January 05, 2011 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance solutions, today announced that BAE Systems, Inc. has chosen MetricStream Internal Audit Management solution to automate and streamline its risk-based internal audit program and International trade compliance initiatives.

BAE Systems, Inc., the U.S. subsidiary of BAE Systems plc, is a premier global defense and security company that focuses on providing a wide array of solutions to the changing needs of the U.S. government including the Department of Defense and civil agencies.

BAE Systems selected MetricStream after an exhaustive evaluation of leading Governance, Risk, Compliance and Audit management solution providers, with an emphasis on risk management, compliance with government regulations and governance in addition to end-to-end functionality for managing the complete audit lifecycle.

The internal audit function at BAE Systems supports the company's board of directors in assessing the effectiveness of internal controls.

By implementing MetricStream, BAE Systems will adopt a fully-integrated audit management system with documentation and reporting capabilities tailored to suit the precise needs of BAE Systems internal audit function.

MetricStream GRC solution implementation at BAE Systems includes the concepts of strategic planning, operational management and internal controls into auditing and assessments by mapping operational risks to industry-standard frameworks such as COSO and COBIT, tracking Key Performance Indicators (KPIs), and streamlining operational risk management efforts with a centralized risk register and a risk mitigation strategy for each site, business area, sector and corporate level.

"BAE Systems' mission is delivering sustainable relationships that are built on customer focus, responsible behavior, financial performance and excellent execution of programs," said Michelle Lamberton, vice president of Internal Audit for BAE Systems, Inc. "Leveraging the MetricStream technology will improve efficiencies and performance, by enabling enhanced collaboration, streamlining information gathering and creating clear visibility for our internal audit program."

"We are pleased that BAE Systems has selected MetricStream for this critical initiative," says Gaurav Kapoor, CFO and General Manager at MetricStream. "MetricStream Risk, Audits, Compliance and Policy management solutions will allow BAE Systems to manage multi-dimensional risk, audit and compliance requirements on an integrated platform. This selection illustrates the trend within large global corporations to choose an enterprise-wide GRC Platform for multiple initiatives and MetricStream's leadership position in the industry.

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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