The Sarbanes Oxley Act (SOX) requires organizations to use improved internal controls to enhance traceability and liability in their financial reports. Small and large organizations alike use spreadsheets in their business processes for a variety of functions including auditing, financial reporting, supply chain and vendor management, project management, and risk analysis. Although spreadsheets have been proven to be highly useful and extremely cost-effective, the process of data storage in Excel can become very tedious, considering the volume of data that needs to be stored for each function. In addition, at a time when organizations are finding it difficult to steer through a complex web of regulations and compliance mandates, lack of proper governance and controls around spreadsheets can lead to errors which can be highly detrimental to organizations. 

Today’s convoluted business environment demands an integrated enterprise risk management strategy in place to mitigate and manage risks. While a traditional spreadsheet might be a useful tool to document various types of information, its lack of security and its inability to act as a dashboard to track the progress of business operations and compliance objectives make it less effective and valuable. Designing and incorporating spreadsheet governance tools can help create a central storage system to store and access spreadsheets with appropriate user controls. A fully integrated and automated spreadsheet control and management system can capture errors and lags, in addition to detecting fraudulent usage of spreadsheets. A well-defined spreadsheet management system can result in enhanced visibility and accountability across the organization.

  • Best approaches to integrate spreadsheet governance into the Enterprise Risk Management Framework
  • Tools and controls to enhance traceability in spreadsheets
  • Improving spreadsheet coordination internally to reduce risks

Join Andrew T. Duncan, Chief Executive Officer, Boardwalktech, Inc and Vibhav Agarwal, Sr. Manager - Product Marketing at MetricStream as they discuss the primary issues organizations face when using spreadsheets, and the best approaches to tackle them for risk mitigation. The session will also shed light on: 

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This webinar is scheduled to take place on June 25, 2014, at 11 am Eastern. To register for this webinar, and to learn more about the webinar and the speakers, please click here.

About MetricStream

MetricStream, the independent market leader in enterprise and cloud applications for Governance, Risk, Compliance (GRC) and Quality Management, makes GRC simple. MetricStream apps improve business performance by strengthening risk management, corporate governance, regulatory compliance, vendor governance, and quality management for hundreds of thousands of users in dozens of industries, including Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-Tech and Manufacturing. MetricStream is headquartered in Palo Alto, California, with an operations and R&D center in Bangalore, India, and sales and operations support in 12 other cities globally. (www.metricstream.com).

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