January 12, 2015 - Chartis recently positioned ClusterSeven as a vendor in its Enterprise GRC Solutions RiskTech Quadrant® for 2014.

The in-depth report from Chartis features a RiskTech Quadrant® that ranks twenty-two leading governance, risk, and compliance vendors on two dimensions - completeness of offering and market potential. 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.

ClusterSeven provides enterprise-wide, strategic spreadsheet and financial model management software. ClusterSeven's software non-intrusively monitors and tracks user activity in spreadsheets to deliver governance, risk and regulatory compliance obligations, provide insight into the unstructured data that they contain, and eliminate manual checks.

"Traditional GRC vendors often emphasize the replacement of spreadsheets that are being used for controls, but this fails to recognize that many spreadsheets are critical parts of financial processes such as data preparation and calculations," stated Peyman Mestchian, Managing Partner at Chartis. "The ClusterSeven solution fills a critical need in the market by providing an advanced set of capabilities to automatically manage business spreadsheets and the data they contain."

"Regulators and auditors are now demanding electronic evidence of spreadsheet control and compliance," said Ralph Baxter, CEO and Founder of ClusterSeven. "Our solution analyses all the critical changes between versions of spreadsheets in order to maintain the integrity of security, formulas, code and data."