PALO ALTO, Calif., Jan. 8, 2020 /PRNewswire/ -- MetricStream, a market leader in governance, risk, and compliance (GRC) apps and solutions, today announced that the company has been positioned as a Leader in the 2019 Gartner Magic Quadrant for IT Vendor Risk Management Tools. MetricStream was among 16 technology providers that were evaluated by Gartner based on completeness of vision and ability to execute.

MetricStream believes that its positioning in the Magic Quadrant reflects the confidence that customers have shown in the company's intuitive and cloud-based IT vendor risk management (VRM) solution. Built on a scalable GRC platform, the solution offers a simple and efficient way for organizations to understand, assess, and monitor their IT vendor risks.

According to the Gartner report, "Through 2022, more than 5% of publicly traded companies will see a decrease in market capitalization as a result of mismanaged or unmanaged vendor risks."

The MetricStream IT Vendor Risk Management Solution enables organizations to proactively prevent IT vendor incidents through timely risk visibility and reporting. The solution also streamlines vendor information management, due diligence, continuous monitoring, and compliance management.

"We're delighted to be recognized as a Leader in the Gartner Magic Quadrant for IT Vendor Risk Management," says Gaurav Kapoor, 'Office of the CEO,' and COO, MetricStream. "With regulations like GDPR, as well as the PRA's focus on outsourcing and third-party risk management, IT vendor risk management is now a boardroom priority, and closely integrates with other risks such as cyber and business continuity."

Continues Gaurav, "We remain committed to delivering innovative solutions that help our customers optimize the value inherent in their IT vendor relationships while minimizing the associated risks, and strengthening business resilience."

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India. (www.metricstream.com).

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SOURCE MetricStream Inc