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August 18, 2009 | Palo Alto, California: MetricStream Inc., today announced that it has been positioned in the Leaders Quadrant of Gartner's recently released " Magic Quadrant for Enterprise Governance, Risk and Compliance (GRC) Platforms "1 research report.

"We consider our positioning in the "Leaders" quadrant by Gartner as validation of our commitment and ability to enable customers to adopt an integrated, enterprise-wide approach to GRC. Consolidating programs for Internal AuditRisk ManagementRegulatory CompliancePolicy & EthicsFinancial Controls and IT Governance is critical for large corporations as it unlocks the power of collaboration and information sharing resulting in significant improvement in business performance," said Shellye Archambeau, CEO of MetricStream. "MetricStream continues to innovate and deliver a platform that is highly configurable to addressing specific customer needs."

Most industries face GRC challenges that are unique to their business operations. Whether it is Risk Management, Audits, Compliance, Policy Management or Quality Management - different industries have certain common requirements and some requirements that are specific to the sector. For example, energy & utility companies have to manage federal and state requirements including FERC & NERC compliance; global banks & financial service providers have specific requirements around operational risk, Basel II, loss management, RCSA & KRIs; insurance companies face Solvency, HIPAA compliance and other federal & state regulations; life sciences & healthcare companies have mandates such as FDA compliance, patient safety laws; retail, food & beverage companies have to comply with food safety and HACCP compliance requirements. All these are in addition to internal business processes around risk, internal audit, IT, corporate policies, ethics and quality management. Bringing these elements of GRC together and integrating them with performance management is critical and yet challenging for enterprises.  

"We have built a strong reputation for working with global corporations and delivering GRC solutions with collaboration, workflows and reporting tailored to their environments," says Gaurav Kapoor, CFO and General Manager at MetricStream. "MetricStream understands exactly how to address these varying needs by providing highly packaged solutions yet adapting to specific industry requirements with the right software functionality as well as community and content from its ComplianceOnline.com portal. That continues to be our key differentiator and is well-aligned with the market demand."

Having deep experience in quality management solutions (QMS) with a number of successful implementations for corrective actions, supplier quality, defect tracking and failure investigation MetricStream uniquely understands the GRC environment and requirements of companies with multi-site manufacturing operations. Managing areas such as supply chain risks, Environment, Health & Safety (EHS), operational compliance and quality & safety audits require a strong process orientation, domain expertise and a scalable software platform that MetricStream provides.

1. Gartner, Inc. "Magic Quadrant for Enterprise Governance, Risk and Compliance Platforms" by French Caldwell, Tom Eid and Carsten Casper, August 12, 2009

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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