NEW YORK--(BUSINESS WIRE)--Schroders Investment Management (“Schroders”) has become the latest financial services firm to award a contract to data management and spreadsheet control specialist ClusterSeven. Schroders has selected ClusterSeven’s Enterprise Spreadsheet Management® (ESM) software to provide control for its key business spreadsheets and the data they manipulate.
Schroders is an independent asset manager with a strong heritage and culture based on over 200 years' experience of investment markets. Schroders manages £271.5 billion (EUR 339.0 billion/ $464.1 billion)* on behalf of institutional and retail investors, financial institutions and high net worth clients from around the world.
ClusterSeven’s end-user computing (EUC) management solutions enable financial services firms and other leading institutions to maintain the transparency and integrity of their spreadsheets and data files in order to increase productivity and business insight and to reduce operational risk.
Nick Lloyd, Head of Investment Technology at Schroders said: “Using ClusterSeven has given us a good understanding of the extent of spreadsheet activity within our business. The software will help us to improve our operational controls and governance, including better data quality, lower manual costs, and better insight for our IT development plans.”
Ralph Baxter, CEO of ClusterSeven, said: “We are delighted that Schroders has selected us to support their business. Many high value and specialist business activities are dependent on spreadsheets to complement core systems. Increasing emphasis on risk management and data quality has exposed spreadsheet management as a major opportunity to reduce operational risk and deliver efficiencies.”
*as at 30 June 2014