Solutions for Corporate Governance, Enterprise Risk Management (ERM), Regulatory Compliance, Internal Audit, Quality Management and Policy Management drove MetricStream’s expanded presence in financial services, energy and utilities, life sciences and high-tech verticals. MetricStream was selected by several marquee customers including a Fortune 1000 semiconductor manufacturer, a premier health insurance company serving several million members, a global pharmaceutical corporation with over 20,000 employees and one of the world's leading financial firms operating in more than 50 countries. GRC revenues in Q1 2009 more than doubled compared to a year ago. MetricStream’s expansion into the international markets continues with significant customer wins and successful project implementations in Europe, Middle East and Asia in addition to its expanding market share in North America.
"We see a major trend in large companies investing to upgrade the technology infrastructure being used to carry out GRC programs,“ says Gaurav Kapoor, CFO and General Manager at MetricStream," Customer are migrating from their legacy systems, point applications and paper-based procedures to integrated, platform-based risk and compliance management systems.” Commonly realized benefits from an integrated GRC platform are better enterprise-wide visibility, a transparent and collaborative environment and data-driven decision making.
To keep pace with the rapidly evolving business processes and to successfully support complex enterprise requirements, MetricStream continued to make investments in its platform that serves as the GRC run-time engine as well as in its best-in-class applications for ERM, Audit Management, Compliance Management, Quality Management, IT GRC, Issue Management, Loss Management and Policy and Procedure Management. These offerings are further differentiated though integration with MetricStream’s ComplianceOnline.com portal for regulatory intelligence, content and training.
"MetricStream’s ability to help corporations in improving business performance through GRC has been the key driver behind our growth," says MetricStream CEO, Shellye Archambeau. "As companies redefine their business practices for greater control and resiliency, MetricStream will play a critical role in enabling customers to weather the current slowdown as well as to seize the opportunities that lie ahead."
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, NASDAQ, UBS, 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.
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