[September 02, 2014]

Investec Bank Adopts ClusterSeven Spreadsheet Management

Investec Bank Plc ("Investec") has become the latest bank to award a contract to data management and spreadsheet control specialist ClusterSeven. Investec has selected ClusterSeven's Enterprise Spreadsheet Management® (ESM) software to provide control for its key business spreadsheets and the data they manipulate.

Investec is an international specialist bank and asset manager that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia as well as certain other countries. The group was established in 1974. Investec focuses on delivering distinctive profitable solutions for its clients in three core areas of activity namely, Asset Management, Wealth & Investment and Specialist Banking.

ClusterSeven's end-user computing 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.

Bernard Fromson, Head of Analyics, Corporate and Institutional Banking at Investec, said: "In addition to improving the operational control and governance of our business spreadsheet activity, we are particularly interested in using ClusterSeven's software to explore new business trends through greater analysis of our financial data."

Ralph Baxter, CEO of ClusterSeven, said: "We are delighted that Investec has selected us to enhance its business and data operations. 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."

About ClusterSeven

London-based ClusterSeven has developed a range of market-leading software products that provide oversight and transparency of a firm's spreadsheets and user-built databases. These technology assets are sometimes called the 'dark matter' of IT as they are often forgotten or ignored. 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.

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

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