AuditBoard vs MetricStream

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Our analysts compared AuditBoard vs MetricStream based on data from our 400+ point analysis of Risk Management Software, user reviews and our own crowdsourced data from our free software selection platform.

AuditBoard Software Tool

Product Basics

AuditBoard is a comprehensive software solution designed to streamline risk management and compliance tasks. It is particularly well-suited for industries such as finance, healthcare, and manufacturing, where regulatory compliance and risk assessment are critical. The platform offers robust features like real-time risk monitoring, automated workflows, and customizable dashboards, which enhance efficiency and accuracy in managing risks. Users appreciate its intuitive interface and seamless integration capabilities, which set it apart from similar products. AuditBoard's ability to centralize risk data and provide actionable insights is a significant advantage, making it a preferred choice for organizations aiming to enhance their risk management processes. While specific pricing details are not publicly available, potential users are encouraged to contact SelectHub for a tailored pricing quote that aligns with their specific requirements. Overall, AuditBoard is recognized for its effectiveness in simplifying complex risk management tasks.
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MetricStream leverages a purpose-built platform to help organizations manage enterprise risk, cybersecurity, compliance and audits across various industries. Its AI generates deep domain expertise and actionable insights by analyzing embedded content and integrated data. Machine learning ensures its adaptability and scalability to future obligations. Its advanced reporting and analytics modules analyze business and market trends to generate practical, topical and real-time intelligence for agile business decisions and better stakeholder engagement.

It centralizes all data under one environment in a federated data model to remove information silos and enable data correlation and visualization. Users can create new APIs or integrate third-party ones through its intuitive dashboard. Provides predictive models for more intelligent threat detection. It automates incident evidence collection, document generation and corporate hierarchy mapping for streamlined task ownership and accountability.
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$75,000 Annually, Quote-based
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Tailored to your specific needs
$75,000 Annually, Quote-based
Get a free price quote
Tailored to your specific needs
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Product Assistance

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Knowledge Base
24/7 Live Support
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Product Insights

