SYDNEY, Feb. 25, 2014 /PRNewswire/ -- A leading Australia-based renewable energy company, Infigen Energy, has selected MetricStream to provide an integrated solution for Enterprise Risk Management (ERM) and Compliance Management. The solution will scale across the company's global operations, providing a common point of reference to manage the complete lifecycle of risk-related activities; streamline compliance with Australian and U.S. regulations; develop and communicate policies; and investigate and remediate risk and compliance incidents. Advanced dashboards, heat maps, scenario analysis tools, and reports will deliver real-time and in-depth insights into enterprise risk, enabling stakeholders to proactively respond to both challenges and opportunities in near real time.
Infigen Energy is a developer, owner, and operator of renewable energy assets with interests in 24 wind farms across Australia and the U.S. The company has a total installed capacity of more than 1,600 MW and generates enough power every year to meet the needs of over 500,000 homes. As a major energy company Infigen Energy must comply with many legal and reporting obligations, such as the ASX Listing Rules and many other corporate and energy sector regulations in Australia and the U.S.
"At Infigen Energy, we hold ourselves to the highest standards of corporate governance, risk management and compliance," said David Richardson, GM Corporate Governance at Infigen Energy. He continued, "In order to stay ahead of various changes in our risk and regulatory environment we require the support of an integrated and agile solution. Of the vendors we evaluated MetricStream offered the most comprehensive GRC solution. Through our partnership with MetricStream we plan to embark on a long and successful GRC journey marked by a strong culture of risk awareness, compliance and good governance."
The MetricStream solution will be leveraged by Infigen Energy employees across Australia and the U.S to help them develop risk appetites, maintain risk registers, and assess, rate, monitor, and report enterprise risks. The solution will also standardize the risk and control language used across the enterprise, thereby strengthening risk-related communication, analysis and reporting.
The solution will also help Infigen Energy streamline compliance activities related to various U.S. and Australian regulations. This systematic approach will minimize compliance redundancies, and optimize resources and costs. Any issues that arise from these processes will be automatically routed through a systematic and timely process of investigation and remediation.
The solution will be implemented over the MetricStream Cloud -- a cutting-edge private virtualized infrastructure that supports quick deployment, and provides robust security, flexibility, and agility.
"We are delighted to partner with Infigen Energy and help strengthen their GRC program," said Shankar Bhaskaran, Vice President & General Manager of International Business Operations at MetricStream. "Companies from across industries in Australia and New Zealand are working with MetricStream to build stronger, more efficient and more sustainable GRC processes. Through our extensive work with companies across North America, Europe, and the Middle East, we are able to bring our customers in Australia and New Zealand the expertise and experience needed to help them succeed in today's increasingly complex risk and regulatory environment."
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 has its ANZ offices in Sydney, and can be reached at www.metricstream.com.
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