MetricStream, the global market leader of integrated risk management and governance, risk management, and compliance (GRC) solutions, secured patent rights for an industry-first innovation on Multi-Dimensional-Organization-Structure (MDOS) which enables companies to quickly re-tool their GRC solution in response to an organizational change, minimizing downtime and preserving the visibility of risk and compliance functions.
With this patent, MetricStream is the only GRC platform capable of modeling complex, multi-dimensional organizational structures and setting specific, targeted risk responses and restrictions across the organization.
“Change is constant in the business environment, and systems need to ebb and flow with major organizational changes or organizations will be left vulnerable while in transition,” said Vidyadhar Phalke, Chief Technology Evangelists, MetricStream.
“Risk teams need robust visibility across the entire enterprise without delay so that they can produce comprehensive risk views for the decision makers. MDOS is an industry-first innovation built in the MetricStream GRC Labs and provides the foundation to navigate change while maintaining business continuity.”
The MDOS patent functionality is unique in its ability to quickly update the MetricStream Platform throughout any change to an internal organizational structure, including an internal restructuring, corporate divestiture, merger, or acquisition. This technology allows users to re-tool an entire GRC system in a matter of days, enabling true agility for corporate systems.
For example, a large financial institution in North America with more than 300 decentralized organizations across eight geographical regions recently deployed the MetricStream Platform supported by the MDOS capability.
The intent was to ensure their GRC solution continued to provide a common view of the organizational hierarchy while improving risk and compliance decision making, even with constant changes in the organizational design. The result was a 30 percent improvement in reporting and analytics for legal entities and a lower overall cost of ownership.
This latest patent builds on a history of innovation. In 2019, the USPTO granted MetricStream a patent for proprietary technology on graphically displaying complex relationships in data, and another data-centric patent is currently under review.
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