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August 14, 2012 | Palo Alto, California: KiOR, a next generation renewable fuels company, is managing its internal controls and SOX compliance program with MetricStream Compliance Management Solution. MetricStream's solution is helping simplify, streamline, and automate internal controls processes and SOX compliance workflows across KiOR's enterprise.

KiOR's mission is to produce cellulosic gasoline and diesel in a sustainable manner, and has already developed a two-step proprietary technology to convert non-food lignocellulose into cellulosic gasoline and diesel. Operating as a young and rapidly growing company, KiOR recently completed one year of trading on the NASDAQ Global Select Market.

MetricStream Compliance Management Solution enables KiOR to streamline the design, scheduling, execution, and review of control assessments and tests. The solution is built on MetricStream's flexible Governance, Risk, and Compliance (GRC) platform that extends across the enterprise, efficiently integrating compliance and controls processes. Executive dashboards provide real-time insights into the status of SOX compliance across the enterprise, and enable managers to easily provide external auditors with access to policies, procedures, and test plans, status, and results.

The solution also supports surveys and certifications for affirming the strength of internal controls and adherence to policies. All of KiOR's compliance related documents, control assessments, policies, and other critical information are stored in a centralized repository for easy access and search.

"Once we started trading publicly, our compliance reporting and governance standards changed. We wanted a solution that would help us meet our immediate compliance requirements rapidly and cost-effectively, while also serving as the foundation for all our future GRC initiatives," says John Karnes, Chief Financial Officer at KiOR. "MetricStream's comprehensive solution for SOX compliance, which is designed for quick adoption through its cloud model, has helped us get off to a good start."

"We are delighted to work with KiOR as they build a robust controls and compliance focused governance framework," says Gaurav Kapoor, Chief Operating Officer at MetricStream. "With increased innovation in the energy sector, companies are growing at a tremendous pace. They need a scalable solution than can be easily and quickly deployed to establish and manage their GRC programs. MetricStream's cloud offering is ideal for companies who are looking to leverage efficient cloud computing models that, in turn, enable rapid adoption of world-class GRC solutions."

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).

Press contact

Sonia Sharma : pr@metricstream.com | India: +91 98450-19197

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