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FINSBURY SOLUTIONS RECEIVES ‘PROMISING’ RATING IN LEADING ANALYST FIRM'S SPREADSHEET CONTROL MARKETSCOPE REPORT

Finsbury Solutions, a leading supplier of spreadsheet management and compliance software to the financial services sector, today announced that leading analyst firm, Gartner, Inc., has rated Finsbury Solutions as ‘Promising’ in its MarketScope for Spreadsheet Control Products Assessment, 2008[1], written by Jay Heiser and David Furlonger, published on 11 March, 2008.

Finsbury’s Spreadsheet Workbench is the market’s only enterprise spreadsheet control solution exclusively based on Microsoft SharePoint 2007. It provides a flexible, enterprise-wide spreadsheet management and compliance solution for the rapid control and development of business critical spreadsheet applications.

Jeremy Wood, director and co-founder, Finsbury Solutions, comments: "We feel this rating is a significant achievement for Finsbury Solutions, being the newest entry to the market. We believe Gartner's evaluation validates our growing presence as well as the significant role of spreadsheet control in any organization's operational risk management strategy.”

“Spreadsheets support a huge range of business operations from risk management to financial and regulatory reporting. We are committed to providing the highest levels of support for these core operations, delivering the most intuitive and scalable enterprise spreadsheet management and compliance solution available.”

Spreadsheet control products, so the report explains, can provide ‘better levels of documentation for auditors and regulators’ and can also ‘arguably reduce losses due to mistakes and even fraud’. In addition, research showed that ‘Overcoming their initial resistance, spreadsheet authors are finding that these products not only improve the quality of their work but also save time’.

Companies included in the MarketScope were evaluated based on six criteria, including market understanding, marketing strategy, offering (product) strategy, product/service, overall viability (business unit, financial, strategy, organization) and customer experience.

[1] “MarketScope for Spreadsheet Control Products, 2008”, 11 March 2008 by Jay Heiser and David Furlonger