US based KiOR partners with MetricStream for Compliance and Controls Management

US based KiOR, a next generation renewable fuels company, is managing its internal controls and SOX compliance program with MetricStream Compliance Management Solution. MetricStream's solution is helping simplify, streamline, and automate internal controls processes and SOX compliance workflows across KiOR's enterprise. Bangalore based MetricStream is a market leader in enterprise-wide Governance, Risk, and Compliance (GRC) solutions.

KiOR's mission is to produce cellulosic gasoline and diesel in a sustainable manner, and has already developed a two-step proprietary technology to convert non-food lignocellulose into cellulosic gasoline and diesel. Operating as a young and rapidly growing company, KiOR recently completed one year of trading on the NASDAQ Global Select Market.

"We are delighted to work with KiOR as they build a robust controls and compliance focused governance framework," said Gaurav Kapoor, Chief Operating Officer at MetricStream. "With increased innovation in the energy sector, companies are growing at a tremendous pace. They need a scalable solution than can be easily and quickly deployed to establish and manage their GRC programs. MetricStream's cloud offering is ideal for companies who are looking to leverage efficient cloud computing models that, in turn, enable rapid adoption of world-class GRC solutions."

"Once we started trading publicly, our compliance reporting and governance standards changed. We wanted a solution that would help us meet our immediate compliance requirements rapidly and cost-effectively, while also serving as the foundation for all our future GRC initiatives," said John Karnes, Chief Financial Officer at KiOR. "MetricStream's comprehensive solution for SOX compliance, which is designed for quick adoption through its cloud model, has helped us get off to a good start."

MetricStream Compliance Management Solution enables KiOR to streamline the design, scheduling, execution, and review of control assessments and tests. The solution is built on MetricStream's flexible Governance, Risk, and Compliance (GRC) platform that extends across the enterprise, efficiently integrating compliance and controls processes. Executive dashboards provide real-time insights into the status of SOX compliance across the enterprise, and enable managers to easily provide external auditors with access to policies, procedures, and test plans, status, and results.

Source : Equity Bulls

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