EASA to licence ClusterSeven Cloud Spreadsheet Manager to help customers accurately self-web-enable business critical spreadsheet models
EASA helps organizations across industries to web-enable a wide range of models used for CPQ (Configure, Price, Quote), engineering and pharmaceutical design, proposal generation, scenario modeling, actuarial calculations, and financial and cost modeling, to name a few examples.
Additionally, EASA has entered into a licensing partnership with ClusterSeven to offer CSM as a company branded spreadsheet management solution to customers who prefer to self-author the conversion of spreadsheets-based models into web applications.
“Excel spreadsheets remain a widely used tool for many critical business processes, but invariably are entirely unmanaged,” explained Sebastian Dewhurst, Director of Business Development at EASA Software. “This lack of proper management and governance is a major problem and poses a tangible risk to businesses, if left uncorrected. Prior to deploying these processes and models as web applications for our customers, we undertake a stringent review of the template spreadsheet models manually to ensure their integrity. However, automation is the only near fool-proof way of ensuring the integrity and proper functioning of these models – both at the time of conversion and later, during the lifecycle of the applications. We have adopted ClusterSeven to ensure best practice and efficiency.”
Tim Valachovic, Director of Technical Services, added, “Many of our customers are moving their EASA installations to the cloud and so adopting CSM was a no brainer. CSM also enables us to provide our customers, who want to undertake the web-enabling process themselves, with a reliable and proven self-service spreadsheet management tool.”
The transformation of spreadsheet-based critical business models into web applications bridges the gap between end-user computing and enterprise systems. The cost saving for customers is significant as web-enabling spreadsheet models eliminates the need to rewrite them as new applications to make them enterprise-grade. The other benefits of web-enabling critical spreadsheet-based models include version control and intellectual property protection, auditability and compliance, accessibility for multiple users via browser, and/or mobile devices – regardless of local infrastructure such as Excel version, operating systems and so on.
However, uncontrolled and unmonitored use of spreadsheet models carry a high risk of errors due to version control chaos, overwriting by users, and lack of visibility of lineages across data sources, to name a few. All this greatly impacts the accuracy of outputs of the models, as even a single error in a cell, macro or formula can completely invalidate their output, and often to the detriment of projects and business.
Today, with CSM, EASA’s consulting group is ensuring the integrity of the spreadsheet applications – before deploying them as web applications for customers. Even during the lifecycle of a web-enabling project, EASA has complete visibility and transparency of the changes made to the spreadsheet models, fully supported by an evidencable audit trail. Users in the group can compare multiple versions of a spreadsheet to quickly identify how it has changed, and its impact on the data lineage across the spreadsheet landscape.
The same benefits will accrue to EASA’s customers who choose to self-web-enable their business-critical, spreadsheet-based models via the company’s low-code development platform.
Tony Bethell, VP of Strategic Alliances, ClusterSeven, commented, “Time and again, it is being proven that while spreadsheets are excellent tools for engineering design, all types of critical business modelling and simulation, their uncontrolled use has the potential to bring organizations down to their knees should an error occur in the files. EASA recognizes the risks of spreadsheet usage and is leading the industry by example in adopting best practice-led spreadsheet management. In doing so, it is almost entirely negating the risks of spreadsheet usage for its customers and enabling them to fully leverage the true capability of this highly flexible tool for modelling.”
London-based ClusterSeven develops enterprise spreadsheet risk management solutions for institutions looking to enhance the oversight and transparency of their business-critical spreadsheet environment. Our solutions have applications across multiple sectors, covering internal audit, modelling, stress testing, regulatory reporting, compliance, management reporting, business operations and more. We work closely with our diverse partner community to develop solutions to cost-effectively manage and mitigate the risks of using flexible and powerful spreadsheets in mission-critical business processes. Our solution are available in the Cloud, and on customer site.
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.
EASA (Oxford, UK, and Tampa, FL) enables the codeless creation of enterprise-grade web apps that drive existing Excel spreadsheets, workflows and other software assets. This helps companies with critical business logic embedded in spreadsheets overcome the “spreadsheet chaos” which occurs when spreadsheets are shared with many end-users, and helps them achieve version control, capture data that would otherwise remain in flat files, secure intellectual property, and integrate with other enterprise systems such as CRM.