April 04, 2013 | Palo Alto, California: One of America’s leading railroad networks, has chosen MetricStream to power its internal audit management program. MetricStream’s solution for a risk-based audit management program will help the company streamline its audit processes, manage resources efficiently, mitigate risks, and ensure compliance with both internal policies and industry mandates.

Achieving compliance and mitigating risks through internal audits is a top priority for the company. Given the magnitude of their operations, they were looking for an audit management system that would not only scale across the enterprise, but also help manage audit resources and improve auditing efficiency. MetricStream demonstrated a keen understanding of these requirements and offers a highly configurable solution to address them.

MetricStream’s Internal Audit Management Solution will enable the company to streamline the entire audit lifecycle - from risk-based audit planning and scheduling, to fieldwork and data collection (both offline and online), to the review of audit reports, and implementation of audit recommendations. The web-based MetricStream solution will enable auditors to resourcefully manage tasks and exchange information, while the interface’s secure role-based access controls will help protect the integrity and security of information.

Built on an integrated GRC platform, the solution will help the railroad company improve collaboration by integrating audit management processes across the enterprise. Advanced capabilities such as automated alerts and built-in remediation workflows will allow swift and proactive action against risk and compliance issues. Executive dashboards with drill-down capabilities will provide in-depth insights into the status details of audit programs, risk and compliance issues, and the remediation action process. In addition, powerful risk heat maps, a top-down risk-based approach, and embedded best practices will enable the company to manage their risks and ensure compliance with industry regulations and standards.

The solution also provides real-time risk intelligence, which will enable the company to plan and allocate resources more efficiently across its vast operations. Audit managers can track audit resource availability, manage audit budgets, and assign audit schedules across geographies and business units.

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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