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, but their lack of management and audit controls means that highly-regulated businesses lack the data governance controls in their spreadsheet estate that can expose them to regulatory, shareholder, reputational and legal issues caused by flawed regulatory compliance processes and submissions.
What Causes Spreadsheet Risk?
Spreadsheet risk is more likely to occur if you use:
- Complex formulas.
- Sophisticated macros.
- Multiple, integrated spreadsheets.
- Spreadsheets integrated with external data sources and corporate applications.
Why does it matter?
Regulators are increasingly aware how spreadsheets form part of regulated processes and now often need evidence of management controls and data governance, to ensure that regulatory submissions are error-free and a fair reflection of the business.
The Solution: Automated Spreadsheet Risk Management
ClusterSeven offers regulated business automated spreadsheet risk management solutions that allow them to apply the same level of data governance and management control that feature in their corporate IT systems. Our solutions cover a range of compliance regimes including SOX, Basel III, CCAR/DFAST, Solvency II and many others.
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