  • Streamlined Collaboration: AuditBoard facilitates seamless communication among team members, allowing for real-time updates and shared access to documents, which enhances teamwork and reduces email clutter.
  • Centralized Data Management: By consolidating all risk management data in one platform, AuditBoard eliminates the need for disparate systems, making it easier to track and analyze information.
  • Enhanced Risk Visibility: The software provides comprehensive dashboards and reports that offer clear insights into risk exposure, enabling proactive decision-making and strategic planning.
  • Automated Workflows: AuditBoard automates repetitive tasks such as reminders and follow-ups, freeing up valuable time for team members to focus on more critical analysis and strategy development.
  • Regulatory Compliance Support: With built-in frameworks and templates, AuditBoard helps organizations stay compliant with industry regulations, reducing the risk of penalties and enhancing audit readiness.
  • Customizable Reporting: Users can tailor reports to meet specific needs, ensuring that stakeholders receive relevant and actionable information that aligns with their objectives.
  • Scalability: As organizations grow, AuditBoard scales effortlessly, accommodating increased data volume and complexity without compromising performance or usability.
  • Improved Accountability: The platform assigns clear responsibilities and deadlines, fostering a culture of accountability and ensuring that tasks are completed efficiently and on time.
  • Data-Driven Insights: Advanced analytics tools within AuditBoard provide deep insights into risk trends and patterns, empowering organizations to make informed, data-driven decisions.
  • Secure Data Handling: With robust security measures in place, AuditBoard ensures that sensitive information is protected against unauthorized access, maintaining data integrity and confidentiality.
  • Integration Capabilities: AuditBoard seamlessly integrates with existing systems such as ERP and GRC platforms, enhancing functionality and ensuring a smooth flow of information across the organization.
  • Cost Efficiency: By reducing the need for multiple software solutions and minimizing manual processes, AuditBoard helps organizations save on operational costs while maximizing productivity.
  • Continuous Improvement: The platform supports ongoing refinement of risk management processes through regular updates and user feedback, ensuring that organizations remain agile and responsive to change.
  • User-Friendly Interface: With an intuitive design, AuditBoard is easy to navigate, reducing the learning curve for new users and increasing overall adoption rates across the organization.
  • Real-Time Monitoring: Continuous monitoring capabilities allow organizations to detect and respond to risks as they arise, minimizing potential impacts and enhancing resilience.
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  • Minimize Losses From Risk Incidents: Improve the accuracy of risk detection measures and accelerate growth using real-time risk intelligence. 
  • Improve Brand Reputation: Eliminate the risk of non-compliance with round-the-clock tracking of regulatory requirements, compliance risks, controls assessments and mandates. 
  • 360-Degree Security: Cover all blind spots, especially third-party vendors and suppliers, with continuous performance monitoring, risk reports and lifecycle management. 
  • Automated Control QA: Be the first to identify failing controls with autonomous and automated control testing, reporting and alerts. 
  • Self-service Reporting: Create custom reports with access to cross-product Insights and the declarative data authorization framework. 
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  • Centralized Risk Management: Consolidate all risk-related data in one platform, allowing for streamlined tracking and analysis.
  • Automated Risk Assessment: Utilize built-in tools to automate the risk assessment process, reducing manual effort and increasing accuracy.
  • Customizable Dashboards: Create personalized dashboards to visualize key risk metrics and trends, tailored to specific organizational needs.
  • Real-Time Collaboration: Facilitate seamless communication among team members with integrated collaboration tools, ensuring everyone stays informed.
  • Comprehensive Audit Trails: Maintain detailed records of all changes and actions taken within the system, enhancing transparency and accountability.
  • Risk Heat Maps: Generate visual representations of risk levels across different areas, aiding in quick identification of high-risk zones.
  • Regulatory Compliance Tracking: Keep track of compliance requirements and deadlines with automated alerts and reminders.
  • Integration Capabilities: Connect with other enterprise systems such as ERP and GRC platforms to ensure data consistency and reduce duplication.
  • Role-Based Access Control: Assign specific permissions to users based on their roles, ensuring sensitive information is only accessible to authorized personnel.
  • Incident Management: Log and manage incidents efficiently, with tools to track resolution progress and analyze root causes.
  • Risk Register: Maintain a comprehensive list of identified risks, complete with detailed descriptions, potential impacts, and mitigation strategies.
  • Scenario Analysis: Conduct what-if analyses to evaluate the potential impact of different risk scenarios on business operations.
  • Audit Planning and Scheduling: Plan and schedule audits with ease, using templates and automated workflows to streamline the process.
  • Document Management: Store and organize all relevant documents in a centralized repository, ensuring easy access and retrieval.
  • Data Analytics and Reporting: Leverage advanced analytics to generate insightful reports, helping stakeholders make informed decisions.
  • Mobile Accessibility: Access the platform from mobile devices, allowing for risk management on-the-go.
  • Training and Support: Benefit from comprehensive training resources and responsive support to maximize the platform's utility.
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  • Centralized Risk Repository: Navigate enterprise risk with pre-defined relationships across incidents, assets, processes, regulations and more. Securely store all risk information in a centralized federated data framework and intelligent content libraries. Create and standardize an integrated risk taxonomy.  
  • AppStudio: Create, extend and configure various applications and products to ensure flexibility and scalability of business processes. 
  • APIs: Design new APIs in compliance with OpenAPI. Integrate with third-party applications via intuitive Business APIs. 
  • Artificial Intelligence: Leverage predictive analytics and semantic search functionalities to anticipate future risks. 
  • Continuous Control Monitoring: Automatically collect evidence in the event of vulnerabilities and workplace incidents. Set up controls to cover against manual assessments with a limited sample size. 
  • Reporting and Analytics: Use the intelligent dashboard to run reports via preconfigured extensions or existing BI tools. Leverage in-depth insights and data visualizations to get a 360-degree view of risk. Define risk parameters and attach cautionary values to risks. 
  • Hierarchy Mapping: Chalk out a map of the corporate ladder, geographies and business units. Provide risk owners with complete visibility over risk and compliance postures, risk preparedness and resilience. 
  • Risk and Control Assessments: Run regular risk and control assessments according to preset schedules. Test the efficacy of risk control measures. Evaluate, aggregate and score inherent and residual risks. 
  • Business Impact Analysis: Analyze the potential impact of disruptions on various business processes via BIA surveys. Utilize Map Recovery Time Objective and Recovery Point Objective to assign a criticality score to essential operations. 
  • Risk Monitoring: Track KRIs, KPIs and control indicators for potential threats. Set up alerts based on risk thresholds. 
  • Operational Loss Event Management: Manage risk incidents and losses across multiple organizations in compliance with regulations such as the Basel Accords. 
  • Disaster Management: Turn early disaster data into actionable intelligence. Proactively monitor third-party suppliers and critical business processes for warning signs. Improve the organization’s situational awareness and resilience. 
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Product Ranking

#10

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Risk Management Software

#49

among all
Risk Management Software

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

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Audit Management Business Continuity Management Compliance Incident Management Operational Risk Management And IT Security Platform Capabilities Policy Management Regulatory Management Reports And Dashboards Risk Management Vendor Risk Management 89 99 100 89 100 100 98 100 83 100 95 0 25 50 75 100
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User Sentiment Summary

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Great User Sentiment 37 reviews
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80%
of users recommend this product

MetricStream has a 'great' User Satisfaction Rating of 80% when considering 37 user reviews from 1 recognized software review sites.

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4.0 (37)

Awards

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SelectHub research analysts have evaluated MetricStream and concluded it earns best-in-class honors for Business Continuity Management, Compliance, Operational Risk Management and IT Security, Platform Capabilities and Regulatory Management.

