MetricStream's 2009 revenues up 75 p.c.

BANGALORE, INDIA: Bangalore based MetricStream, a player in governance, risk and compliance (GRC), today announced that it has achieved a 75 per cent increase in sales in 2009 over 2008 globally.

MetricStream’s growth was fueled by companies prioritizing their need to drive business performance by better managing ever increasing complex risk scenarios and compliance requirements. This resulted in both new implementations as well as a high number of replacement implementations, the company said in a press release.

In 2009, MetricStream saw a large number of customers replacing their existing solutions, from some of its leading competitors, with MetricStream solutions.

"Throughout 2009 we executed on a profitable growth strategy to enhance our market leadership and brand in GRC by investing in our customers, platform, solutions, content, and people. We saw excellent performance in 2009 and that has set the stage for a very strong 2010 and beyond,” said Shankar Bhaskaran, senior director and head of International Business Operations at MetricStream.

A large number of customers in several regulated industries like financial services, healthcare, utilities and energy, life sciences, retail among others turned to MetricStream in 2009. These included some of the largest companies in the world that are market leaders in their industries, said the release.

Outside North America, MetricStream enhanced its presence and penetration in Europe, Middle East, South America, Africa and Asia, the release added.