London, U.K., 22 March 2018F1F9, one of the UK’s most successful spreadsheet modelling and training companies, has partnered with ClusterSeven, the leading global supplier of strategic spreadsheet management software, to offer an extended model review service to its customers. Leveraging the version comparison capabilities of ClusterSeven’s Cloud Spreadsheet Manager (CSM) solution, and the collaborative working process it enables, F1F9 will offer its customers a self-service monitoring capability for their business-critical spreadsheet models and files.

Morten Siersted, Founder and Director, F1F9 said: “Spreadsheets are powerful, and often the preferred tool for business modelling. But because Excel is easy to use, it can easily be used badly, which presents a potential risk to the business.

Over the years we have seen the management and audit of spreadsheets develop. At first, spreadsheet review was done almost on a cell-by-cell basis. The next step was to introduce shadow modelling, where parallel models are used to validate modelling results, using the same inputs. We see ClusterSeven’s CSM tool as the next stage of evolution in model validation. CSM enables serious Excel users and modellers to simplify and streamline their business processes, by removing the burden of time and resources spent reviewing and documenting changes in spreadsheet models.

The on-demand service uses a secure cloud based environment, and enables us to interact and collaborate quickly and effectively with our clients.  This delivers our clients more flexibility and increased control whilst extending F1F9’s bandwidth, to provide a better service.”

F1F9 selected ClusterSeven’s CSM solution for its intelligent approach to comparing versions of spreadsheets. It features advanced algorithms, a smart user interface, and a highly secure and resilient platform, based on Microsoft’s Azure platform. It provides flexibility, performance and scale to its partners and clients.

Tony Bethell, VP of Strategic Alliances, ClusterSeven, commented, “The CSM platform delivers impressive ROI whether measured by time, effort or cost and ClusterSeven is seeing significant take-up of the platform. CSM automates what was a previously a manually intensive process and transforms Excel development and modelling for our clients.  Our business partners are leveraging our technology to develop new lines of business, and to generate new revenue streams.

“This partnership with F1F9 is an example of ClusterSeven’s innovative approach to supporting partners with new business accelerators and cloud solutions to help them extend their traditional offerings to customers for competitive advantage.”

 

About ClusterSeven

London-based ClusterSeven develops enterprise spreadsheet risk management solutions for institutions looking to enhance the oversight and transparency of their business-critical spreadsheet environment. Our solutions have applications across multiple sectors, covering internal audit, modelling, stress testing, regulatory reporting, compliance, management reporting, business operations and more. We work closely with our diverse partner community to develop solutions to cost-effectively manage and mitigate the risks of using flexible and powerful spreadsheets in mission-critical business processes. Our solutions are available in the Cloud, and on customer site.

ClusterSeven was founded in 2003 and established a New York office in 2006. The firm now has a third of the world’s top 30 banks as clients as well as multiple leading insurers, investment managers and energy firms. In June 2015, private equity firm Azini Capital Partners LLP acquired 100% of ClusterSeven and has provided additional investment to promote high quality product development and wider customer engagement.

 

About F1F9

Over the past 18 years we’ve helped develop the most widely adopted, independently administered financial modelling standard – The FAST Standard. We have taught our team to model following this standard along with over 20,000 people worldwide. We have built thousands of models using FAST and our customers are using them every day in their businesses.

We are always looking for new ways to collaborate and help you build financial models that solve your business problems. Our team of 30 professional modelers are ready to help.

 

For more information about F1F9, visit www.f1f9.com.

For any PR & Media inquiries, please contact Graham Machray at PR@clusterseven.com.

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