Spreadsheets are a cornerstone of financial analysis and distributed financial record-keeping for companies across the globe. Importantly, spreadsheets are also used for the vast majority of critical operational decision-making within companies, and most line items for external reporting trace their origins to some spreadsheet cell. These critical spreadsheets typically reside on countless servers and desktops found everywhere in the company.

Finance teams and auditors everywhere know that there is a very high likelihood of multiple material errors in key spreadsheets that are used every day in their company. Compassoft Enterprise solves this problem.

Automated Management and Control

With Compassoft Enterprise, chief financial officers, controllers and internal auditors can set risk policies based on their business. Compassoft’s solution uses these policies to continuously flag potential problems within spreadsheets down to the cell level.

By automating spreadsheet quality control, auditors can immediately detect violations to company spreadsheet policies in new or revised spreadsheets to mitigate financial risk from honest mistakes or fraud.

Individuals and financial groups responsible for data integrity and compliance will have added peace of mind with Compassoft's continuous control monitoring that scans mission critical spreadsheets. An alert is triggered if the contents of a spreadsheet fall outside of acceptable standards and rules set by the companies themselves.

Five Elements of a Spreadsheet Control Process

Compassoft Enterprise works within the parameters of a continuous spreadsheet control process that includes the following five elements:

1. Set control policy to determine spreadsheet risk parameters and the appropriate alerts and processes that will be triggered by the criteria;
2. Create a living inventory of all new and changed spreadsheets on an ongoing basis -- without the need for a desktop agent on the monitored computers;
3. Automate risk assessment and prioritization to make it possible to continuously enforce policies, monitoring and controlling thousands or even millions of spreadsheets that would be impossible if done manually;
4. Analyze and baseline the data to detect and remove errors, eliminate fraud vulnerabilities and create documentation;
5. Monitor and manage spreadsheet contents and external dependencies based on risk category.

Benefits Across Your Enterprise

Compassoft Enterprise provides a comprehensive software-based approach to sustainably manage and control all spreadsheets and other end-user applications in your company.

Through the use of Compassoft Enterprise, our customers have lowered the risk exposure from spreadsheets while supporting corporate governance initiatives and streamlining business operations. By providing Finance and Compliance professionals with the controls to ensure the integrity and security of previously unmanaged information while ensuring that IT groups have the information visibility console needed to support those efforts, it’s easy to see why Compassoft has the most successful solutions for managing spreadsheets and other end-user applications in the industry.

> Learn More at our upcoming Webinar!