7 MetricStream Competitors and Alternatives for Risk and Compliance

Risks are everywhere and organizations need the right tools, processes, and policies to identify and mitigate them. Similarly, compliance requirements are increasing, and organizations need a way to stay on top of these changes and comply with them. Instead of investing in separate tools for each, organizations are increasingly moving towards consolidated platforms that enable them to handle risks and meet compliance.

MetricStream is a popular risk and compliance platform that works well for companies across many industries. That said, it also has shortcomings that make it unsuitable in some situations. Read on as we explore MetricStream alternatives.

What is MetricStream?

MetricStream is a comprehensive Governance, Risk, and Compliance (GRC) platform that provides the visibility you need to anticipate and assess risks, so you can take the appropriate remediation measures. It also helps organizations to take risk-aware decisions. With MetricStream, you get a centralized framework for tracking risks, automating workflows, and ensuring compliance with various industry standards.

Key Features

• Helps businesses identify, assess, and mitigate risks while ensuring compliance with regulations.
• Streamlines internal and external audits with automated tracking and reporting tools.
• Centralizes policies, procedures, and compliance documentation for easy access.
• Keeps organizations updated with the latest regulatory changes and helps them adapt.
• Monitors and evaluates risks associated with vendors and third parties.
• Uses artificial intelligence and automation to improve risk detection and reporting efficiency.

While MetricStream is a robust GRC platform, some organizations may seek alternatives that offer better flexibility, pricing, or ease of use. Moreover, some businesses find MetricStream’s customization options limited, especially when they need tailored solutions for their specific compliance needs.

Let’s now explore some popular MetricStream alternatives.

1. AuditBoard

AuditBoard is an integrated audit, risk, and compliance platform that connects data, stakeholders, and processes for a streamlined approach. It also offers workflows and automation to improve efficiencies and enable teams to work smarter in managing risks and meeting compliance.

Source: AuditBoard

Key Features

• Supports extensive collaboration among teams.
• Provides 49% higher visibility into organizational and operational risks that can impact your organization.
• Increases stakeholder communication and management by 50%.
• Uses risk-based auditing.
• Offers customizable dashboards for tracking compliance.

A key difference is that AuditBoard focuses heavily on audit and to a large extent on ESG while MetricStream is a comprehensive GRC solution.

Schedule a demo.

2. LogicGate Risk Cloud

LogicGate is another holistic GRC platform that uses real-time data to convert risks into opportunities for growth and collaboration. It enables you to view and evaluate risks and their potential impact on your organization. Accordingly, you can make data-driven decisions to mitigate them while adhering to the legal regulations and frameworks.

Source: LogicGate

Key Features

• Offers a centralized framework that scales and adapts to your business needs.
• Automates manual processes to improve efficiency and reduce errors.
• Provides real-time visibility into your risk environment.
• Generates data-driven insights, reports, and dashboards.
• Links cyber threats to business outcomes and quantifies them in financial terms.

When compared to MetricStream, LogicGate Risk Cloud is more flexible with its no-code tools. Also, Risk Cloud is more focused on risks and automation while MetricStream encompasses all aspects of GRC.

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3. Onspring

Onspring is a modern GRC platform that automates many everyday processes to save time and effort for your employees. It uses efficient processes and coordinated strategies to build resilience in your operations. In the process, it also meets the compliance requirements of standards like CMMC and NIST.

Source: Onspring

Key Features

• Creates a comprehensive risk register and automates assessments and subsequent actions.
• Tracks vendors and integrates rankings to calculate a comprehensive risk score for each vendor.
• Generates live dashboards with key metrics and activity statuses.
• Automates lifecycle workflows and compliance testing.
• Onspring evaluates the impact of risks and tracks their mitigation.

Onspring offers separate modules for every GRC function, enabling organizations to create a tailored GRC product that meets their needs. MetricStream, on the other hand, is not so flexible but it takes a structured approach towards GRC.

