Product Overview

Spreadsheets are core to the operations of most businesses. Whether the use is to support trading, position keeping, risk management, product control, accounting or financial and regulatory reporting, spreadsheets provide the business with great flexibility, and a speed of development that formal application systems will never be able to compete with.

And with an increasing need for rapid business innovation but with little time or budget to develop formal systems the use of spreadsheets will grow.

Organisations face a dilemma. Spreadsheets have inherent weaknesses, can create serious control issues, unacceptable levels of operational risk and high maintenance costs, yet companies are forced to live with these problems, because of the cost and time required to migrate off spreadsheet applications

However there is a solution.

Spreadsheet Workbench brings spreadsheets under control and provides a flexible enterprise wide spreadsheet management and compliance solution for the rapid control and development of business critical spreadsheet applications.

Key elements of the solution are:

An enterprise wide multi-user repository with full version management of spreadsheets
Comprehensive security and access control
Complete audit trail and exception reporting
Powerful analytics for spreadsheet comparisons
Advanced business logic validation
A spreadsheet development framework that enables users to develop robust spreadsheet applications.

By implementing Spreadsheet Workbench companies can now gain immediate control of their legacy spreadsheet applications and meet the most stringent access control and monitoring requirements. Access to spreadsheets is now fully controlled and management has oversight of all spreadsheets and the changes made.

Users can rapidly develop sophisticated multi-user spreadsheet applications, with all the flexibility of a standard spreadsheet and which can be automated and scaled to high volumes as the business expands.

Spreadsheet Workbench is fast to implement. The initial focus can establish rapid control in a priority business area or over the most critical of spreadsheet applications with subsequent wider rollouts within the organisation being easily achieved. The reduction in operational risk is significant whilst the return on investment is high.

To find out more about how Spreadsheet Workbench can help your organisation contact Finsbury Solutions now.

Example applications:
Spreadsheet legacy
Oversight, change tracking, access and version control of the existing spreadsheet population.

Sarbanes-Oxley Act, Basel II and MiFID
Requirements from Sarbanes-Oxley, Basel II, MiFID and other legislation can be addressed through the deployment of Spreadsheet Workbench.

New product processing and accounting
Reduce time to market for new or complex products in a controlled environment. Ability to scale to high volumes without reducing flexibility.

Budgeting, planning and financial consolidation
Financial consolidation and planning tailored to the specific needs of the business, with a familiar spreadsheet user interface.

Reconciliations
Control, automate and monitor spreadsheet based reconciliations.