Kaydon Corporation Strengthens SOX Compliance and Internal Audits Using
MetricStream's Solution and GRC Platform
The MetricStream solution helps Kaydon implement a systematic and automated
approach to controls assessments and audits, and enables real-time tracking of
PALO ALTO, Calif., Oct. 4, 2013
PALO ALTO, Calif., Oct. 4, 2013 /PRNewswire/ --Kaydon Corporation, a leading
designer of custom engineering solutions, is successfully enhancing their SOX
compliance and internal audit processes with the support of MetricStream. The
MetricStream solution, which is built on a centralized GRC platform, is
enabling Kaydon to streamline, automate, and improve visibility into their
internal audits and controls management, assessments, monitoring, and
Headquartered in Michigan, Kaydon designs and manufactures custom-engineered
and performance-critical products for a range of industrial, military,
aerospace, medical, semiconductor, and alternative energy equipment and
after-market customers. The company's offerings span friction control
products, velocity control products, and other industrial products, including
the world's lightest and thinnest bearings, and largest precise-tolerance
bearings. Since being incorporated in 1984, Kaydon has emerged as one of the
world's leaders in specialty bearings.
"An important part of our strategic agenda is to enhance stakeholder trust.
And we believe that reporting of our internal and financial controls plays a
critical role in achieving the same," said Vance Allen, Director - Internal
Audit at Kaydon. He continued, "We wanted a solution that would not only
provide broader and deeper visibility into the entirety of our SOX compliance
and controls processes, but would also help automate and facilitate controls
testing. We're able to achieve our objectives and demonstrate immediate value
with MetricStream's robust solution, which we could deploy quickly through
MetricStream's cloud model."
The MetricStream solution enables a systematic and closed-loop approach to the
entire process of assessing and testing internal controls, documenting
findings and gaps, and initiating and managing remediation activities in
compliance with SOX regulations. The solution also integrates SOX compliance
with internal audit processes, data, and entities in a centralized framework,
facilitating increased collaboration, efficiency, and visibility.
All controls assessments and audit findings are consolidated in a common
repository where they can be easily searched, retrieved, and provided as
evidence to external auditors and stakeholders that a control was tested to
the satisfaction of the internal audit team. Powerful dashboards and reports
deliver real-time insights into SOX compliance, enabling Kaydon to proactively
identify areas of concern, and reduce the risk of non-compliance.
"We are pleased to support Kaydon in their SOX compliance and internal audit
efforts," said Gaurav Kapoor, Chief Operating Officer at MetricStream. He
continued, "Leading and visionary companies are enhancing their controls
processes not just to meet regulatory compliance expectations, but also to
build a culture of risk-resilience and transparency. MetricStream solutions
are designed with these broad goals in mind, enabling organizations worldwide
to enhance business performance, and derive immediate value from their SOX
compliance processes. Moreover, for rapidly growing mid-market organizations
such as Kaydon Corporation, MetricStream offers the added benefit of
accelerating and simplifying GRC solution deployment through the secure and
reliable GRC Cloud."
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,
Barclaycard US, P&G, Constellation Energy, Pfizer, Philips, United
Technologies Corporation, SanDisk, Cummins, and Autogrill 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 atwww.metricstream.com.
Mr. Vinay Bapna
Read more news from MetricStream.
Press spacebar to pause and continue. Press esc to stop.