Get a demo.

4. OneTrust

OneTrust is another well-known GRC platform that optimizes your risks while helping with compliance. It gathers all the risk and compliance requirements and converts them into simple and actionable tasks. OneTrust also makes it easy to communicate with your stakeholders to prioritize actions.

Source: OneTrust

Key Features

• Automates GRC processes and tasks for over 40 frameworks across multiple countries, making it a good choice for companies with a global presence.
• Maps risks, data, and controls for a comprehensive approach to risk management.
• Maintains an updated asset inventory using continuous data discovery and assessments.
• Provides measurable evidence to bring your non-compliance stakeholders on board.
• Reviews trends and performances to help you stay updated on emerging risks.

When compared to MetricStream, OneTrust is more focused on compliance and automation and provides specialized tools for privacy governance. In contrast, MetricStream is a broader risk management suite that can handle all aspects of GRC.

5. CyberSaint

CyberSaint is a cyber risk management platform that also helps businesses meet related compliance requirements. With its patented AI and actuarial data, CyberSaint improves your risk posture and helps you to better prepare for digital threats. It also provides visibility and helps garner support by translating cyber risks and impact into financial terms.

Source: CyberSaint

Key Features

• Creates an intuitive dashboard that’s benchmarked against industry peers.
• Harmonizes activities across multiple regulations using AI.
• Uses advanced solutions like siloed point and black box scoring to provide accurate insights.
• Connects the dots between risks, controls, and data for a complete picture.
• Generates heat maps, risk dashboards, and reports for a holistic view of risks.

CyberSaint is mostly geared for cybersecurity risks and compliance, though it can be extended to other areas. But if you’re looking for a GRC solution that spans all operational areas, MetricStream is a better choice.

Request a demo.

6. Riskonnect

Riskonnect is a comprehensive platform for managing risks and compliance across your organization. It connects dots from multiple sources and across many angles to provide a holistic view of risks and their potential impact on your organization. Using this information, you can take a data-driven approach to mitigate your risks.

Source: Riskonnect

Key Features

• Provides comprehensive insights into your risk metrics in real-time.
• Automates tasks and aggregates data to uncover risks.
• Taps into advanced analytics and machine learning to predict future risks and compliance changes.
• Supports third-party risk assessments and monitoring.

As the name suggests, Riskonnect is more focused on holistic risk management with a limited focus on compliance. However, MetricStream encompasses all GRC functions and provides comprehensive reports for decision-makers.

Schedule a demo.

7. Hyperproof

Hyperproof is an automated security and compliance platform that handles different aspects of risk and compliance so you can focus on the core aspects of your business. Its workflows are optimized end-to-end and they can be reused across multiple frameworks, thereby reducing the time and effort needed. Moreover, it scales well to meet your growing needs.

Source: Hyperproof

Key Features

• Collects, measures, prioritizes, and tracks risks through a single pane.
• Maps risk controls across frameworks.
• Seamlessly integrates with popular tools like JIRA and ServiceNow.
• Centralizes communication and provides comprehensive visibility.

Hyperproof is more focused on meeting compliance requirements while MetricStream is a full-scale GRC solution. Moreover, Hyperproof integrates better with leading platforms when compared to MetricStream.

Get a demo.

Thus, these are the top tools that are good alternatives to MetricStream’s risk and compliance capabilities.

Final Thoughts

In all, MetricStream is a powerful GRC platform with extensive enterprise-grade capabilities, but alternatives like AuditBoard, LogicGate Risk Cloud, and Riskonnect offer strong compliance and risk management features with varying levels of flexibility and ease of use. If automation and intuitive design are priorities, tools like Hyperproof and Onspring may be better suited. OneTrust and CyberSaint provide specialized risk and compliance solutions tailored for data privacy and cybersecurity.

Choose the right risk and compliance management tool based on your organization’s needs, budget, and existing processes.