MetricStream, Inc has announced its extended offering to support compliance with the Clause 49 requirement laid down by the Securities and Exchange Board of India (SEBI).

"By implementing compliance programs for Clause 49, Indian companies are demonstrating their sincerity in following good governance and business ethics and this will surely raise their ability to compete in the global market," said Ghanshyam Das, MD APAC of NASDAQ Stock Market. NASDAQ and MetricStream have partnered to offer MetricStream compliance products and solutions to NASDAQ-listed companies globally.

According to the official press release, MetricStream's solution enables companies to achieve and sustain Clause 49 compliance reduces the risk of non-compliance by integrating the design and testing of internal controls, enabling the automation of testing of controls, tracking and managing activities to correct deficiencies and weaknesses, streamlining change control to ensure processes and their documentation always stays in sync, and providing complete visibility and control over the compliance process through dashboards and risk heat maps.

The Clause 49 solution is built on MetricStream's Enterprise Compliance Platform, a robust infrastructure for web-based applications that drive enterprise process management for governance, risk, compliance and quality. It also leverages best practices and domain knowledge from ComplianceOnline.com, MetricStream's training and content portal dedicated to regulatory information and issues.

"Our success with extending our market leading solution suite to include Clause 49 compliance demonstrates the value of our solutions for Indian companies looking to adhere to regulatory compliance" said Shankar Bhaskaran, Head – Asia Pacific of MetricStream. "By enabling our customers to adopt a single platform for managing the multiple GRC initiatives, we significantly improve the effectiveness of their compliance programmes while lowering the associated costs."