Case Study: Major Energy Company achieves integrated, enterprise-wide risk management with MetricStream

A Major Energy Company Embraces a Holistic, Strategic Approach to Risk Management

A major U.S. energy company with a diverse mix of generation, supply and service businesses faced increasingly complex, interdependent risks and growing regulatory and stakeholder pressure. Its objective was to embed proactive risk management into everyday decision-making, but progress was hindered by siloed risk terminologies and processes, multiple disconnected systems, manual spreadsheet-based workflows, poor enterprise-wide visibility, and change-management risks during consolidation.

The company selected MetricStream’s Integrated GRC platform, implementing a single web-based ERM solution with top-down/bottom-up governance, a central risk repository, RCSA processes, issue management, dashboards, KRI alerts and automated workflows. The deployment eliminated five redundant systems, 300+ spreadsheets and more than 10 content sites, unified risk ratings and assessment methods, standardized controls testing, improved collaboration and transparency, reduced manual effort and errors, and gave executives clearer visibility to prioritize and manage enterprise risk.