July 30, 2010 | Palo Alto, California: MetricStream, Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced that one of the world’s largest payment processors has chosen MetricStream to automate and streamline its internal audit program. MetricStream's software solution will help the payment processor manage risk better, achieve sustainable compliance and deliver improved business assurance. The system will integrate audit planning, execution and reporting across global operations, improve collaboration and deliver significant cost savings for the internal audit group.

As a leading financial company, the payment processor fuels economic growth and development by linking thousands of financial institutions, businesses and cardholders across the globe. It offers a wide variety of cards and sophisticated transaction processing services, while promoting new, safer and more convenient ways to make payments from anywhere, at anytime. The company deals with such a wide network of services, products, business partners and merchants, that it requires a robust audit function to manage risks.

In the wake of the 2008-09 financial crisis, auditing and risk management have gained increasing importance. Companies are realizing that the key to avoid future crises is to ensure that their risks and internal controls are continuously and rigorously assessed and monitored. Internal auditors play a significant role in this process, providing insights and advice on business operations.

MetricStream has provided leading audit, risk and compliance management solutions for top financial service organizations, including global banks, private equity firms, stock exchanges, reserve banks and insurance companies. MetricStream solutions have enabled these organizations to meet tremendous challenges in the face of increasingly complex risks and regulations.

Based on its proven track record in the financial sector, MetricStream was chosen by the payment processor to institute a systematic and consistent solution for its internal audit program. With MetricStream’s solution, the company will achieve significant savings by shifting audit management from a manual, paper-based process to an automated, workflow-driven one. Instead of conducting audits in silos across the organization, the company can now integrate audits through a single, centralized platform.

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.(www.metricstream.com).

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