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April 14, 2009 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management solutions, announced today that it closed the first quarter of 2009 with record sales clearly indicating that the economic crisis has brought GRC at the top of the corporate agenda.

Solutions for Corporate Governance, Enterprise Risk Management (ERM), Regulatory Compliance, Internal Audit, Quality Management and Policy Management drove MetricStream’s expanded presence in financial services, energy and utilities, life sciences and high-tech verticals. MetricStream was selected by several marquee customers including a Fortune 1000 semiconductor manufacturer, a premier health insurance company serving several million members, a global pharmaceutical corporation with over 20,000 employees and one of the world's leading financial firms operating in more than 50 countries. GRC revenues in Q1 2009 more than doubled compared to a year ago. MetricStream’s expansion into the international markets continues with significant customer wins and successful project implementations in Europe, Middle East and Asia in addition to its expanding market share in North America.

"We see a major trend in large companies investing to upgrade the technology infrastructure being used to carry out GRC programs,“ says Gaurav Kapoor, CFO and General Manager at MetricStream," Customer are migrating from their legacy systems, point applications and paper-based procedures to integrated, platform-based risk and compliance management systems.” Commonly realized benefits from an integrated GRC platform are better enterprise-wide visibility, a transparent and collaborative environment and data-driven decision making.

To keep pace with the rapidly evolving business processes and to successfully support complex enterprise requirements, MetricStream continued to make investments in its platform that serves as the GRC run-time engine as well as in its best-in-class applications for ERM, Audit Management, Compliance Management, Quality Management, IT GRC, Issue Management, Loss Management and Policy and Procedure Management. These offerings are further differentiated though integration with MetricStream’s ComplianceOnline.com portal for regulatory intelligence, content and training.

"MetricStream’s ability to help corporations in improving business performance through GRC has been the key driver behind our growth," says MetricStream CEO, Shellye Archambeau. "As companies redefine their business practices for greater control and resiliency, MetricStream will play a critical role in enabling customers to weather the current slowdown as well as to seize the opportunities that lie ahead."

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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