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MetricStream Posts Strong Surge in Growth in First Half of 2008

Large customer wins and market recognition propel MetricStream's success in serving the rising demand for Governance, Risk, Compliance and Quality Management solutions

July 23, 2008 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, today announced that it has recorded outstanding growth in the first half of 2008 with the quarter ending June 30 being the largest ever quarter with respect to revenues and enterprise deployments.

The combination of customer wins, expanded usage of the MetricStream platform by existing customers, unmatched technology innovation, and continued recognition by analysts has enabled MetricStream to further strengthen its leadership position in the marketplace. Key accomplishments in the six months period include:

  • The analyst community has highlighted the strategic approach and compelling value of MetricStream’s solutions in their reports. Most recently, Gartner placed MetricStream in the Leaders’ Quadrant in its recently released report “ Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms (EGRC) ”. In addition, MetricStream was also named as a “Cool Vendor” in a separate Gartner report titled “Cool Vendors in Compliance and Risk Management, 2008” published in April 2008. Gartner’s recognition follows Forrester naming MetricStream as a 'Leader' in the Forrester Wave report on Enterprise Governance, Risk and Compliance Platforms early this year. The Forrester report highlighted the flexible platform and strong capabilities in all core GRC areas.
  • MetricStream continued to gain customer traction with new marquee global customers from diverse verticals including energy & utilities, banking & financial services, retail, high tech, automotive manufacturing, life sciences and healthcare. Prominent wins included several large energy and utility companies, one of the world's top 5 food & beverage brand, a global retail chain and a large international bank among several others. MetricStream continued its international expansion by winning new customers in Canada, Middle East, Africa, South East Asia and India.
  • Within thought leadership forums and industry associations, MetricStream took a leading role in advocating GRC as a key component of business strategy. Most recently, the Open Compliance and Ethics Group (OCEG) named MetricStream as a Charter Member to its Technology Council which was formed to address the strategic, operational and technical issues that professionals face when applying information technology (IT) to governance, risk, compliance (GRC) and ethics management.
  • ComplianceOnline.com, the leading, community-based resource for alerts, best practices, training and other information related to compliance and quality, also posted strong growth of over 200% in terms of subscribers during the first half of 2008. New areas of coverage on the portal include Green Compliance, Trade & Logistics Compliance, and EH&S. ComplianceOnline began offering a set of courses pre-approved for RAC recertification credits from RAPS – the leading worldwide member organization devoted to the Regulatory Affairs profession.

“We have seen change in the business environment in early 2008. The effects of the subprime crisis and the looming economic slowdown accentuate the need to have tighter controls and stronger risk management strategies in place. Also, the role of regulators and corporate boards are being redefined requiring companies to overhaul their GRC infrastructure”, said Shellye Archambeau, CEO for MetricStream. “As we move through 2008, we are continuing to innovate through our expanding product suite, dynamic thought leadership and improved geographical reach to build on our vision of an integrated GRC and Quality Management solution for our customers.”

About MetricStream
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Solutions for global corporations. MetricStream solutions are used by leading corporations such as Pfizer, Philips, American Airlines, NASDAQ, SanDisk, BP, Entergy, Subway, Fairchild Semiconductor, Hitachi and TaylorMade-Adidas Golf in diverse industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a million compliance professionals worldwide via the ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.

Media contact:
pr@metricstream.com