Philippines-Based Aboitiz Group Streamlines & Integrates Internal Audit Processes with MetricStream’s Cloud-Based Internal ...
February 10 2016 - 8:00PM
Business Wire
The Aboitiz Group is using the MetricStream Internal Audit
Management App to drive intelligent risk-based audits, improve
auditor productivity, and gain comprehensive, real-time visibility
into the complete audit lifecycle
MetricStream, an industry leader in Governance, Risk, and
Compliance (GRC) Apps and Solutions announced today that the
Aboitiz Group is using the MetricStream Internal Audit Management
App to streamline, standardize, and automate their audit processes.
Deployed over the MetricStream GRC Cloud, the App offers a single
point of reference to manage and track a wide range of internal
audit activities. The App cuts across organizational siloes,
strengthening visibility into audit data, while enabling auditors
to easily collaborate and share information.
Established in the late 1800s, the Aboitiz Group is a highly
diversified group of companies with major investments in power,
banking and financial services, food, land, construction,
ship-building, and infrastructure. The group includes Union Bank –
one of the Philippines’ largest commercial banks, as well as
AboitizPower -- which operates 39 generation facilities across the
country, and Pilmico -- one of the largest manufacturers of flour
and wheat by-products in the country.
“Implementing an audit management system was a major initiative
for us this year, as we seek to continuously improve the quality of
our services,” said Marie Y. Tanate, VP Group Internal Audit Head,
at Aboitiz Equity Ventures, Inc. “We were looking for a GRC
solution that would enable us to achieve a highly integrated,
repeatable, and scalable approach to our internal audit processes.
We chose to deploy the Internal Audit Management App over the
MetricStream GRC Cloud, a high-performance and highly secure
private cloud environment that enabled us to go live in just six
weeks. Today, with MetricStream’s cloud-based Internal Audit
Management App, we’re driving better business performance through a
more productive, efficient, and collaborative audit program.”
The MetricStream Internal Audit Management App has enabled the
Aboitiz Group to streamline the entire audit process -- from
conducting risk assessments, to planning audits, allocating audit
resources, managing work papers, tracking audit activities, and
resolving any issues that may arise. Through a risk-based approach,
the App supports the development of targeted audit plans with
well-prioritized audit resources. Dynamic reports and dashboards
provide real-time visibility into the audit process, helping audit
managers make more informed decisions.
"We’re delighted to have the Aboitiz Group as a valuable
customer," said Shankar Bhaskaran, General Manager of International
Operations at MetricStream. He continued, “With internal audit
activities growing more complex and challenging to manage,
companies are looking to MetricStream to provide fully-integrated
solutions that can simplify audit tracking, automate
resource-intensive tasks, and proactively address emerging issues
and risks. Today, MetricStream’s Internal Audit Management App is
used by customers across North America, Europe, Australia, and the
Middle East, and we are rapidly extending our footprint into
South-East Asia. We look forward to maintaining a long partnership
with the Aboitiz Group and serving other leading organizations in
the region.”
About MetricStream
MetricStream is the market leader in enterprise-wide
Governance, Risk, Compliance (GRC) and Quality Management
Solutions. MetricStream solutions are used by leading global
corporations 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 programs, quality management processes, regulatory
and industry-mandated compliance and other corporate
governance initiatives. MetricStream’s customers include
UBS, Société Générale, Pfizer, Philips, Cummins, Kellogg’s,
Mondelez International, SanDisk, and NetApp. MetricStream also
owns and operates the www.ComplianceOnline.com portal -
the largest GRC advisory network and one of the largest GRC
communities. MetricStream is headquartered in Palo Alto,
California, USA (www.metricstream.com).
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MetricStreamMolly Palm, +1-925-451-1468pr@metricstream.com