ClusterSeven the only EUC management solution provider in the best-of-breed category
Chartis describes best-of-breed solutions as having best-in-class point solution capabilities, depth of functionality, a growing client base, superior sales and marketing execution and a clear strategy for sustainable profitable growth. Crucially, best-of-breed solution providers demonstrate a healthy rate of investment in R&D, and have specific product or go-to-market capabilities that give them a competitive advantage.
ClusterSeven solution’s key differentiators as emphasised by Chartis include speed of deployment, offering visibility and control, supporting rapid evolution, detecting and escalating anomalies in unstructured data to reduce manual checks, automation and EUC management.
Peyman Mestchian, Managing Partner, Chartis, said, “While many vendors offer some form of EUC management capability, the ClusterSeven solution delivers transparency of all EUC activity to substantial depth across multiple corporate financial and regulatory processes. This is a key differentiator.”
Additionally, Chartis especially highlighted ClusterSeven’s functionality from a regulatory perspective, stating, “ClusterSeven functionality is particularly associated with new or unusual data integrity and control processes, typically associated with new regulatory demands (such as BCBS 239 or stress testing), or processes tied to legacy architecture or customer-specific requirements that cannot easily be met by third-party solutions.”
“Data integrity and quality is fundamental to regulatory commitments of course, but also for the more strategic aspects of business,” commented Chris Gomersall, CEO of ClusterSeven. “The ClusterSeven platform is designed to deliver visibility and control of organisations’ entire EUC landscape to minimise financial, operational, regulatory and reputational risk. We are delighted with our positioning in the quadrant and for the ‘shout out’ by Chartis.”
The full 2016 Data Integrity and Control in Financial Services Report by Chartis is available here: http://www.chartis-research.com/research/reports/data-integrity-and-control-solutions-in-financial-services-2016
Chartis is the leading provider of research and analysis on the global market for risk technology and is part of Incisive Media which has market leading brands such as Risk and Waters Technology. Chartis’ goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant®, RiskTech100® and FinTech QuadrantTM are registered trademarks of Chartis Research (http://www.chartis-research.com).
London-based ClusterSeven has developed a range of market-leading software products that provide oversight and transparency of a firm’s spreadsheets, user-built databases and modelling tools. ClusterSeven’s solutions provide departments such as finance and internal audit full confidence in the integrity of their firm’s spreadsheet data, while also offering substantial savings on the time and resources used to check data processes and accuracy.
ClusterSeven was founded in 2003 and established a New York office in 2006. The firm now has a third of the world’s top 30 banks as clients as well as multiple leading insurers, investment managers and energy firms. In June 2015, private equity firm Azini Capital Partners LLP acquired 100% of ClusterSeven and has provided additional investment to promote high quality product development and wider customer engagement.