Global CPG and Retail Brands Adopt MetricStream GRC Solutions to
Provide Visibility into the Supply Chain, Cultivate Customer
Loyalty, and Enhance Stakeholder Trust
PALO ALTO, Calif., Dec. 18, 2012 /PRNewswire/ -- In order to
build viable global brands, consumer product companies (CPG),
retailers, and Internet and e-commerce organizations are
diversifying their product portfolio, building complex overseas
supply chains, and venturing into new geographies. With a sharpened
focus on building the business comes the need to proactively
protect stakeholder interests and uphold corporate reputation.
Growing companies find themselves grappling with global and
local regulatory requirements, and are devoting extra resources to
ensure that their compliance initiatives are not compromised.
Additionally, organizations today have to identify and manage a
broad and diverse set of risks such as supply chain risk, IT risk,
credit risk, ethics and compliance risk, product quality and safety
risk, market risk, operational risk, and more.
Meanwhile, mobility, hyper-connectivity, and rising social media
usage have compounded the complexity. Quality and customer service
complaints posted on personal or company social media pages can
immediately reach millions of stakeholders around the world,
thereby impacting brand health and reputation. As such,
corporations today need to put in place a rigorous monitoring
system to better understand the content and conversations taking
place on these channels. Similarly, IT-related risks are
emerging as a top risk, and companies face challenges when it comes
to information security and data privacy. Sophisticated
cyber-attacks can compromise confidential customer information,
affecting the business operations while also garnering negative
publicity.
To address all of these challenges and more, companies around
the world are turning to MetricStream, a market leader in
Governance, Risk, and Compliance (GRC) and quality management
solutions. MetricStream solutions, built on a highly flexible and
scalable platform, are widely recognized for their ability to
support any company's initiatives as it relates to building global
brands, cultivating loyal stakeholders, and enhancing corporate
reputation by strengthening end-to-end GRC activities,
including:
- Corporate Compliance (CPSC, FPLA, FLSA, FCPA, Anti-Bribery Act,
EPA, etc.)
- Financial/SOX Compliance
- Brand Compliance
- Social Compliance
- Social Media Risk and Compliance Management
- Audits (internal and third-party)
- Quality and Safety
- Supply Chain Governance and Risk Management
- Inspections
- Enterprise Risk Management (ERM)
Through a unique federated approach, the solutions break down
restrictive organizational silos, and enable effective
collaboration on risk and compliance management processes across
multiple departments, business units, vendors, and suppliers. They
also automate cumbersome manual processes such as report
generation, thus saving time and costs.
Through MetricStream solutions, companies can receive real-time
data on their vendors and suppliers and therefore, are able to
identify, evaluate, and manage risks associated with these vendors.
Risk and control intelligence integrated from multiple systems
aligns with business goals so that companies are in a better
position to make proactive decisions that enhance brand and build
corporate reputation.
Many global brands have implemented MetricStream GRC solutions,
and have seen benefits such as:
A Fortune 500 fashion retailer uses MetricStream's Corporate
Compliance Solution to streamline compliance across 15 different
areas including social, HR, privacy, legal, and IT compliance. By
enabling a robust and closed-loop compliance process, the solution
helps protect the retailer from incidents ranging from information
fraud, to employee discrimination, to anti-money
laundering.
A specialty retailer and distributor of construction and
maintenance products with more than 50,000 suppliers uses
MetricStream's Supplier Governance Solution to integrate supplier
information management, on-boarding, evaluation, request for
quotations, auditing, performance management, and risk management.
The solution helps the organization improve the efficiency and
transparency of their supply chain quality processes. It also
enhances collaboration with suppliers to ensure that the required
quality standards are being met.
A Fortune 500 department store chain uses MetricStream's Social
Compliance Management Solution to streamline vendor information
management, code of conduct conformance, audits, inspections, issue
management, and Corrective Action/ Preventive Action CAPA
management. Using the solution, the organization is able to
strengthen its brand reputation by ensuring that ethical and
socially responsible practices are followed across its
enterprise.
One of the world's leading food service chains, operating
hundreds of thousands of fast food restaurants, uses MetricStream's
Quality Audit Solution to streamline inspection management and
supplier audits. The solution helps the organization enhance
customer loyalty by ensuring that the quality of food is not
compromised despite sourcing from multiple suppliers.
One of the largest and most well-known CPG brands has chosen
MetricStream's GRC Solution to consolidate and standardize the
complete range of global GRC initiatives in a single cohesive
framework. Through this integrated approach, the company is able to
eliminate GRC redundancies, minimize risks, and ensure proactive
and sustainable compliance with regulatory requirements.
"In light of recent incidents including factory fires,
confidential data loss, financial fraud, unsafe working conditions,
and product recalls, companies around the world are looking to GRC
programs and processes to help them build their brand and protect
their reputation," says Keri Dawson,
Vice President of ComplianceOnline Advisory Services at
MetricStream. "MetricStream GRC solutions support companies in
their enterprise-wide GRC efforts by tracking risk and performance
indicators and improving transparency and accountability. In short,
the solutions provide the tools and intelligence to align GRC with
business strategy, and thereby improve performance, brand value,
and profitability."
About MetricStream
MetricStream is a market leader in Enterprise-wide Governance,
Risk, Compliance (GRC) and Quality Management Solutions for global
corporations. MetricStream solutions are used by leading
corporations such as UBS, P&G, Constellation Energy, Pfizer,
Philips, BAE Systems, Twitter, SanDisk, Cummins and Sonic
Automotive in diverse industries such as Financial Services,
Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG,
Government, Hi-tech and Manufacturing to manage their risk
management, quality processes, regulatory and industry-mandated
compliance and corporate governance initiatives, as well as several
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.
Media contact:
Mr. Vinay
Bapna
pr@metricstream.com
650-620-2955
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SOURCE MetricStream