Business & technology transformation
ClusterSeven delivers spreadsheet risk management solutions to organizations looking to enhance their enterprise risk management, whether it is to further develop the management of the business, address critical audit issues, or streamline their regulatory compliance processes.
Spreadsheet risk comes from the uncontrolled use of spreadsheets in key business processes and reports. Despite extensive investment in corporate IT systems, spreadsheets remain a core part of many business-critical processes.
Spreadsheets provide huge power and flexibility to users, and often bridge the gap between what the business needs and what the IT function can deliver. Without them businesses would lose much of their dynamism and flexibility. However, their very power and flexibility means that they are widely used, but largely uncontrolled. When planning a business transformation, such as a merger of disposal, or a technology upgrade or outsourcing project, the significance of the spreadsheets estate is easy to underestimate. Equally not accounting for them fully in a project plan can expose the transformation project to cost and time overrun at least, or even outright failure.
Spreadsheet risk is a significant project risk, and needs to be fully understood, documented and managed throughout the whole project, from conception, planning, execution and post-move testing.
What Causes Spreadsheet Risk?
Spreadsheet risk is more likely to occur if there is:
- Little understanding of what spreadsheets are used throughout the business and which are the most important.
- Little understanding of the business impact of failures in these most significant spreadsheets.
- A lack of clear ownership of spreadsheets across the business.
- A lack for a process around how changes are made to spreadsheets, whether data of function.
- There are spreadsheets of such complexity, that it can be difficult to define the risks these spreadsheets present to the business.
Why does it matter?
Transformation – both operational and technological – is a near constant for many businesses, as they flex and change to meet the changing needs of their customers. A successful transformation project can help the business to thrive and develop. A flawed project can create new problems and hold the business back.
Having a firm grasp of a business’ key business spreadsheets, their significance to the business, their location, their ownership and dependence on corporate applications will provide a solid foundation for planning the successful migration of the spreadsheet estate into its new environment, or decommissioning spreadsheets that no longer meet the business’ need. This approach allows the spreadsheet estate to defined, migrated and implemented much like any corporate application. This ensures that the spreadsheet phase of the change project goes off smoothly, reducing project risk, time, as well as budget.
The Solution: Automated Spreadsheet Risk Management
ClusterSeven offers automated spreadsheet risk management solutions that allow business to manage their spreadsheet estate in the same they manage their corporate IT applications, providing comprehensive governance and control. Our solutions allow project offices, project managers, line of business owners and staff to fully understand the nature of their spreadsheet estate, its business value and the inherent risk. This approach allows them to plan, manage and execute any transformation project, safe in the knowledge that the spreadsheet sheet estate, and the critical business process they assure, will work just as well as the transformation as before.
Get in touch
Let's talk about how ClusterSeven can increase transparency and control around your spreadsheets and give you confidence in your business critical processes and the accuracy of your data empowering you to make informed business decisions.Contact Us