Prodiance Enterprise Spreadsheet Manager:
Improving Compliance, Audit Efficiency and Accelerating the Close Process
Organizations using uncontrolled spreadsheets in critical business processes including financial reporting, closing the books, tax cycle, reconciliations, cash flow analysis, appraisals, revenue recognition, consolidation, equities trading, and many others are exposed to significant operational risk and non-compliance with regulatory mandates including SOX 404, NAIC Model Audit Rule, FDICIA, OCC, FSA, Basel II, and MiFID. Leading tax and audit firms recommend that organizations establish effective internal controls to help mitigate risk, increase transparency and improve compliance.
Prodiance Enterprise Spreadsheet Manager (ESM) is an enterprise class risk and compliance management system for mission critical spreadsheets, Access databases, and other end-user computing (EUC) applications. Prodiance ESM delivers powerful capabilities to help embed the proper safeguards and internal controls for critical spreadsheets and EUCs into your everyday business operations, while improving integrity and providing visibility through management reports. The benefit to your organization is improved compliance, increased audit efficiencies, effective risk mitigation, and faster closes.
Key Features and Benefits
- Non-invasive, web based user experience
- Comprehensive cell level audit trails track and report on changes to spreadsheets and Access databases
- Automated version control
- Role-based security and access control
- Optional cell level input control
- 3 levels of control: pervasive monitoring, exception reporting and lock down
- Graphical comparison of changes between versions
- Seamless integration with Microsoft Office 2003 and 2007 SharePoint technologies for document management and collaboration
- Robust workflow to automate review and approval processes and manage policy violations (i.e. fraud events)
- Proactive email alerts and notifications
- Purging and archival of previous versions for increased scalability
- Graphical dashboards with drill down into detailed management reports
- Easy, web based administration
Non-invasive for End Users Prodiance Enterprise Spreadsheet Manager is entirely web-based, which means there is no software to install on end user desktops, no impact on spreadsheet performance, and no change impact to existing business processes. The system is IT friendly and designed for both departmental installations and global deployments.
Satisfies Auditor Guidance & Compliance Mandates Prodiance Enterprise Spreadsheet Manager was designed in close partnership with Microsoft and leading tax and audit firms to satisfy compliance mandates for SOX 404 IFRC, so all key controls including change control, access control, version control, input control, overall analytics, back-up and archival, documentation, security and data integrity, and segregation of duties/roles/procedures are built-in. The result is that your mission critical spreadsheets are managed with the highest level of file integrity and trust throughout their lifecycle.
Flexible File Storage Options Prodiance Enterprise Spreadsheet Manager supports storing files on corporate file shares to satisfy auditor compliance mandates; however, it also delivers advanced document management and collaboration features through native integration with Microsoft Office SharePoint Services and SharePoint Server 2007.
Automate Review & Approval Processes To help speed review, approval, and signoff on spreadsheet changes, Prodiance Enterprise Spreadsheet Manager incorporates powerful workflow capabilities. Graphical dashboards and automated reports help management teams and auditors track inventories, risk levels, approvals, and manage exceptions. Integration with Microsoft Office and email ensures that users continue working in their native environment, promoting ease-of-use and end user adoption.
Ready to Take the Next Step? Sign up for an online seminar or contact a Prodiance representative to schedule your personalized product demonstration today!