Priya Padmanabhan
BANGALORE: US-based
MetricStream,
a provider of
enterprise compliance and quality solutions, is targeting sales
opportunities in the Indian market.
Shellye Archambeau, the company's CEO said that the company would target the
Indian pharma, high-tech segments and also companies that are looking at listing
on international exchanges.
Traditionally, the company has focused on the US market for growth. But with
Indian enterprises expanding globally, the necessity to comply with regulatory
norms like Sarbanes-Oxley Act (SoX), is growing. “Globally, we are seeing the
trend of companies realizing the importance of risk management and putting in
place Chief Risk Officers and Chief Compliance Officers,” said Archambeau.
While the company has primarily focused on the American market, it is now
looking at Asian markets and subsequently will tap Europe.
The
company recently boosted its marketing efforts through a joint marketing
agreement with NASDAQ to offer MetricStream's SOX Stream and Quality Stream
products to listed companies. According to AMR Research, technology spending for
SoX and other compliance initiatives would be nearly $8.9 billion in 2006.
Archambeau said that the enterprise software firms like Oracle and SAP are
technology partners rather than competitors for MetricStream. “These majors are
more focused on transaction processing software and are now looking to
complement their offerings with compliance.”
The company is looking for strategic relationships including partnerships and is
also open to invest into acquisitions. MetricStream's competitors are niche
players like include OpenPages, Novaris and Certis in the SoX space; and Sparta
and IQS in the operational compliance area.
MetricStream's 100-member team in Bangalore is responsible for the end-to-end
development of the company's 12 product offerings. Besides development,
marketing lead generation, and quality assurance functions are also carried out
in India. “Our Indian development center is not an afterthought but something
that we have been evolving towards,” Archambeau added.
© CyberMedia News
MetricStream eyes Indian market
New Update