Definition of option backdating

Compliance: An initiative to comply with a regulation typically begins as a project as companies race to meet deadlines to comply with that regulation.These projects consume significant resources as meeting the deadline becomes the most important objective.

Metric Stream enterprise solutions are used by leading corporations in diverse industries such as Automotive, Food, Pharmaceuticals, Manufacturing and Electronics to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives.

In addition Metric Stream’s Compliance portal is used by over a million compliance professionals worldwide to improve their work productivity and for professional growth.

Many vendors window dress their point solution by re-labeling it as a GRC solution or adding support for a few additional regulations to claim multi-regulatory label.

GRC Solution Framework and Key Capabilities In order to articulate what makes a solution a GRC solution, we must first lay out a GRC solution framework.

Metric Stream delivers the most comprehensive mapping of the GRC framework within the industry with the following unique capabilities: Summary Growing regulatory environment, higher business complexity and increased focus on accountability has led enterprise to pursue risk and compliance initiatives across the organization.

However, these initiatives are uncoordinated in an era when risks are interdependent and controls are shared, leading to gross inefficiency, duplication of efforts and a silo view of the world.

However, compliance is not a one-time event - organizations realize that they need to make it into a repeatable process, so that they can continue to sustain compliance with that regulation at a lower cost than for the first deadline.

When an organization is dealing with multiple regulations at the same time, a streamlined process of managing compliance with each of these initiatives is critical, or else, costs can spiral out of control and the risk of non-compliance increases.

In addition, the redundancy of work, as well as sheer expense of maintaining multiple point software solutions causes the cost of compliance to spiral out of control.

By taking an integrated GRC process approach and deploying a single system to manage the multiple governance, risk and compliance initiatives across the organization, the issues listed above can be easily addressed.

The compliance process enables organizations to make compliance repeatable and hence enables them to sustain it on an ongoing basis at a lower cost.

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