Bloor Research Stresses Urgency for Public Companies to Control Excel Spreadsheet Chaos

Report Reaffirms Compassoft as Market Leader

Scotts Valley, CA – June 15, 2007 – Bloor Research (www.bloor-research.com) evaluated 16 vendors serving the enterprise spreadsheet management market in its newly released Spreadsheet Management Report, and declared Compassoft as the market leader with the largest customer base and the strongest discovery and compliance solution.

“Spreadsheets, used improperly or without sufficient control, pose a greater threat to your business than almost anything you can imagine,” stated Philip Howard, research director at Bloor Research. “A further complication is that most large organizations have probably thousands, if not tens of thousands, of spreadsheets distributed across the enterprise. Not only are these uncontrolled, they are unknown.”

“This Bloor Research report is an excellent wake up call for public companies to address the greatest threat to their business, out of control end user computing applications,” said Paul Bach, CEO of Compassoft.  “Compassoft has developed very deep domain expertise around discovering, validating and controlling spreadsheets and other end user applications. We’ve helped thousands of people solve these exact problems that Bloor Research is highlighting.”

To learn more about how Compassoft addresses the threat of out of control spreadsheets, sign up for the Compassoft “Enterprise Spreadsheet Control” webinar at http://www.compassoft.com/events.htm

About Compassoft
Compassoft is the market leader of enterprise spreadsheet control and management solutions. Over 160 public companies use Compassoft products to control their end user computing applications with the following benefits; controls all spreadsheets used for financial reporting; enables superior management decisions through error-free reports, spreadsheets, and databases; identifies and eliminates fraud; automatically identifies and prioritizes risk of all spreadsheets across the enterprise; and enforces compliance requirements. Compassoft offers the only solution that discovers, validates and controls both visible and obscure sources of financial information stored on servers, desktops and notebooks distributed across organizations. Headquartered in Scotts Valley CA, customers include the Big Four accounting firms, Allergan, ABN AMRO, Allied Irish Bank, Bruce Power, CitiGroup, Eli Lilly,  FreddieMac, HP, Lloyds TSB, Prudential, Sydney Futures Exchange, Tulane University, Tyson and Venetian Casinos. For more information, please visit www.compassoft.com.

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Julia Glenister, JAG Wire Group
Tel: (415) 459-3688; Cell: (415) 246-6075
compassoft@jagwiregroup.com