31 October 2014

Investec Bank chooses ClusterSeven for spreadsheet management

01 September 2014  |  1206 views  |  0 Source: ClusterSeven

Investec Bank Plc (“Investec”) has become the latest bank to award a contract to data management and spreadsheet control specialist ClusterSeven.

Investec has selected ClusterSeven’s Enterprise Spreadsheet Management (ESM) software to provide control for its key business spreadsheets and the data they manipulate.

Investec is an international specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia as well as certain other countries. The group was established in 1974. Investec focuses on delivering distinctive profitable solutions for its clients in three core areas of activity namely, Asset Management, Wealth & Investment and Specialist Banking.

ClusterSeven’s end-user computing management solutions enable financial services firms and other leading institutions to maintain the transparency and integrity of their spreadsheets and data files in order to increase productivity and business insight and to reduce operational risk.

Bernard Fromson, Head of Analytics, Corporate and Institutional Banking at Investec, said: “In addition to improving the operational control and governance of our business spreadsheet activity, we are particularly interested in using ClusterSeven’s software to explore new business trends through greater analysis of our financial data.”

Ralph Baxter, CEO of ClusterSeven, said: “We are delighted that Investec has selected us to enhance its business and data operations. Many high value and specialist business activities are dependent on spreadsheets to complement core systems. Increasing emphasis on risk management and data quality has exposed spreadsheet management as a major opportunity to reduce operational risk and deliver efficiencies.” 

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