MetricStream's Third Party Management App integrates Dow Jones risk data to offer users a simple and comprehensive solution for screening and monitoring
PALO ALTO, Calif., May 20, 2015 /PRNewswire/ — MetricStream, the market leader in Governance, Risk, and Compliance (GRC) Management Apps, today announced that it is integrating Dow Jones' Risk & Compliance data into the MetricStream Third Party Management App, to provide its users with a simple and comprehensive solution for third party on-boarding, due diligence and continuous monitoring.
MetricStream's Third Party Management App enables organizations to comprehensively manage risks associated with third parties, including vendors and suppliers.
"Today's ever changing landscape is marked by sanction rules and regulatory enforcement, increasing fines and penalties for non-compliance, and a sharp focus on protecting brand and reputations," said Mark Mitchell, senior vice president, corporate development, MetricStream. "Organizations around the world are compelled to continuously monitor and assess their third party relationships which require the requisite due diligence checks, accurate and real-time risk assessments, along with the enforcement of robust standards. The partnership with Dow Jones Risk & Compliance will equip our customers with the intelligence and the tools needed to make better business decisions and drive business performance."
"Dow Jones is pleased to align with MetricStream to address the growing needs of the corporate compliance community," said Joel Lange, managing director, Dow Jones Risk & Compliance. "Through the availability of our data on MetricStream's Third Party Management App, customers will be able to benefit from our commitment to delivering top quality and reliable data."
Dow Jones Risk & Compliance is the leading provider of trusted data designed to mitigate regulatory, commercial and reputational risks, and spans Politically Exposed People (PEP), Relatives and Close Associates, Government Sanctions and Official lists, Special Interest Persons (SIPs), State Owned Companies, and Adverse Media.
According to findings from a 2015 survey conducted by MetricStream and the Risk Management Association (RMA), third-party relationships have evolved beyond traditional models of goods and service providers to include agents, agency agreements, channel and distribution agreements, co-branded products and services, among others. The survey found that organizations must keep pace with regulatory changes, increasing operational complexity, and an expanding global multi-tier vendor ecosystem, while also ensuring focus on emerging risk areas around mobility, cloud adoption, digital media usage, and alternative payments models.
About MetricStream
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, Healthcare, 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's customers include UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg's, Mondelez International, SanDisk, and NetApp. MetricStream also owns and operates 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).
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