SOURCE: MetricStream, Inc.

June 27, 2005 09:00 ET

Tata Consultancy Services and MetricStream Form Strategic Partnership to Decrease Clients' Regulatory Compliance Costs

REDWOOD SHORES, CA and NEW YORK, NY -- (MARKET WIRE) -- June 27, 2005 -- MetricStream, Inc., a market leader in the enterprise-wide quality and compliance software solutions, and Tata Consultancy Services (TCS) (BOMBAY: TCS.BO) (NSI: TCS.NS), a leading global IT services firm, today announced a strategic partnership to help clients significantly decrease costs associated with complying with federal regulations such as cGMP, Sarbanes-Oxley 404 and such industry mandates as ISO9000. By combining TCS' strengths in process maturity and pioneering work in building quality methodologies with MetricStream's quality and compliance software, together the two companies will target companies facing varying industry mandates.

In the March 2005 AMR Research report, "Spending in an Age of Compliance," analyst John Hagerty finds, "companies will spend nearly $15.5B on compliance-related activities," in 2005. The report also found that 67% of companies with a compliance solution in place planned to add to or improve their current compliance solutions and 31% planned to maintain their current compliance solutions in 2005.

The new partnership between MetricStream and TCS looks to tackle rising compliance costs by integrating MetricStream's market leading technologies with TCS' domain expertise to deliver solutions that reduce the cost of compliance.

"In today's context, the risk of non-compliance to regulatory mandates can prove fatal for an enterprise. Rising cost to address compliance needs is a challenge. Our goal is to provide solutions that will enable our clients to meet their compliance needs at a decreased cost," said Venguswamy Ramaswamy, director, sales and delivery support, global consulting, TCS. "MetricStream's application suite, designed to support multiple compliance initiatives within the enterprise, will help our clients directly address today's compliance mandates in the most cost-effective way."

"Our technology has been successfully leveraged by customers to sustain regulatory compliance at significantly reduced costs," said Shellye Archambeau, CEO, MetricStream. "We are very excited to work closely with TCS, one of the largest global IT services companies in the world, to jointly address the compliance needs of their customers spread over 55 countries."

"This partnership is a part of strategy to take our global offerings into new markets by working closely with niche leading vendors," said Ajoy Mallik, corporate development, TCS. "Both MetricStream and TCS clients will benefit from this pioneering partnership."

About MetricStream

MetricStream is a market leader in Enterprise-wide Quality and Compliance Management for global corporations. MetricStream solutions are used by leading corporations in diverse industries such as Automotive, Food, Pharmaceuticals, Manufacturing and Electronics to manage their quality processes, regulatory and industry-mandated compliance and corporate governance initiatives. Key MetricStream customers include Pfizer, Fairchild Semiconductor, Hitachi Computer Products (America), Albany Molecular Research (AMRI), TaylorMade-Adidas Golf, Boston Market, Cannon-ITT Industries and Dolby Laboratories. MetricStream is headquartered in Redwood Shores, California, and can be reached at www.metricstream.com.

About Tata Consulting Services (TCS)

Tata Consultancy Services (TCS) is the world-leading information technology consulting, services, business process outsourcing and engineering services organization that envisioned and pioneered the adoption of the flexible global business practices that today enable companies to operate more efficiently and produce more value.

TCS achieved this by creating and perfecting a unique method of global deployment and delivery of high-quality, high-value services and products in IT consulting and business process outsourcing. Known as the "Global Delivery Model," this strategic services delivery concept has reshaped the IT services industry.

More than 90 percent of TCS customers reward the company's reliability, passion, creativity, and unique ability to handle the broadest range of their IT needs by continually extending and deepening their partnerships with TCS. With more than 43,000 of the world's best trained IT consultants located in 32 countries, TCS is uniquely positioned to deliver its flexible world-class services seamlessly to any location.

TCS reported consolidated revenues of $2.24 billion (U.S.) in the fiscal year 2004-2005. The company is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information: www.tcs.com.

Contact Information

  • Media Contacts:
    Laurie Gibson
    B3 Communications
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    Breanne Bell
    Tata Consultancy Services
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    303-573-0943