Hong Kong-based Shangri-La Hotels and Resorts has deployed an audit management solution from MetricStream to boost its internal audit program, the vendor announced.

 

The MetricStream Audit Management Solution strengthens collaboration on internal audit activities across geographies, automates critical audit processes for better efficiency, and enhances transparency into audit reporting and tracking, according to the company.

 

“Internal audit programs are critical in the hospitality industry to ensure that proper policies, procedures and guidelines are followed for a wide range of operations such as accounting and billing, inventory management, promotional activities, vendor management, and theft and fraud prevention. MetricStream Audit Management Solution helps global hotel and resort operators maintain and uphold high business standards by enabling highly efficient, integrated and collaborative internal audits,” it states.

 

 “We are pleased to have one of the world’s leading hotel groups as a customer,” says Shankar Bhaskaran, GM and VP of International Business Operations at MetricStream. “Across the globe, the hospitality industry is optimistic about growth. At the same, it is rife with fierce competition, high operating costs, increasing regulations, and demands for better customer experience. MetricStream GRC solutions play a central role in addressing these challenges by aligning audit, risk and compliance programs with business performance, and providing the business intelligence and risk analytics required to optimize investment decisions, resource allocation, project scheduling and business planning.”