| The increasing focus on continuous process | | | | utilization of Spreasheets in critical |
| improvement, risk management and compliance | | | | financial reporting processes. Some have |
| within financial control functions as a | | | | extended the reach of control to include |
| result of the introduction of Sarbanes Oxley | | | | Access Databases too. |
| and other legislation has identified a | | | | |
| potentially critical weakness for many | | | | What we have seen is a range of solutions, |
| corporates. | | | | some basic - some very elaborate, that |
| | | | feature a range of activities including |
| The reliance on Spreadsheets for critical | | | | federated search, inventory, risk assessment, |
| financial reporting processes, consolidation, | | | | remediation, secure storage, access control, |
| reconciliations, commission calculations, | | | | version control, change management, link |
| revenue recognition and other finance | | | | migration management, cell by cell auditing |
| processes leading up to the release of | | | | and dashboard reporting features. |
| financial statements is a major risk for many | | | | |
| major corporates. | | | | The leading provider right now is Prodiance |
| | | | Inc. a partner of Trintech Inc. a leading |
| The lack of risk management processes around | | | | provider of reconciliation, compliance and |
| these Spreadsheets is another major audit and | | | | risk management technologies. Competition |
| compliance risk. | | | | comes from Cluster Seven, Finsbury and a |
| | | | clutch of others that have tried and failed |
| Recently, a clutch of software companies have | | | | to match Prodiance's lead in the market |
| launched technological solutions to help | | | | place. |
| organizations tackle the risk involved in the | | | | |