November 15, 2011 | Palo Alto, California: MetricStream Inc., the market leader in enterprise-wide Governance, Risk and Compliance (GRC) solutions, today announced that a leading power supply company which provides electricity for millions of people across multiple US states, will be extending its implementation of the MetricStream GRC platform to manage NERC CIP and FERC compliance.
The company is already using various MetricStream GRC solutions to manage IT security, IT compliance, IT risk, IT audit, IT issues, and SOX compliance. Going forward, the company’s Physical and Cyber Security division, and the Transmission and Distribution division will be implementing MetricStream NERC and FERC compliance solutions. In doing so, they will be able to boost their Physical and IT security efforts further, maintain sustainable compliance with NERC CIP and FERC regulatory requirements, and proactively address compliance gaps.
MetricStream’s centralized information repository and the built-in document management capability will provide the company a one-stop destination for managing and maintaining all FERC and NERC CIP compliance standards and requirements, policies and procedures, periodic certifications, control assessments and action items/tasks.
The solution will closely facilitate and monitor NERC CIP version migration from V3 to V4, while providing the capability to store various versions of the NERC requirements. It will also enable each compliance requirement to be closely mapped to the business hierarchy, controls and tasks in such a way that compliance management is made more streamlined and efficient.
The solution will further enhance compliance by enabling the company to prepare comprehensive compliance checklists, efficiently assign control assessments and action items/tasks, and document the results of the assessments along with Technical Feasibility Exceptions (TFE).
The MetricStream solution’s Business Continuity and Disaster Recovery Management module will help the utility organization enable complete compliance with various NERC CIP standards. The solution will help ensure that recovery plan(s) are put in place for Critical Cyber Assets, and that these plans follow established business continuity and disaster recovery techniques and practices.
The MetricStream solution’s Asset / Equipment Management capabilities will enable the company to efficiently identify and manage assets (both critical and non-critical) across multiple sites, perform risk assessments, document risks, and implement controls and tasks to keep risks in check.
Automatic alerts will help ensure that all assets are appropriately maintained and replaced, while powerful graphical dashboards will provide an integrated, real-time view of critical assets across the organization. This will enable the company to track the assets closely, determine the costs of managing and maintaining them, track upcoming maintenance cycles, and plan their budgets more efficiently.
MetricStream’s Web-based solutions offer the flexibility and scalability to integrate and streamline end-to-end GRC needs across extensive and complex power supply networks. The solutions are widely used by some of the largest and most reputed Energy & Utility companies across the US.
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 Pfizer, Philips, NASDAQ, UBS, SanDisk, Subway, Fairchild Semiconductor, Constellation Energy and Cummins in diverse industries such as Healthcare, Pharmaceuticals, Medical Devices, Automotive, Food, High Tech Manufacturing, Energy and Financial Services to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as by over a 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.