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Redwood Shores, Calif. - March 07, 2005 - MetricStream, Inc., a market leader in the enterprise-wide quality and compliance software today announced that it has extended its market leading compliance applications suite to include an end-to-end solution for Sarbanes-Oxley 404. With this announcement, MetricStream continues to extend its leadership over point solutions by enabling its customers to use one software solution to manage compliance with multiple regulations such as SEC's Saxbanes-Oxley 404, FDA's 21CFR Part 11, USDA's HACCP; industry mandates such as Automotive Industry's TS16949/2002, ISO9000 etc. and corporate initiatives such as Environmental Health & Safety standards, internal policies etc. As a result, customers can not only deploy MetricStream's best-of-breed Sarbanes-Oxley 404 compliance capabilities today, but also position themselves to support their other compliance initiatives in the future with the same software solution.

"Compliance has evolved from an isolated quality initiative within a department to an enterprise level challenge, based on passage of acts like 21 CFR part 11, Sarbanes-Oxley Act of 2002, and TREAD Act.", said John Hagerty, AMR Research in defining the AMR Active Compliance Framework. "The shift requires new organizational models, new processes and controls, and a new approach to the technology support for the compliance effort. In the past, point systems were adequate to address isolated compliance efforts, but as the number and scope of compliance requirements grows, isolated efforts become a business risk and increase costs."

"With this announcement, we have extended our market leading solution to support Sarbanes-Oxley 404 compliance", said Shellye Archambeau, CEO of MetricStream. "Most companies have to comply with multiple government regulations and industry mandates, but are forced to deploy a separate compliance system for every regulation, leading to a very high cost of compliance. MetricStream is singularly focused on enabling its customers to reduce the cost of compliance and gain comprehensive visibility into compliance-related risk across all operating units by providing a single solution for multiple regulations."

Key modules in the MetricStream suite for Sarbanes-Oxley 404 include:

  • MetricStream Design: Enables the organization to document the control hierarchy, design assessment plans, and setup the compliance environment for all the business units within the organization.
     
  • MetricStream Assess: Enables the organization to schedule and perform assessments of design effectiveness and operational effectiveness of the controls.
     
  • MetricStream Improve: Enables the organization to manage the remediation, exception, and disclosure processes, track their status, and ensure successful completion.
     
  • MetricStream Monitor: Provides visibility into the ongoing compliance efforts within the organization through role based dashboards and scorecards.
     
  • MetricStream Document Management: Provides a central repository for all documents required for compliance with Section 404 including company's policies, procedures, process documentation and all other regulatory and legal information.
     
  • MetricStream Training: Enables the organization to make compliance a part of the company's culture by driving consistency through managing all aspects of employee training.
     
  • MetricStream Audit: Performs process-level self-assessments and provides support for internal and external auditors

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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