Achieving Compliance with the Sunshine Act
Pharmaceutical and Medical Devices firms have to establish a sound system to record payments made to third parties to ensure compliance with “sunshine” provisions of the Patient Protection and Affordable Care Act, which were published by the Center for Medicare & Medicaid Services (CMS). The MetricStream solution enables drug and device companies to define and implement a standard enterprise-wide global policy for third party payments, facilitate the tracking of the various types of payments, monitor violations, trigger proactive remediation measures and accurately report to the CMS.
Audit for Reducing Medical Coding and Billing Errors
MetricStream Risk-based Audit Management Solution enables organizations to manage all aspects of auditing medical coding and billing practices minimizing the occurrences of claims rejection, financial penalties, regulatory investigations, and loss of revenue for physicians and medical practitioners.
Social Media Governance & Risk Management Solution
The rapid evolution of social media information such as posts, blogs, tweets into data and their viral nature is persuading organizations to put in place a framework to manage the social media risks arising out of violations of rules related to data privacy, data security, information confidentiality and others. MetricStream's path-breaking Social Media Governance & Risk Management Solution provides organizations with a plug-and-play solution to align the detection of social media risk, analysis, and mitigation. Trade Surveillance Solution - Solution Sheet
MetricStream solution for Trade Surveillance allows organizations to control violations in insider and personal trading, and helps meet trade compliance mandates set by FINRA, Regulation National Marketing System (NMS), Markets in Financial Instruments Directive (MiFID), European Union Market Abuse. The solution can seamless integrate with specialized trading platforms to extract data under review and provide necessary risk intelligence to verify trader certifications, authorize trade permits and monitor trade transactions. Compliance Audit Management
Effective compliance with regulations, standards, and procedures drive the need for ongoing auditing in organizations. MetricStream's Compliance Audit Management is a comprehensive solution that enables companies to manage compliance audits within organization as well as audits of external entities, such as suppliers, service providers and contractors. Supplier Performance Management
Managing supplier performance is critical in supply chain governance for organizations dealing with multiple suppliers. The globalized manufacturing and sourcing mantra has made companies focus on their core competencies and outsource the rest of the non-core business processes to suppliers across the globe. Companies in the service industry such as banking, financial services and IT have also started realizing significant advantages in sourcing goods and services from multiple suppliers while benefiting through competitive pricing and enhanced services. The MetricStream Supplier Performance Management solution provides companies better visibility into supplier performance, offers benefits to uncover and remove Cost of Poor Quality (COPQ), reduces order cycle times and charge backs for nonconforming material and supplies and aligns processes with suppliers. Gifts and Entertainment Ethics and Compliance Solution - Solution Sheet
With MetricStream GEE solution, companies can establish an automated Gift and Entertainment policy available for reference. Policy guidelines can also be customized for multi-lingual and multi-currency environments. Disclosure mandates can be enforced with detailed filing of forms, followed by a closed-loop approval mechanism aligned with fraud detection capabilities for implementing stronger internal controls. Policy owners can generate drilled down reports and dashboards to conduct a comprehensive risk assessment of irregularities, analyze program effectiveness and plan for remedial action. Continuous Controls Monitoring
MetricStream solutions’ Continuous Control Monitoring capability monitors a host of controls within the ERP system and other financial applications to improve financial governance, verify access and transactional rules, and automate risk management processes. The solution helps companies identify Segregation of Duty violations to monitor fraud or failure, enables rules-based governing for financial transactions, improves performance through automated detection of control exceptions, ongoing testing, Continuous Monitoring, and reduces the cost of auditing through Continuous Audit of the automated controls in enterprise applications. Code of Conduct Development, Distribution, and Compliance: Strengthen Enterprise-wide Compliance with Your Code of Conduct through an Integrated, Collaborative, and Streamlined Approach - Solution Sheet
Most organizations have a code of conduct which serves as a key tool to strengthen corporate compliance, and prevent unethical behavior. The challenge lies in implementing the code not only across employees, but also a vast and complex chain of suppliers, vendors, and business associates. If organizations do not have effective processes for training these entities on code of conduct compliance, monitoring compliance, and managing and remediating issues, they could be held responsible for unethical behavior in the organization or among suppliers. MetricStream provides a comprehensive solution to simplify and strengthen and streamline code of conduct development and distribution, training management, risk and control management, audit management, and issue and corrective action management. Conflicts of Interest: Building a Framework for Managing Individual and Institutional Conflicts of Interest - Solution Sheet
With increased complexity and lack of transparency in business transactions, issues related to 'Conflicts of Interest' (COI) have come to the forefront and are driving institutions to establish dedicated COI programs to manage them. However, the COI ambiguity in events such as affiliations, financial and competing interests, gifting practices, bribery, and supplier contracts, can cause a violation of fiduciary duties and endanger the effectiveness of such a program. Companies also struggle to set a universal COI policy that can scale to address all business entities and include internal and external roles and responsibilities. With MetricStream solution companies can assess the risk for all potential COI events and integrate them in the Program Policy guidelines. In order to ensure effectiveness, the program can be regularly reviewed and updated as per changing risk assessments. Building a Streamlined and Collaborative Compliance Program for Conflict Minerals Reporting
- Solution Sheet
MetricStream's Conflict Minerals Management solution provides an integrated and platform based approach to ensure seamless collaboration, transparency, close monitoring and supplier compliance, and brings in more efficiency in the overall end-to-end supply chain governance and compliance process. Compliance with Sarbanes Oxley and equivalent Statutes the world over
Today, companies have absorbed the costs of SOX compliance and are focusing on implementing improved, simplified and cost-effective processes to increase efficiency and enhance performance of SOX compliance initiatives. The time is ripe for senior management members and auditors to revamp their SOX compliance framework, and collaborate more intensely to determine if they can realize greater efficiencies and value from their compliance effort. Enterprise Risk Management
MetricStream provides an integrated and flexible framework for documenting and assessing risks, defining controls, managing controls and assessments, identifying issues and implementing recommendations and remediation plans. The application provides end-to-end functionality for managing the complete risk management process. External Audits Solution Sheet
MetricStream Audit Management Solution provides a centralized framework and an integrated approach to manage the complete portfolio of external audits across multiple clients. The solution offers the flexibility to support various types of external audits, including integrated financial statement audits, statutory audits, regulatory audits, compliance audits, IT audits, operational audits, performance audits and quality audits. Compliance with Sarbanes Oxley and equivalent Statutes the world over
Today, companies have absorbed the costs of SOX compliance and are focusing on implementing improved, simplified and cost-effective processes to increase efficiency and enhance performance of SOX compliance initiatives. The time is ripe for senior management members and auditors to revamp their SOX compliance framework, and collaborate more intensely to determine if they can realize greater efficiencies and value from their compliance effort.
