ClusterSeven named Best-of-Breed Provider in Chartis Operational Risk Management Systems RiskTech Quadrant® for 2015
- Risk Management
- 04.06.2015 01:00 am
ClusterSeven, a leading provider of end-user computing (EUC) management solutions, today announced that it has been ranked as a best-of-breed vendor in the Chartis Operational Risk Management Systems for Financial Services RiskTech Quadrant® for 2015. According to Chartis, “best-of-breed vendors have best-in-class point solution capabilities together with organizational characteristics to capture significant market share in the chosen target markets.” ClusterSeven is ranked higher in the 2015 quadrant when compared to the 2014 quadrant due to an increase in its customer base and the release of a new solution that provides oversight and control to financial models.
ClusterSeven’s Enterprise Spreadsheet Manager (ESM), Access Database Manager (ADM), and Inventory Management System (ISM) products were recognized for market potential and completeness of offering. In the 2015 report that contains the RiskTech quadrant, Chartis states: “ClusterSeven helps customers manage enterprise GRC for this risk class, while providing additional functionality for user productivity and data insight.”
Chartis provides research and analysis on the global market for risk technology. To compile the rankings Chartis utilizes a transparent and comprehensive scoring system based on a number of sources including vendor evaluation forms, end-user surveys, interviews with subject matter experts, customer reference checks, and vendor briefing sessions.
“High profile operational risk failures resulting from spreadsheet errors have led to increasing regulatory focus and fines in this area,” stated Peyman Mestchian, Managing Partner at Chartis. “ClusterSeven provides a set of solutions that enable financial institutions to reduce and control spreadsheet risk.”
“As the market continues to evolve we are investing in bringing to market innovative solutions that are easy to use and implement,” said Ralph Baxter, CEO and founder of ClusterSeven. “All of our solutions are designed to compliment and coexist with enterprise level GRC and Operational Risk management solutions.”