Strategic alliance will help businesses strengthen GRC programs, harness risk intelligence, and gain process efficiencies
October 6, 2014 | New York, New York and Palo Alto, California — KPMG LLP, the U.S. audit, tax and advisory firm, and MetricStream, a market leader in governance, risk and compliance (GRC) solutions, today announced the formation of a strategic alliance to provide a comprehensive suite of GRC consulting and technology services to businesses nationwide.
According to a recent KPMG study, risk management ranked as the second-highest concern among 400 U.S. CEOs, following financial performance. While CEOs have increased the intensity of their focus on risk management, associated programs and processes around risk management haven’t kept pace with mounting expectations from management, regulators, shareholders and Boards of Directors.
“Business environments are marked by increasing regulatory pressures, globalized business and supply chains, adoption of the cloud and digitization across operations―all of which introduce new risks,” said Angela Hoon, Principal in Advisory Risk Consulting’s Enterprise Risk Management (ERM) and GRC practice at KPMG LLP. She continued, “Companies are fast realizing that success largely depends on their ability to anticipate, manage and mitigate these risks in a timely, efficient and technology-enabled manner. This has pushed GRC to the top of the strategic agenda, as management teams and Boards of Directors strive to obtain the right level of assurance and compliance while balancing risks and rewards for optimal business performance.”
KPMG, with its deep industry knowledge and GRC experience, combined with MetricStream and its integrated and innovative range of GRC apps available on the cloud, are poised to help clients build stronger, more agile and technology-enabled programs that can stay ahead of today’s fast-changing landscape. MetricStream’s technology solutions align closely with KPMG’s holistic approach to GRC implementation and transformation by streamlining, automating and integrating GRC programs for optimal effectiveness and efficiency.
“The future belongs to those organizations that are risk-aware, well-governed and consistently compliant,” said Gaurav Kapoor, Chief Operating Officer at MetricStream. He continued, “Companies are faced with new challenges and opportunities around big data, virtualization, cloud, mobility and social media, among other emerging areas. Within organizations, we are seeing an increasing convergence of GRC from the perspective of the business, IT and security. KPMG LLP and MetricStream are collaborating to provide the strategic advice, insights, platform and apps that customers need to transform their GRC initiatives into an integrated, collaborative and pervasive program, making GRC a proactive process rather than a reactive one across all levels of the organization and the extended enterprise.”
About KPMG LLP
KPMG LLP, the audit, tax and advisory firm (www.kpmg.com/us), is the U.S. member firm of KPMG International Cooperative (KPMG International). KPMG International’s member firms have 155,000 professionals, including more than 8,600 partners in 155 countries.
MetricStream is a market leader in enterprise-wide governance, risk, compliance (GRC) and quality management solutions. MetricStream solutions are used by leading global corporations in diverse industries such as financial services, health care, life sciences, energy and utilities, food, retail, CPG, government, hi-tech and manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream also owns and operates the www.ComplianceOnline.com portal – the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA (www.metricstream.com).