Business Continuity Management Award
Compliance Award
Operational Risk Management and IT Security Award
Platform Capabilities Award
Regulatory Management Award

Synopsis of User Ratings and Reviews

Streamlined Audits: AuditBoard helps make audits more efficient and effective by bringing together audit planning, risk assessments, and testing into a single system.
Easy to Use: Most users report that the platform is intuitive and easy to navigate, even for those who are new to using audit management software.
Improved Collaboration: AuditBoard facilitates better communication and collaboration among audit teams and stakeholders. This is done through features like real-time dashboards and automated workflows.
Valuable Insights: The platform provides businesses with valuable insights into their risk and compliance posture. This is achieved through data analytics and reporting features that help identify trends and areas for improvement.
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Centralized Platform: MetricStream provides a single platform for managing various GRC activities, including risk management, compliance, audit, and policy management. This can help organizations to streamline their processes and improve efficiency.
Flexibility and Customization: The platform is highly configurable, allowing organizations to tailor it to their specific needs and requirements. This includes the ability to create custom workflows, reports, and dashboards.
Scalability: MetricStream is a scalable solution that can grow with an organization's needs. This makes it a suitable choice for both small and large organizations.
Reporting and Analytics: The platform provides robust reporting and analytics capabilities, allowing organizations to gain insights into their GRC activities and make data-driven decisions. This includes the ability to generate custom reports, dashboards, and heat maps.
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Reporting Limitations: The built-in reporting features might lack flexibility, requiring integration with other business intelligence tools like Power BI for more insightful analysis.
Issue Management: Some users have reported that the issue management module is cumbersome and doesn't seamlessly integrate with other modules for comprehensive reporting.
Customization Constraints: While AuditBoard offers customization options, certain areas like the policy module might lack the desired flexibility for tailoring workflows, such as enforcing sequential review processes.
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Steep Learning Curve: MetricStream's interface can be overwhelming for new users due to its complexity and extensive features, often requiring significant training and onboarding time.
Customization Challenges: While MetricStream offers customization options, implementing them can be technically demanding and may necessitate specialized IT skills or external consultants, potentially leading to increased costs and implementation timelines.
Reporting Limitations: Generating specific or ad-hoc reports can be cumbersome, as the platform's reporting capabilities may not always align with the unique needs of every organization, requiring additional effort to extract and manipulate data.
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Is AuditBoard truly on board with meeting the needs of risk management professionals? User reviews from the past year suggest a resounding "yes," but with a few caveats. AuditBoard consistently earns praise for its user-friendly interface, making it a breeze to navigate even for those new to the world of risk management software. Users particularly appreciate the intuitive design and ease of use, highlighting how it simplifies complex tasks like documenting findings and managing workstreams. This ease of use is crucial, as it allows teams to quickly adapt to the software and maximize their efficiency without a steep learning curve. However, some users have reported that AuditBoard can be a bit sluggish when dealing with large datasets, which could pose a challenge for larger organizations or those with complex data requirements. Additionally, while customer support is generally regarded as responsive and helpful, there have been mentions of inconsistencies, possibly due to team turnover. This inconsistency, though not a dealbreaker, could lead to occasional frustrations when seeking assistance. Despite these minor drawbacks, AuditBoard stands out for its robust reporting capabilities, automation features, and seamless integration with other systems. Users rave about how these features streamline their workflows, saving them valuable time and reducing the risk of errors. For instance, the ability to generate custom reports with detailed insights into risk assessments and audit findings empowers organizations to make informed decisions and proactively mitigate potential issues. Overall, AuditBoard emerges as a powerful and intuitive risk management solution best suited for organizations of all sizes looking to enhance their risk management processes. Its user-friendly interface, coupled with its comprehensive features and generally strong customer support, makes it a compelling choice for businesses seeking to streamline their risk management operations and elevate their overall risk management posture. However, organizations dealing with massive datasets might need to consider the potential for slower performance.

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MetricStream has emerged as a popular choice for organizations seeking a comprehensive solution. User reviews from the past year highlight its strengths in ease of use, flexibility, and scalability, making it a valuable tool for managing various risks, including compliance, governance, and operational risks. The platform's intuitive interface and customizable features allow users to tailor it to their specific needs, while its ability to handle large amounts of data ensures it can grow alongside the organization. However, some users have pointed out that MetricStream's implementation process can be complex, requiring careful planning and potentially additional resources. Additionally, there have been reports of slow support response times, which can be frustrating for users facing urgent issues. Despite these drawbacks, MetricStream remains a strong contender in the GRC software market, particularly for organizations with complex risk management needs and the capacity to invest in proper implementation and ongoing support. Its ability to centralize risk data, automate workflows, and provide real-time insights empowers businesses to make informed decisions and proactively mitigate potential threats. For organizations seeking a robust and adaptable GRC solution, MetricStream offers a compelling option, but careful consideration of its implementation and support aspects is crucial for a successful experience.

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