.
Continuous Control Monitoring: Automatically collect evidence in the event of vulnerabilities and workplace incidents. Set up controls to cover against manual assessments with a limited sample size.
Reporting and Analytics: Use the intelligent dashboard to run reports via preconfigured extensions or existing BI tools. Leverage in-depth insights and data visualizations to get a 360-degree view of risk. Define risk parameters and attach cautionary values to risks.
Hierarchy Mapping: Chalk out a map of the corporate ladder, geographies and business units. Provide risk owners with complete visibility over risk and compliance postures, risk preparedness and resilience.
Risk and Control Assessments: Run regular risk and control assessments according to preset schedules. Test the efficacy of risk control measures. Evaluate, aggregate and score inherent and residual risks.
Business Impact Analysis: Analyze the potential impact of disruptions on various business processes via BIA surveys. Utilize Map Recovery Time Objective and Recovery Point Objective to assign a criticality score to essential operations.
Risk Monitoring: Track KRIs, KPIs and control indicators for potential threats. Set up alerts based on risk thresholds.
Operational Loss Event Management: Manage risk incidents and losses across multiple organizations in compliance with regulations such as the Basel Accords.
Disaster Management: Turn early disaster data into actionable intelligence. Proactively monitor third-party suppliers and critical business processes for warning signs. Improve the organization’s situational awareness and resilience.

Limitations

At the time of this review, these are the limitations according to user feedback:

Has a steep learning curve.
Lacks a comprehensive knowledge base to tackle the platform’s complexity.

Suite Support

Before contacting customer support, make sure to peruse the vendor’s website for a host of online resources such as articles, analyst reports, case studies, podcasts, product overviews, webinars and more.

Email: [email protected].

Phone: Not specified.

Training: Other than the self-help resources mentioned above, clients can register for paid, virtual, instructor-led, on-demand product training sessions.

Tickets: Log in to the support portal to submit a ticket.

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