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ClusterSeven Announces Prominent South African Bank as New Customer.


New business relationship achieved through strategic alliance enhancing compliance, fraud detection capabilities

LONDON London, city, Canada
London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826.
 & NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 -- ClusterSeven (London and New York), an international provider of spreadsheet spreadsheet

Computer software that allows the user to enter columns and rows of numbers in a ledgerlike format. Any cell of the ledger may contain either data or a formula that describes the value that should be inserted therein based on the values in other cells.
 management solutions that enhance risk management, compliance and business efficiency for financial institutions and Fortune 500 financial reporting divisions, announced it has signed up a prominent South African bank as a customer.

This customer acquisition was achieved in collaboration Working together on a project. See collaborative software.  with a new partner silverminute, a specialist in financial investment management. The alliance with silverminute utilizes ClusterSeven's technology to further enhance silverminutes's compliance, governance Governance makes decisions that define expectations, grant power, or verify performance. It consists either of a separate process or of a specific part of management or leadership processes. Sometimes people set up a government to administer these processes and systems.  and risk management for financial institutions. The ClusterSeven product suite strategically converts spreadsheets The following is a list of spreadsheets. Freeware/open source software
Online spreadsheets

Main article: List of online spreadsheets
  • EditGrid [1]
  • Simple Spreadsheet [2]
  • wikiCalc
 into an agile but controlled business infrastructure that reduces costs, delivers more efficient business processes and eliminates operational losses. More tactically, it also provides investigative functionality to expose problems plus rapid control capabilities to address immediate challenges such as audit weaknesses.

"Many compliance products claim to deliver permanent business efficiencies but come up short in the areas of governance and risk management," said Neil Rowatt, founding partner of silverminute. "ClusterSeven thoroughly meets these demands while enabling financial institutions to cut costs and make the most of the systems they have, placing it in a unique position within the world of spreadsheet management. This alliance will continue as both companies have several mutual customers in both the UK and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. ."

"Our alliance with the silverminute team helps increase ClusterSeven's visibility internationally because governance and risk management are the most vital components to the health and performance of any financial institution looking to weather the storm in 2009," said Ralph Baxter Bax´ter

n. 1. A baker; originally, a female baker.
, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of ClusterSeven.

About ClusterSeven

ClusterSeven (London and New York) provides enterprise-wide, strategic spreadsheet and data management software to financial institutions and Fortune 500 financial reporting divisions. ClusterSeven's software non-intrusively monitors and tracks spreadsheets to enable users to more effectively manage governance, risk and regulatory compliance obligations in order to generate revenue, enhance staff efficiency and boost productivity. For more information about the company, visit clusterseven.com.

About silverminute

silverminute (London and South Africa) delivers strategic technology advice and solutions to investment management firms. silverminute offers value to investment management firms through a combination of business knowledge, implementation and delivery expertise and innovative software products. For more information, visit silverminute.com.
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Publication:Business Wire
Date:Apr 7, 2009
Words:372
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