Enable a Systematic, Efficient and Intelligent Risk-based External Audit with the Market-leading MetricStream Audit Management Solution
MetricStream Audit Management Solution provides a centralized framework and an integrated approach to manage the complete portfolio of external audits across multiple clients. The solution offers the flexibility to support various types of external audits, including integrated financial statement audits, statutory audits, regulatory audits, compliance audits, IT audits, operational audits, performance audits and quality audits.
Safety and Quality Management Solutions for the Airline Industry
As the recent findings of non-compliance and the subsequent penalties imposed on airlines by the Federal Aviation Administration (FAA) have highlighted, lack of adequate quality and safety management systems can result in significant erosion of brand image and impact profitability. Leading airlines are implementing MetricStream solutions to integrate critical business processes to achieve new levels of productivity, streamline regulatory compliance and ensure effective safety, quality and risk management. Environmental Health and Safety Solution Sheet
Workplace safety is emerging as one of the key risk management and regulatory compliance areas. MetricStream's solution for EHandS enables organizations to effectively comply with regulatory mandates by providing a common framework and an integrated approach for risk management, document control, compliance training, ongoing auditing, as well as recording and reporting of safety issues and events and the resulting corrective actions. IT GRC Solution
Information technology is increasingly becoming the backbone for business operations of companies. However, IT is getting impacted due to growing concerns such as malicious code, system intrusion, data threats, IP violations and internal IT operational risks. Food and Beverage Solution Sheet
Mandates by the FDA and the USDA such as HACCP procedures and ISO 22000-based food safety management systems are the basis for many quality and compliance programs in the food and beverage industry. MetricStream solutions that enable food and beverage companies to capture, route, correct, prevent, and analyze system-wide issues between their organization and their trading partners. SOX Compliance Solution Sheet
Organizations that have adopted technology solutions have been able to lower their SOX Compliance costs, reduce their non-compliance risk and free-up personnel to focus on more value-added activities. MetricStream provides a proven end-to-end solution that enables companies to sustain SOX Compliance at significantly lower costs and reduce the risk of non-compliance. ISO 9000 Compliance Solution Sheet
Many organizations are deploying industry standard quality management methodologies based on ISO 9000 or related specifications developed for specific industries such as TS 16949 for the automotive industry and ISO 13485 for the medical device industry. MetricStream offers the industry's most advanced and comprehensive suite of quality management solutions ideally suited for companies with multiple product lines and service offerings. Audit Management Datasheet
Effective audit management drives continuous improvement by ensuring that established product and processes quality requirements are being met. The efficiency of audit execution and integration of the audit process with the overall enterprise-wide quality management system are critical for successful audit management.
Banking and Financial Services Solution Sheet
As a result of the growing regulatory environment and a greater focus on enterprise risk management, leading financial institutions are defining governance, risk and compliance (GRC) processes to provide broad oversight and management of risk and compliance activities. The MetricStream Compliance Platform becomes the nucleus of a corporate governance ecosystem, coordinating all governance, risk, compliance and quality management activities throughout the enterprise via a single management system.
CAPA Management Software
Corrective Action/Preventive Action (CAPA) is the core of a sound quality management system and is central to a closed loop, continuous improvement process. MetricStream CAPA is a comprehensive solution that enables companies to streamline their CAPA processes across the enterprise.
Though principles of a CGMP-compliant change control system are widely accepted, companies cannot maintain a robust change control process without appropriate computer systems and tools. MetricStream Change Control module is a comprehensive solution for change management and control across departments and functions for achieving operational excellence and regulatory compliance. Change Management
Though companies strive for stability and consistency in their operations, changes to validated procedures, business processes and product designs are unavoidable. MetricStream Change Management Solution is a comprehensive system for change management and control across departments and functions.
Clause 49 Compliance
The regulatory requirement is not a new phenomenon - The energy companies have faced rules, standards and codes ever since they came into picture. But the important variable today is the rigor regulators have applied in fulfilling their regulatory responsibilities, making the regulatory environment very complex and severe; leaving the energy companies grappling with ways on how they go about demonstrating, documenting and reporting compliance.
MetricStream Complaints Management module is a comprehensive solution for managing complaints from customers, channel partners, and even within departments. The real-time visibility provided by MetricStream enables organizations to track each complaint through its lifecycle from initiation to closure - following the appropriate process to ensure that nothing slips through the cracks.