MetricStream, a provider of Governance, Risk, and Compliance (GRC) Apps, has entered into a partnership with, Australian Information Security company Loop Security, to deliver software solutions and services.

“The Australia and New Zealand economy is increasingly impacted by changes in global markets, and burdened by complex international regulations and mandates which continue to proliferate in industries spanning Healthcare, Financial Services and Retail.

“As organisations look to the future, it is important that they focus their efforts now on building strong risk management, comprehensive compliance, and collaborative quality management programs,” said. Patrick Butler, CEO of Loop Security.

“We are delighted to partner with MetricStream, and believe their GRC and quality management solutions will help organisations across the region build world-class GRC programs that improve business decision-making and drive business performance.”

“IT security and GRC automation spend in Australia and New Zealand is rising; a tell-tale sign of the mounting regulatory burden, as well as the rise of cybersecurity incidents over the last few years,” said Mr. Sudeep Chatterjee, Senior Director of APAC Partnerships and Channels at MetricStream. “MetricStream’s cutting edge GRC platform and industry leading GRC applications, combined with Loop Security’s infrastructure and security expertise, will help leading organizations in Australia and New Zealand strengthen their IT risk posture, protect their brands and reputations, and ensure their market leadership today and into the future.”  

In May 2016, MetricStream, was been granted a US Patent for “System and Method for Rule Based Classification of a Text Fragment.”

The patent covers MetricStream’s creation of a classification system that classifies text fragments and implements domain rules, which is different than a standard natural language processing technique that uses the probabilistic characteristics of the language.

The MetricStream innovation provides a classification system that classifies text (e.g., one or more sentences) obtained from multimedia content (e.g., digitized handwritten notes, digitised spoken words, digitised audio content, texts from social media, email, etc.).

Commenting on the patent, MetricStream Chief Technology Officer Vidya Phalke said, “This patent is a significant milestone for MetricStream, demonstrating the depth of our analytics capabilities, which include a significant number of use-cases in extracting risk intelligence from unstructured data.

“In today’s hyper-connected world, marked by rising mobility and social media usage, organisations are looking to the enabling role of technology to turn big data across data sources into meaningful insights that support better decision-making and business performance.”

MetricStream is headquartered in Palo Alto, California.

www.metricstream.com