Procter & Gamble (P&G) (NYSE:PG), the world’s largest consumer packaged goods company with over 300 brands and $80 billion in revenue, has selected MetricStream’s integrated Governance, Risk, and Compliance (GRC) solution for its global enterprise. The solution will be implemented across hundreds of thousands of employees and stakeholders in nearly 80 countries.
With the MetricStream solution, P&G will be able to consolidate and standardize the complete range of its global GRC initiatives on a single, centralized platform. This approach will eliminate inconsistencies, enhance GRC coordination, and improve visibility into enterprise-wide GRC initiatives. Better management of Big Data through native information management, integration with transactional systems, and mapping to overall performance indicators is important for successful GRC management.
MetricStream’s integrated GRC solution will help P&G streamline, strengthen, and synthesize multiple GRC initiatives including global audits, assessments of financial and regulatory controls and requirements, attestations, policy management, incident management, and risk management. Real time analytics and dashboards will allow Business, Legal, HR, Finance and IT departments to get real-time information on the status of GRC processes across the enterprise. This will be one of the largest GRC convergence initiatives undertaken by a company.
A robust policy management tool will simplify and centralize the creation, maintenance, and communication of corporate and IT policies. Additional tools for certifications and due diligence questionnaires will help automatically track compliance with various legal, financial, regulatory, corporate, and sustainability mandates for P&G employees, vendors, and third party partners.
The MetricStream solution will enable cross-GRC reporting by integrating multiple GRC related metrics from numerous third-party systems. The solution will also be utilized for risk mapping and assurance, enabling P&G to identify, analyze, and respond to the entire spectrum of enterprise-wide risks.
“We are very excited to partner with P&G,” said Gaurav Kapoor, Chief Operating Officer at MetricStream. “Like P&G, an increasing number of retail and consumer goods companies are sharpening their focus on GRC. However, many perceive GRC improvement and convergence as complex. MetricStream solutions offer the capability to overcome this complexity by breaking down silos, automating cumbersome manual processes, improving collaboration, and standardizing GRC processes across the enterprise. At a strategic level, MetricStream solutions align GRC with business strategy, helping companies manage performance, and maximize value.”
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, Constellation Energy, Pfizer, Philips, BAE Systems, SanDisk, Cummins and Sonic Automotive in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, Government 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.