September 17, 2009 | Palo Alto, California: MetricStream Inc., the market leader in the enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions today announced that a Canada-based Global Oil & Gas Company has selected MetricStream for supplier governance through quality assessments, audits, inspections and performance management of its suppliers.

The client is a global energy leader involved in the exploration, development, production and marketing of crude oil, natural gas and power with world-wide operations. The complex oil and gas exploration and development operations involve collaborating with numerous suppliers and active engagement with suppliers is critical for meeting goals for quality, compliance, governance and environmental protection. MetricStream Supplier Governance solution will support functional areas such as Supplier Quality Assessment, Supplier Audits, Product Inspection, Quality Surveillance, Modularization, Construction Inspection and Acceptance Certification for the customer. By replacing paper-based and manual processes with the web-based MetricStream solution, the client will realize the following benefits:

  • Reduced Cost of Poor Quality: Enhanced system support will provide superior information for better and timely decisions to address quality issues, minimizing the impact on costs and schedule
  • Improved Issue Management: Efficient monitoring, classification, escalation, resolution and reporting of quality issues will help achieving project objectives and deliverables
  • Enhanced Decision Making: Current and complete information will allow more confident decisions based on an objective collection of evidence and facts, supported by metrics and reporting
  • Better Communication: Improved communication and data sharing between the quality management team, 3rd party inspectors, partners, suppliers and other stakeholders
  • Process Efficiency: Increased efficiency of existing supplier quality and performance management processes by automating and integrating existing operational practices
  • Resource Optimization: Better use of human resources dedicated to value added tasks, such as assessment and decision making, versus manual administration and organization
  • Continuous Improvement: Centralized quality issue tracking will develop into a knowledge base for potential improvements across the organization
  • Enhanced Supplier Relationships: Sharing performance results and areas for improvement with suppliers will lower the cost of poor quality and strengthen the partnering relationships

Deployed at major energy, oil and gas companies, MetricStream provides an industry leading platform to drive enterprise-level Governance, Risk and Compliance (GRC) and Quality Management programs through configurable workflows, real-time reporting and embedded best practices. With a broad solution footprint, MetricStream facilitates automation in critical areas such as Internal Audit, Policy Management, Financial Controls, IT GRC, Ethics & Issue Management, Nonconformance Recording, Corrective Actions (CAPA), Quality & Compliance Audits, Occupational Health & Safety and Environmental Compliance.

About MetricStream

MetricStream is the independent market leader in enterprise cloud applications for governance, risk, compliance (GRC), and quality management. MetricStream apps and software solutions improve business performance by strengthening risk management, corporate governance, regulatory compliance, audit management, vendor governance, and quality management for organizations across industries, including banking and financial services, health care, life sciences, energy and utilities, consumer brands, government, technology, and manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and GRC innovation center in Bengaluru, India, and sales and operations support in 12 other cities globally.(

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