MetricStream Unveils New Release of its Compliance Management Solution to Address Multiple Regulations

Released on: February 28, 2008, 11:18 pm

Press Release Author: MetricStream, Inc.

Industry: Software

Press Release Summary: Application\'s new release designed to manage compliance with
multiple regulations across complex organizational structures through a common

Press Release Body: MetricStream, Inc., the market leader in enterprise-wide
Governance, Risk, Compliance (GRC) and Quality Management solutions, today announced
a new release of its Compliance Management application. The new release is designed
to manage compliance with multiple regulations across complex organizational
structures through a common framework.

As the multiple compliance initiatives become more intertwined from regulatory and
organizational perspectives, Compliance Officers are focusing on effective
rationalization of controls to provide a clear, unambiguous process for compliance
management and to deliver a single point of reference for the organization. The new
release of the Compliance Management application provides a configurable framework
to document processes, risks and controls across multiple areas of compliance
including cross-industry mandates and regulations such as SOX, OSHA, EH&S and FCPA
as well as the industry focused regulatory guidelines from FDA, NASD, FERC, PCI,
FAA, HACCP, AML, Basel II and data retention laws. The documentation can be applied
across a hierarchical organization structure and allows multi-layered access to
information to eliminate redundancy and duplication of activities, processes and

The application also provides powerful control assessment capabilities such as
threshold-based notifications and alerts, surveys and certifications, attestations
mechanisms, self-assessments and third-party testing workflows. This provides
companies with the flexibility to choose the right approach based on their
compliance and risk management strategy. The integrated issue and remediation
management capability enables companies to improve operations by resolving
system-identified and user-identified exceptions and deficiencies and implementing
corrective action plans.

\"Architecturally, this release supports decentralized ownership of compliance
activities with centralized monitoring and reporting,\" said Vidya Phalke, Vice
President of Engineering at MetricStream. \"It streamlines controls management by
enabling process owners to take direct responsibility for managing controls while
auditors can focus on key compliance risks and project oversight. We have seen the
success of this approach in diverse industries such as Banking, Financial Services,
Energy, Life Sciences, Food Services and Manufacturing.\"

The application release also includes enhanced management reporting capabilities
with a rich set of dashboards and reports that aggregate and roll up information
across multiple dimensions such as Areas of Compliance, Business Units and Business

A core component of its comprehensive GRC solution suite, the Compliance Management
application is built and deployed on the MetricStream Enterprise Compliance Platform
(ECP) - the infrastructure that provides core services that enable rapid development
and deployment of web-based applications that drive enterprise process management
for GRC and Quality processes. When implemented in combination with other
MetricStream applications for Risk Management, Audit Management and Policy
Management, the Compliance Management application streamlines all documentation,
communications, information flows, recordkeeping and monitoring of business
processes for compliance creating a seamless environment for managing risk and
compliance-related processes, issues and data in accordance with government
regulations and industry standards.

About MetricStream
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance
(GRC) and Quality Solutions for global corporations. MetricStream solutions are used
by leading corporations such as Pfizer, Covidien, NASDAQ, SanDisk, BP, Entergy,
Subway, Fairchild Semiconductor, Hitachi and TaylorMade-Adidas Golf in diverse
industries such as Pharmaceuticals, Medical Devices, Automotive, Food, High Tech
Manufacturing, Energy and Financial Services to manage their quality processes,
regulatory and industry-mandated compliance and corporate governance initiatives, as
well as by over a million compliance professionals worldwide via the portal. MetricStream is headquartered in Redwood Shores,
California and can be reached at

Web Site:

Contact Details: MetricStream, Inc.
3000 Bridge Parkway
Redwood Shores, California
United States-94065

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