Success stories - ClusterSeven

We pride ourselves on having a fully reference able and active customer base. Find our what customers say about the benefits of using ClusterSeven to help ensure governance, risk and compliance best practice in their organizations.

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  • Shawbrook Bank

    Shawbrook Bank, a specialist UK savings and lending bank founded in 2001 to serve the needs of SMES and individuals in the UK. At 31 December 2016, the bank’s total lending reached more than £4.1 billion and has raised over £3.9 billion in deposits since its launch.

    Shawbrook has deployed a central ClusterSeven provided platform for the management of business-critical spreadsheets.  The Bank’s adoption of ClusterSeven is a key element of bank’s strategy to build and strengthen its model risk management capabilities and provides the Operational Risk team with central, automated oversight of all the Bank’s major spreadsheets and EUC models. The solution non-intrusively manages all Shawbrook’s business-critical spreadsheets, providing automated audit trails that highlight when and what changes have been made by individuals in the Bank’s high-risk applications.

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  • BlackRock® is one of the world’s pre-eminent asset management firms and a premier provider of investment management, risk management and advisory services to institutional, intermediary and individual investors around the world.

    BlackRock is a fast paced firm with new products and processes being created all the time. Excel plays an important role in innovation and is often used to prototype these products and processes. Whilst being innovative, it is important that controls are in place to prevent Blackrock being exposed to monetary, reputational and technology risk. The challenges presented were:

    • Reduce and control spreadsheet risk
    • Add control without making it onerous for users
    • Meet regulatory requirements around the use of spreadsheets in business critical processes
  • Colorado-headquartered Janus Henderson is a leading global investment manager with approx. $180 billion in assets under management (as of 31 December 2014). The firm offers institutional and intermediary clients as well as individual investors complementary asset management disciplines including growth, core and value equities, fixed income and mathematical investing. Outside the US, Janus Henderson has offices in a number of financial centres including London, Tokyo, Hong Kong and Singapore.

    Janus Henderson identified that a large number of internal processes and functions were tied to and heavily reliant on spreadsheets. The firms’ Operational Risk Team coordinated an exercise to self-identify the use of spreadsheets by department – with the results confirming the pervasive use of spreadsheets and, more importantly, the operational dependencies many processes had to spreadsheets. From benign checklists and logs to critical business processes and calculations, the review exercise found that spreadsheets had become an integral tool to the business units. However – and most significantly – the Operational Risk Team found that in most cases, the control environment needed to be strengthened.

  • European Credit Management

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    European Credit Management is a fast growing, award-winning independent investment management company that specializes exclusively in European fixed income. European Credit Management has approximately €12.5 billion (U.S.$16 billion) in total assets under management.

    European Credit Management has a diverse client base including insurance companies, pension funds, asset management companies, commercial bank treasury departments, central banks, private banks and corporates. The company employs an analytical, research-based approach to investment. It prides itself on providing the highest quality reporting, control and transparency across its portfolio and risk management systems. It uses software from Infosys and SunGard and others to support internal processes. Spreadsheets are used  to cross-check central systems and as a quick and efficient reporting tool. They are also used as a testing ground to model and adapt European Credit Management’s products and services to the requirements of its clients.

  • Aberdeen Asset Management

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    Aberdeen Asset Management is one of Europe’s largest public, pure-play asset management groups, serving institutional investors such as insurance companies, pension funds, treasuries, banks, sovereign wealth funds, family offices and foundations. In 2014 Aberdeen Asset Management acquired The Scottish Widows Investment Partnership (SWIP) from Lloyds Banking Group.

    As in other financial institutions, SWIP utilises a number of complex connected end user computing processes, including market feeds owned by Lloyds, which needed decoupling from the business following the acquisition. In deploying ClusterSeven technology SWIP de-risked the separation of the businesses and the subsequent migration from Microsoft Office 2003 to Office 2010.

  • Dresdner Kleinwort

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    Dresdner Kleinwort, the investment bank of Dresdner Bank AG, is typical of large banks, which have a vast number of autonomous spreadsheets supporting a range of business-critical functions. In 2005, Dresdner Kleinwort turned to ClusterSeven to help manage its spreadsheets, initially in the product control and finance departments, in order to reduce the operational risk inherent in running a large number of business-critical spreadsheets.

    The implementation of ClusterSeven’s technology allowed Dresdner Kleinwort to control changes over its spreadsheet applications and track all changes made at a cell level. In doing so, it reduced the time spent trying to manage and maintain these applications without locking them down or reducing their effectiveness.

Example use cases

Organizations rely on spreadsheets in a variety of ways and as a result there are many different ways in which ClusterSeven can assist and add value to a business.

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Let's talk about how ClusterSeven can increase transparency and control around your spreadsheets and give you confidence in your business critical processes and the accuracy of your data empowering you to make informed business decisions.

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