ClusterSeven Provides Cloud Access to Enterprise Class Spreadsheet Management Solution

LONDON, September 26, 2017 /PRNewswire/ --

ClusterSeven, the leading global supplier of strategic spreadsheet and end-user computing (EUC) management software, has launched Cloud Spreadsheet Manager (CSM), an enterprise level, on-demand spreadsheet management solution. CSM will enable organizations to have complete control of their spreadsheet environment to support audit and compliance, governance and financial reporting in the most efficient and productive manner.

Organizations will have the ability to risk check files for errors, compare multiple versions of a spreadsheet to ensure accuracy and manage business-critical spreadsheets with an automatic audit trail in the cloud - in parallel to their enterprise systems - whenever and from where ever they need to. CSM is delivered securely via the Microsoft Azure platform. ClusterSeven is a Microsoft Gold certified partner and a member of the company's Independent Software Vendor program.

"Financial reporting is putting a major strain on the office of the CFO and the need for transparency around the creation of critical reports has never been greater. In addition to internal reporting, regulatory compliance demands such as Sarbanes Oxley is growing. For instance, the Public Company Accounting Oversight Board (PCAOB) is demanding that organizations institute tighter reporting controls and demonstrate evidence of those processes," explained Henry Umney, CEO of ClusterSeven. "With spreadsheets used extensively for modelling and reporting, organizations need anytime, anywhere access to spreadsheet management and risk checking processes to ensure timely, accurate reporting. CSM delivers against these requirements."

Recent research by the FSN Modern Finance Forum reveals that financial reporting is keeping 97% of CFOs awake at night. This finding is based on the largest and most authoritative global survey of its kind.

CSM enables organizations to understand the complexity of spreadsheets and identify where there might be potential for error so that the issue can be proactively remediated by amending the spreadsheet design or implementing stronger controls and usage policies. "This type of remediation is where the ClusterSeven Partner Network adds significant value. Many of our partners are developing specific offerings around CSM to deliver innovative value-added services to their customers," commented Tony Bethell, VP Strategic Alliances.

Often multiple versions of a spreadsheet get created by users. CSM allows users to compare different versions of a spreadsheet to quickly identify how it has changed, enabling organizations to reduce the risk of errors in business-critical applications. This will facilitate increased confidence in the accuracy of data used for audit and compliance and financial reporting.

To enable organizations to get a feel for the value the solution delivers first-hand, ClusterSeven is offering a free evaluation of CSM's risk check functionality. Organizations can risk check with no financial commitment and learn how CSM can reduce the risk of errors, increase user productivity and ensure accuracy of critical spreadsheets for reporting, board packs and business models. Organizations can apply to participate in this offer by emailing on [email protected] .

ClusterSeven is also hosting a joint webinar with Microsoft on 24 October 2017 to showcase CSM. To register, email Andrew MacAskill on [email protected].

About ClusterSeven 

London-based ClusterSeven has developed a range of market-leading software products that provide oversight and transparency of a firm's spreadsheets, user-built databases and modeling tools. ClusterSeven's solutions provide departments such as finance, regulatory reporting, stress testing, operations 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 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.

For more information about ClusterSeven, visit www.clusterseven.com.

For any PR & Media enquiries, please contact Laura Whitehead at [email protected]

SOURCE ClusterSeven