Spreadsheet the weak link in any M&A-led transformation programme
Mergers & acquisitions offer great strategic opportunities for organisations, with the current disposal of non-core businesses by large global banks offering the potential for other financial institutions to propell themselves to the top of the industry. However M&A activity comes with significant challenges, including the need to disentangle processes from the organisation’s original environment in a timely manor in order to meet stringent regulatory deadlines. Poor IT integration, data almalgamation, compliance issues and the proliferation of the Microsoft Excel spreadsheet all present hurdles when divesting and merging entities.
In an article published in Finance Monthly, Henry Umney, Director at ClusterSeven, outlines the benefits of understanding the scale and complex linkages of the spreadsheet landscape across an organisation at a time of M&A-led transformation. Henry cites the acquisition of the Scottish Widows Investment Partnership by Aberdeen Asset Management as an example of how utilising technology to expose the data lineage of business critical files allowed the secure migration of relevant processes to the new combined entity.
The full article can be read in the July issue of Finance Monthly.