ClusterSeven Cited as Best-of-Breed Provider in RiskTech Quadrant® for Enterprise Stress Testing Systems

LONDON & NEW YORK--()--ClusterSeven, a leading provider of end-user computing (EUC) management and model risk management solutions, today announced that it has been ranked as a best-of-breed vendor in the Chartis Enterprise Stress Testing Systems RiskTech Quadrant® for 2015. According to Chartis, vendors such as ClusterSeven have best-in-class point solution capabilities together with organizational characteristics to capture significant market share in their chosen target markets.

“Our solutions help organizations comply with these requirements by providing a comprehensive inventory of models used for reports as well as a set of controls to ensure the accuracy of any calculations.”

In the report ClusterSeven’s Enterprise Spreadsheet Manager (ESM), Access Database Manager (ADM), and Inventory Management System (IMS) products were evaluated on two dimensions - market potential and completeness of offering. The 2015 report states that the focus of the ClusterSeven solution is “upon the challenge of capturing expert judgment in the delivery of stress-testing calculations that have been made as part of the data assumptions, data manipulation or data reporting.”

“When it comes to stress testing financial institutions are addicted to Excel spreadsheets”, stated Peyman Mestchian, Managing Partner at Chartis. “We are advising financial institutions to utilize spreadsheet governance solutions that are available from vendors such as ClusterSeven that provide diagnostic and dependency mapping capabilities, as well as built-in audit functionality.”

“There are a number of reporting requirements, including the Dodd-Frank Act Stress Testing (DFAST) Reporting Instructions, that organizations need to adhere to,” said Ralph Baxter, CEO and founder of ClusterSeven. “Our solutions help organizations comply with these requirements by providing a comprehensive inventory of models used for reports as well as a set of controls to ensure the accuracy of any calculations.”

Earlier this year ClusterSeven was recognized as a Best-of-Breed provider in the RiskTech Quadrant® for Operational Risk Management Systems for Financial Services report and as a Best-of Breed Provider in the RiskTech Quadrant® for Enterprise GRC Solutions. In December of 2014, ClusterSeven was ranked number 81 in the Chartis RiskTech100® report.

About Chartis

Chartis is the leading provider of research and analysis on the global market for risk technology. Its goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. Chartis helps clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.

RiskTech Quadrant® and RiskTech100® are registered trademarks of Chartis Research limited.

For more information see www.chartis-research.com.

About ClusterSeven

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 give functions such as finance, risk 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, private equity firm Azini Capital Partners LLP acquired 100% of ClusterSeven and will be providing additional investment to promote high quality product development and wider customer engagement.

For more information about the company, visit www.clusterseven.com. For a demonstration please visit Get Started.

Contacts

Citigate Dewe Rogerson
Hugh Fasken
020-7638-9571

Release Summary

ClusterSeven has been ranked as a best-of-breed vendor in the Chartis Enterprise Stress Testing Systems RiskTech Quadrant® for 2015

ClusterSeven