The Silicon Review
MetricStream is the market leader in Governance, Risk, and Compliance (GRC). Through its enterprise platform and cloud software, the company enables enterprises across industries to drive exceptional business performance based on a foundation of good governance, trust, and integrity. MetricStream has been cited as a market leader in integrated risk and GRC technology by leading industry analysts. Its solutions are used by Fortune 500 and Global 1000 companies across industries and geographies to manage risks in a holistic and efficient manner. MetricStream is enabling banking and financial institutions to safeguard and add value to their customers’ investments. It helps healthcare companies to save lives and treat patients in the comfort of their homes and its solutions support air services companies in keeping travelers safe, on time, and comfortable.
In a colloquy with Mikael Hagstroem, President and CEO, MetricStream
Q. What inspires you to excel in your field of business?
What drives me personally is delivering impact to our clients and enjoying the lifelong trust and mutual learning that follows. Most companies want to do well but struggle to find the right balance between performance and integrity. Seeing how successful our clients are when they learn to leverage integrity for sustainable growth is truly inspiring.
Q. “Reputation is never built overnight.” How does your company maintain its reputation?
MetricStream has built its reputation over the years by focusing on sustainable outcomes and client impact. We have always been committed to our responsibilities and purpose-driven technology. Timing is also a key factor, as MetricStream has been a pioneer in the GRC market from the start.
Q. What are your company’s core values?
MetricStream’s culture is driven by three key values that have been fundamental in building the organization we are today and will continue to be the key pillars for us to succeed in the years to come.
Customer impact: Customers lie at the heart of what we do as a company. Through our customer engagement groups and support teams, we strive to empathize with our customers’ needs and perspectives to understand and act in a way that is in their best interests.
Teamwork: Everything that MetricStream has accomplished over the last decade is because of our incredible team of people, as well as our partners and customers, who collectively work with us towards common goals, knowing that we can count on each other.
Innovation: At MetricStream, we aren’t afraid to self-disrupt and re-invent, to question the status quo, and look at how we can do things differently, not just in our product engineering teams, but also in marketing, sales, and support. Our revolutionary M7 GRC Platform, GRC Cloud, GRC Journey program, etc. are a testament to our commitment to innovation.
Q. Do you believe that risks can lead to better business?
Businesses must take measurable risks in order to grow and explore different avenues. When risks are quantifiable, they can be factored into every decision made at every level of the organization. The hard part is quantifying qualitative risks. But that again lies at the core of what we at MetricStream do. We help clients through our native SaaS-based GRC platform and content libraries.
Q. How does MetricStream contribute to the competitive global IT platform?
MetricStream labs are at the forefront of GRC innovation, building a future-ready, cloud-enabled, continuously upgradable enterprise GRC platform and a set of solutions, as well as new technologies that leverage predictive analytics, mobility, and artificial intelligence.
We are the first company to launch a 4th generation GRC platform that is open, cloud-based, and designed for content sharing. Our GRC Cloud is leading the way in SaaS-based GRC deployments. Through our analytics, we’re building a true system of intelligence that combines external data (e.g., regulatory feeds), internal data (e.g., control test results), and predictive algorithms to deliver insights that drive business performance.
We’re also innovating with artificial intelligence bots that will help users suggest the best possible actions to mitigate risks and avoid compliance violations. The bots are also being used to build training-free front ends for front-line users.
“Customers come first.” How do you maintain your customers’ trust and loyalty?
MetricStream is a technology company, but our relationship with customers goes beyond simply providing GRC solutions. Through our GRC Journey methodology, we help customers develop a step-by-step blueprint for their GRC program based on the best practices and insights from our most successful customer journeys.
In addition, our bi-annual GRC Summits, as well as customer engagement initiatives such as MetricStream Special Interest Groups (mSIGs) and our Voice of the Customer program, coupled with knowledge sharing portals like ComplianceOnline.com and MetricStream University allow us to connect with customers on a deeper level with the sole focus of delivering greater value.
Mikael Hagstroem, President and CEO of MetricStream: Mikael brings decades of senior leadership experience in driving value through enterprise software, big data, and AI. He has renowned expertise in helping companies across a wide range of industries harness AI to reshape their business models, foster a culture of integrity, and unlock competitive advantage and rapid growth.
Previously, Mikael served as Partner and COO of McKinsey Analytics, where he helped build a world leading global AI team delivering distinct global impact. Prior to McKinsey, Mikael was President SAS International, where he led more than 5,000 employees across 48 countries and over 25 years grew a multibillion-dollar software business, contributing to SAS’ leadership in business analytics and risk intelligence.
Mikael currently serves on the executive committee of the United States Council for International Business. Previously, he served as chair of the World Economic Forum’s Global Agenda Council on Data-Driven Development and the chair of the Executive Council of the American Chamber of Commerce to the European Union.