MetricStream to Provide Internal Audit Management System for United
MetricStream solution will provide a single point of reference for managing
and tracking enterprise-wide risks, as well as internal audit data and
activities across the firm's global enterprise
PALO ALTO, Calif., Feb. 6, 2013
PALO ALTO, Calif., Feb. 6, 2013 /PRNewswire/ --United Technologies Corp.
(UTC) has chosen MetricStream to provide an integrated solution for Risk-Based
Audit Management. MetricStream Audit Management Solution will consolidate the
full gamut of internal audit processes on a common platform, enabling the
company's 100 auditors around the globe to better manage, track, and
collaborate across various projects. The solution will also provide risk
intelligence that will empower the firm's auditors with quality data, and
enable them to better prioritize and plan their audits and related audit
United Technologies Corp., based in Hartford, Connecticut, is a diversified
company providing high technology products and services to the building and
aerospace industries. The company's commercial businesses are Otis elevators
and escalators and UTC Climate, Controls & Security, which includes Carrier,
and its aerospace businesses are Pratt & Whitney, Sikorsky and UTC Aerospace
Using the MetricStream solution, UTC aims to streamline the complete audit
lifecycle – beginning with risk assessments and audit planning, and extending
to audit scheduling, field work and data collection (both online and offline),
workpaper management, and reporting. The web-based interface will enable
auditors across the globe to efficiently coordinate tasks and share
information, while the secure role-based access controls will help protect the
integrity and security of information.
The solution will also create an effective relational database structure that
brings together various risks, regulations, policies, controls, auditable
entities, audit activities, and other relevant data. This clear and logical
mapping between data inputs helps to simplify audit planning, and enables
auditors to proactively identify areas of concern. Additionally, the
MetricStream solution will provide UTC with the flexibility to generate both
ad hoc and standard reports, while automating the entire report generation
process. The reports, coupled with advanced dashboards, charts, and graphs
will enable auditors to gain real-time visibility into enterprise-wide risks
and audit results, identify high-risk areas, and track the status of audits as
they occur. MetricStream's solution lays a strong foundation to manage a
whole range of audits including financial, legal, IT and operational using a
federated approach and allows future extensibility into other areas of
Governance, Risk and Compliance (GRC).
"We are delighted that UTC has chosen MetricStream as they seek to enhance
critical components of their audit management processes," said Gaurav Kapoor,
Chief Operating Officer at MetricStream. "As a leader in the global aerospace
and building systems industries, UTC was looking for a solution to help manage
the growing global complexity and increasing challenges around risk management
and compliance with government regulations. MetricStream is a proven partner
for leading global corporations, and welcomes the opportunity to support UTC
in their audit management efforts."
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
programs, 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
Mr. Vinay Bapna
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