Prodiance Spreadsheet IQ:
Automating Validation, Error Checking and Remediation
Before applying controls to critical spreadsheets affecting regulatory, P&L reporting and general ledgers, organizations first need to develop proper documentation, perform diagnostics to identify errors, and remediate any errors. Whether these activities are performed by an internal audit function or a consultancy with domain expertise in managing financial risk, Prodiance Spreadsheet IQ is the solution.
Prodiance Spreadsheet IQ is a powerful desktop tool to help organizations automate validation, error checking, and remediation for critical spreadsheets while streamlining ongoing audit efforts to ensure compliance. With Prodiance Spreadsheet IQ, internal training efforts are minimized through native integration with Microsoft Excel, and easy-to-use analytics framework.
Ad-hoc Spreadsheet Inventory To speed the inventory process, Prodiance Spreadsheet IQ leverages a built-in discovery tool to help organizations locate all critical spreadsheets within a network by searching across a variety of disparate content sources (e.g. network drives, document repositories, etc.). After critical spreadsheets has been identified, Prodiance Spreadsheet IQ generates a detailed inventory report of the spreadsheet population, including key metrics such as file name and path, file size, and a variety of other configurable parameters, including the number of formulas, errors, nested IFs, external links, named ranges, blank cells, invisible cells, hidden rows/columns/sheets, locked cells, warnings, etc. For ongoing and automated inventory and risk assessment, Prodiance eDiscovery is recommended.
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Powerful Diagnostics Through a powerful reporting and analytics framework, Prodiance Spreadsheet IQ delivers in-depth diagnostic reports on all critical spreadsheets to help organizations evaluate their complexity, integrity, and identify common errors. Reports include multi-workbook audit trails, workbook and cell analysis, workbook and cell change history, and interactive workbook and cell dependency diagrams. All reports can be printed, exported to Excel and PDF formats, or imported into the Prodiance Electronic Evidence Binder as audit work papers where they are organized, indexed and made searchable.
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Spreadsheet Documentation To improve internal training efforts, Prodiance Spreadsheet IQ incorporates an easy-to-use documentation tool that allows for detailed documentation to be created and organized using a built-in Microsoft Word editor. Spreadsheet documentation is organized in a flexible hierarchy along with optional attachments at each level. For example, documentation can be created at the inventory, spreadsheet, worksheet, and cell levels with attachments at each level. Documentation is stored as a companion file to the original spreadsheet, and is always accessible through the Prodiance Spreadsheet IQ application.
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Best Practices To support spreadsheet development best practices, Prodiance Spreadsheet IQ incorporates an easy-to-use cell painting tool for applying pre-defined color schemes to formulas, errors, input cells, and external links. Color schemes can be defined according to corporate policies and automatically re-applied after spreadsheets are modified.
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Ready to Take the Next Step? If you’re ready to automate validation, error checking and remediation for your organization’s critical spreadsheets, click on one of the resource links to the right, or contact a Prodiance representative today!