Source: Business Control Solutions Group
Enterprise Solution Providers, Inc. (ESP), a leading consultancy to the financial services industry, and Business Control Solutions Group plc (AIM: BCT.L), provider of management consultancy services and operational control software to the financial services sector, have today announced a new partnership agreement.
This move will see ESP deliver Business Control Solutions' financial control software offering, BCS Integrity, to financial services firms in the U.S.
BCS Integrity improves financial control and reduces operational costs by managing and standardizing account reconciliation and substantiation processes. It enforces both ownership of accounts as well as accountability for the substantiation and certification of balances. An overarching control solution, it also assists with audits, Sarbanes-Oxley compliance and month-end reporting. As the most regulated market in the world, ESP and Business Control Solutions believe there is a significant market for this solution in the U.S.
"Our partnership with Business Control Solutions will enable us to bring a strong tool for balance sheet substantiation to new and existing clients," said Joseph Normandeau, vice chairman of ESP. "BCS Integrity will further expand our full service portfolio of solutions and deliver clear business benefits to our clients. As financial operations processes become more complex and regulations more stringent, the need for effective controls further increases. We are therefore confident in the success of this strategic alliance."
ESP will sell and implement BCS Integrity, which was launched in February of this year and is currently being deployed by one of the world's largest financial institutions. Designed to reduce control costs, it drives efficiencies and ensures transparency in all financial services organizations, from smaller firms through to complex, global environments with multiple general ledgers and supporting software applications.
Commenting on the partnership with ESP, Nigel Walder, CEO of Business Control Solutions Group plc said: "One of our strategic aims for sometime has been to move into the U.S., the largest financial services market in the world. The current volatility in the global markets is lending itself to the increased awareness of control requirements and we believe ESP is greatly positioned to help us deliver on our goals in this key market. ESP came highly recommended to us and proved the ideal partner for the U.S., due to its consultancy expertise and unsurpassed industry knowledge."