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Pharmaceutical Leader to Harmonize Enterprise-wide Compliance and Controls on MetricStream GRC Platform

05-06-2010 09:49 AM CET | IT, New Media & Software

Press release from: MetricStream, Inc.

Pharmaceutical Leader to Harmonize Enterprise-wide

MetricStream, Inc., the market leader in enterprise-wide Governance, Risk, Compliance (GRC) management solutions, announced today that one of world’s leading pharmaceutical companies will implement MetricStream as its enterprise-wide platform for harmonizing compliance requirements and controls programs for all its worldwide business units and subsidiary companies.

Ranked among the Fortune 500 list of America's largest corporations, the company is a global leader in the pharmaceutical industry selling healthcare products in over 175 countries. Such a vast operation entails managing compliance with hundreds of regulations and guidelines from various regulatory bodies and industry organizations world-wide spanning various business functions like finance, IT, privacy, security, marketing, sales, safety, environment and quality.

As a result, consolidating compliance requirements for the entire enterprise at the corporate level, interpreting various laws, mandates and guidance for specific processes and compiling a harmonized set of controls, control activities, tests and evidence collection program is an exercise of immense magnitude for the company.

As the compliance executives at the company pursue the vision of creating a central system for managing all their global compliance programs, they wanted to select a technology partner that could provide a highly flexible and scalable GRC platform architecture that would support their complex needs. MetricStream has a proven track record of deploying GRC solutions for global corporations. During the evaluation, MetricStream demonstrated that its platform can fully support the client’s required information architecture, compliance frameworks, control and documentation workflows and reporting requirements. MetricStream’s experience and expertise in life sciences was also seen as valuable as the client refines its compliance strategy based on industry best practices.

MetricStream solution will capture regulatory information and requirements from various external sources and enable the compliance managers to review and interpret them into specific requirements from an internal perspective and define the control strategy and plan to ensure ongoing compliance. As the system will serve as an enterprise-wide platform, it will enable harmonization of controls resulting in improved compliance and risk management. The solution will also provide clear visibility into the status, progress and outcome of various compliance programs across the organization on executive dashboards and reports with the ability to drill-down and view granular information about a specific regulation, country or product.

Gaurav Kapoor, CFO and General Manager at MetricStream, says, “MetricStream places high value on this new relationship in the top tier of the life sciences industry. Our clients are taking a progressive approach to compliance and risk management by investing in a sophisticated GRC information management system and we are delighted to work with them on this vital initiative.”

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, Philips, NASDAQ, UBS, SanDisk, BP, 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 www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.

Contact Address:
MetricStream, Inc.
2600 E. Bayshore Road
Palo Alto, California 94303
United States
phone: 650-620-2900
www.metricstream.com
pr@metricstream.com

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