January 10, 2012 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced that Shangri-La Hotels and Resorts has chosen MetricStream Audit Management Solution to power its internal audit program. The solution strengthens collaboration on internal audit activities across geographies, automates critical audit processes for better efficiency, and enhances transparency into audit reporting and tracking.

Established in 1971, Hong Kong-based Shangri-La Hotels and Resorts is Asia Pacific’s leading luxury hotel group with hotels and resorts spread across Asia Pacific, North America, the Middle East and Europe. The group has aggressive expansion plans in Canada, mainland China, India, Philippines, Qatar, Turkey and the United Kingdom.

Internal audit programs are critical in the Hospitality industry to ensure that proper policies, procedures and guidelines are followed for a wide range of operations such as accounting and billing, inventory management, promotional activities, vendor management, and theft and fraud prevention.

MetricStream Audit Management Solution helps global hotel and resort operators maintain and uphold high business standards by enabling highly efficient, integrated and collaborative internal audits. The solution facilitates a risk-based audit approach, and offers comprehensive features that are easy to use, and quick to adopt. In addition, the solution provides the flexibility to support different types of audit processes, methodologies, templates and workflows for various audits, including operational audits, financial audits, IT audits, vendor audits, environmental audits and quality audits.

MetricStream Audit Management Solution consolidates and unifies various internal audit processes, data and activities from across the enterprise, in a single centralized framework for greater control and visibility. The solution helps streamline the complete internal audit lifecycle - ranging from risk assessment, to audit planning and scheduling, to field data collection, evidence collection, audit workpaper management, audit reporting, review of audit recommendations, and remediation activities. In addition, MetricStream’s unique Briefcase technology for conducing offline audits at remote locations is particularly valuable for clients with geographically distributed business operations.

“We are pleased to have one of the world’s leading hotel groups as a customer,” says Shankar Bhaskaran, GM and VP of International Business Operations at MetricStream. “Across the globe, the hospitality industry is optimistic about growth. At the same, it is rife with fierce competition, high operating costs, increasing regulations, and demands for better customer experience. MetricStream GRC solutions play a central role in addressing these challenges by aligning audit, risk and compliance programs with business performance, and providing the business intelligence and risk analytics required to optimize investment decisions, resource allocation, project scheduling and business planning.”

About Shangri-La
Hong Kong-based Shangri-La Hotels and Resorts, one of the world’s premier hotel companies, currently owns and/or manages 72 hotels under the Shangri-La, Kerry and Traders brands, with a room inventory of over 30,000. Over four decades the group has established its brand hallmark of ‘hospitality from the heart.’ The group has a substantial development pipeline with projects in Canada, mainland China, India, Malaysia, Philippines, Mongolia, Qatar, Sri Lanka, Turkey and United Kingdom. For more information and reservations, please contact a travel professional or access the website at www.shangri-la.com.

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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