IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

MetricStream announces new product for improved GRC

By Zach Thompson
Tue 5 Apr 2022

MetricStream has announced a new product to simplify the ability to navigate the rapidly growing importance of governance, risk, and compliance (GRC).

Danube offers users advanced risk quantification, automated compliance across cloud environments and support for the Task Force on Climate-Related Financial Disclosures (TCFD), intended to provide a framework for helping customers with climate-related financial risk disclosures.

The new risk quantification capability is built on MetricStream Intelligence, an advanced analytical and AI engine.

This affords users multiple scoring models and data science tools, including Monte Carlo simulations and modelling based on numerous variables.

Additionally, customers can generate a range-based estimate and predict the probability of different outcomes for annual loss expectancy.

MetricStream adds that one of the benefits of risk quantification is allowing the board and executive management to quickly understand the importance of each risk, resulting in prioritising strategies and making more informed decisions.

The new service also provides those with cloud-hosted environments the means to choose to automate compliance and control testing through Continuous Controls Monitoring (CCM).

MetricStream says that with automated validation of cloud environments across multiple cybersecurity standards and frameworks, CCM offers continuous testing, measurable results, and verifiable evidence. It adds that this increases productivity by identifying risks quickly and simultaneously ensuring compliance with cybersecurity standards and frameworks.

Furthermore, MetricStream now has enhanced risk quantification for business and operational risk management, allowing customers to score, prioritise, manage, and report risk and loss exposure in monetary values.

ESGRC now supports the TCFD framework for organisational governance best practices associated with climate-related financial risks and opportunities.

This allows users to automate data gathering for a broad range of metrics required for ESG financial risk disclosure and centralises management of disclosure reporting.

“The common theme for today’s announcement is centered on providing advanced measurement tools, whether evaluating risk across the enterprise, developing a cyber strategy, or establishing ESG metrics,” MetricStream chief technology officer Prasad Sabbineni says.

“Gone are the days that heat maps drive risk decisions. Much like we measure financial risks, GRC professionals now have access to risk metrics that enable them to more accurately identify, manage, and report risks in a language that board members can understand and with the speed that is required to be proactive.”

MetricStream says the Danube release also represents more than two dozen new product innovations. These include:

  • Self-service reporting
  • Low code and no-code tools for easy configuration
  • Advanced AI and ML capabilities to identify and rationalise duplicate controls
  • Anonymous case and incident reporting for witnesses and observers
  • Enhanced data on third-party financial reporting
  • Sustainable sourcing practices are also included

Also available to customers is the inclusion of over 900 cybersecurity controls and best practices pre-built into the product and evidence management for audits.

