This release is focused on the new requirements emerging from the global focus on bank stress-testing.
In particular, ClusterSeven Enterprise Spreadsheet Manager v9.0 builds on the successes of this flagship solution, adding new, intuitive web-based analysis of spreadsheet inventories and user activity, plus rich workflow commentary. It is the first software release since ClusterSeven was acquired by private equity company Azini Capital in June 2015.
Stress testing demands the collection of vast, disparate data from every department of a firm, followed by complex filtering and financial analysis. All of this must be done at speed and without the benefit of established IT solutions. This demand is satisfied by financial professionals building new applications outside their IT function: these applications are seen as financial models, tools or components and are collectively called end user computing (EUC). However, they rarely meet the same quality and security standards required of formal IT. Spreadsheets are the most common form of EUC but there are many other types.
ClusterSeven solutions provides agile controls and visibility for all of this user activity, including file discovery, living inventories and file change management right down to the cell level.
To showcase the latest version of its software, ClusterSeven will be exhibiting at three major industry conferences across the second half of 2015:
- Stress Testing Europe 2015 – September 29-30, London
- New Generation Operational Risk: Americas – October 5-6, New York
- Stress Testing USA 2015: DFAST Edition – October 27-28, New York
Ralph Baxter, CEO of ClusterSeven, said: “Spreadsheets remain the wild west of the end user computing world. The new functionality of our flagship solution provides faster insight for users and managers to manage their reliance on spreadsheets. It is an important milestone in our delivery of agile controls for agile business processes. I look forward to discussing our latest improvements with our clients and other stakeholders at these forthcoming conferences.”
London-based ClusterSeven has developed a range of market-leading software products that provide oversight and transparency of a firm’s spreadsheets and user-built databases. These technology assets are sometimes called the ‘dark matter’ of IT as they are often forgotten or ignored. ClusterSeven’s solutions give functions such as finance, risk and internal audit full confidence in the integrity of their firm’s spreadsheet data, while also offering substantial savings on the time and resources used to check data processes and accuracy. 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, private equity firm Azini Capital Partners LLP acquired 100% of ClusterSeven and will be providing additional investment to promote high quality product development and wider customer engagement.
For more information about the company, visit www.clusterseven.com. For a demonstration please visit Get Started.
Hugh Fasken/ Judith Massey – Dewe Rogerson, 020 7282 2854