Related stories
Top stories
Story image
AGVs
Bridgestone Australia uses Dematic's AGVs to optimise warehouse operations
Bridgestone Australia has deployed Dematic's Automated Guided Vehicle solution across its new Melbourne warehouse in Truganina.
Story image
Adobe
Marketplacer and Adobe accelerate partnership for enhanced commerce solutions
Marketplacer has accelerated its partnership with Adobe in order to further enhance the global commerce marketplace.
Story image
Security Information and Event Management (SIEM)
LogRhythm updates SIEM Platform with latest innovations
LogRhythm has announced the launch of version 7.9 of the LogRhythm SIEM Platform and updates to LogRhythm NDR and LogRhythm UEBA.
Story image
Document Management
NZ's FileInvite raises $10M in latest investment round
FileInvite has raised $10 million in Series A investment to fast-forward the extinction of email for requesting and collecting documents online.
Story image
Storage
EXCLUSIVE: Finding the best data center for your business needs with datacenterHawk
Companies using cloud are consistently looking for the best storage solutions to suit their enterprise needs and often have to go through rather complex processes in order to find the right fit.
Story image
Artificial Intelligence
Decision Inc. partners with provenio.ai to expand offering
Decision Inc. Australia has partnered with provenio.ai to expand its offering to clients in the retail, FMCG, manufacturing, supply chain and logistics sectors.
Story image
Cloud
BT builds on Equinix partnership with new cloud offering
BT has launched a next-generation cloud connectivity offering extending its global network into strategic carrier-neutral facilities (CNFs) and building on its existing partnership with Equinix.
Story image
Telstra
Ericsson and Ciena, Telstra enhance service capacity for Telstra's optical network
Ericsson, Telstra, and Ciena have announced new enhancements to Telstra's Next Generation Optical Network, which will increase the service capacity of Telstra's optical network to 400 GE (Gigabit per Second Ethernet).
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.
Story image
Payroll
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image
Story image
Infrastructure
Video: 10 Minute IT Jams - An update from Paessler
Sebastian Krüger joins us today to discuss how unified infrastructure monitoring enables MSPs to seamlessly deliver services to their clients.
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Story image
Multi Cloud
Cloud is a tool, not a destination
For many years, “cloud” has been thought of as a destination which has led to a misguided strategy that sees an enterprise trying to shift all its applications to a single cloud provider – regardless of the specific needs and nuances of each individual workload.
Story image
Aspire
NEC expands Open RAN ecosystem with Aspire Tech acquisition
With its agreement to acquire Aspire Technology, NEC Corporation has further increased its capacity to deliver End-to-End Open RAN ecosystems.
Story image
Cybersecurity
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
Cybersecurity
Delinea’s Joseph Carson recognised with OnCon Icon Award
Delinea chief security scientist and advisory CISO Joseph Carson has been recognised as a Top 50 Information Security Professional in the 2022 OnCon Icon Awards.
Story image
Low-code
Appian unveils low-code certification program in Australia
Appian has announced a program to provide the next generation of low-code developers with access to education on the subject and certification to foster career opportunities.
Story image
Management
MYOB snaps up Sydney-based management software specialists
MYOB has announced the acquisition of Sydney-based business management software and support specialists, GT Business Solutions.
Story image
Artificial Intelligence
Juniper study reveals top AI trends in APAC region
Juniper's research shows an increase in enterprise artificial intelligence adoption over the last 12 months is yielding tangible benefits to organisations.
Story image
Metaverse
How the metaverse will change the future of the supply chain
The metaverse is set to significantly change the way we live and work, so what problems can it solve in supply chain management?
Story image
Sustainability
Honeywell named Frankston facility services provider
Honeywell has been named the joint facility services provider for Frankston Hospital’s AU$1.1 billion redevelopment.
Story image
Artificial Intelligence
Dynatrace extends automatic release validation capabilities
Dynatrace has extended its platform release validation capabilities to improve user experience at every stage of the software development lifecycle.
Story image
Ransomware
Businesses unprepared to defend against ransomware attacks
Ransomware attacks continue to impact organisations worldwide with high costs, but businesses are still largely unprepared.
PwC
WSLHD and PwC’s Consulting Business came together to solve through the challenges of COVID-19. A model of care was developed to the NSW Health Agency for Clinical Innovation guidelines with new technology platforms and an entirely new workforce.
Link image
Story image
Supply chain
Supply chains continue to be disrupted, enterprises embrace circular economy
“Businesses urgently need to find a solution that can help them to manage this disruption, and transition to a circular economy."
Story image
Samsung
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
Story image
Recruitment
Thales on recruitment hunt for next disruptive innovations
"Recruiting new talent is part of Thales's belief in the power of innovation and technological progress to build a safer, greener and more inclusive world."
Story image
Artificial Intelligence
Vectra AI named as AWS security competency partner
Threat detection and response company Vectra AI has announced that it has become an Amazon Web Services Security Competency Partner.
Story image
Apple
Your tools, your choice: why allow employees to choose their own devices?
Jamf Australia says giving your team the freedom to work with their digital device of choice could help to attract and retain top talent in a tight labour market.
PwC
PwC's Consulting Business and PwC's Indigenous Consulting are proud to play an important role in helping Australian Indigenous Mentoring Experience build IMAGI-NATION, a free online university for marginalised communities around the world.
Link image
Story image
Cybersecurity
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
Accounting
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Story image
Cybersecurity
Palo Alto Networks' cloud security platform receives IRAP assessment
"We provide help protect all forms of compute, cloud native services and access to data within public and private sectors."
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why it's time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Digital Fingerprint
Decline in counterfeit cherries after digital fingerprinting
Reid Fruits says there’s been a dramatic decline in counterfeit products for its cherries over the past three export seasons to Asia because of digital fingerprinting.
Story image
Malware
Colt launches new SASE Gateway solution with Versa
Colt Technology Services’ customers now have access to an integrated full SASE solution that brings together SD WAN and SSE features.
Story image
Wiise
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.
Story image
API
Industry-first comprehensive risk-based API security enhances protection
Application Programming Interfaces (APIs) have become a crucial part of operating web and mobile application businesses and are causing significant economic growth in the digital sector.
Story image
Airwallex
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Productivity
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Story image
Compliance
SentinelOne integrates with Torq to empower security teams
"With Torq, security teams can extend the power of SentinelOne to systems across the organisation to benefit from a proactive security posture.”