ClusterSeven Solves Known Weak Spreadsheet Protection Issue

New York and London – 26 September 2007

ClusterSeven, the providers of strategic spreadsheet management, today announced a product enhancement that protects valuable financial information from attack or unintentional change. ClusterSeven address weaknesses in Excel native design, securing the padlocks on all the core information within the spreadsheets and setting off alerts upon tampering on protected spreadsheets.

The new functionality is available in v4.0, the latest version of ClusterSeven’s enterprise spreadsheet management software, which is currently shipping and running in production mode with existing customers.

“We manage spreadsheets that range from the world’s largest and most sophisticated to the smallest and most simple. Protecting business-critical content avoids errors that may cost millions in reputation or profits,” says Steve Semenzato, CEO, ClusterSeven. “We have found a way to enhance the protection capabilities of Excel without having to install any extra software in the spreadsheet or on the desktop.”

“The challenge of ensuring security in spreadsheets has been a problem for the business and IT community for many years. Only a business that has spent the time understanding the variety of what finance departments do could get it right,” says Ralph Baxter, senior VP of product management. “Our customers like our non-invasive approach to managing spreadsheets but they also require protection against untoward changes in the first place.”

Regulators such as Sarbanes Oxley (SOX) and the Financial Services Authority (FSA) command that firms demonstrate clear segregation of duties in all financial processes between users who create information and users who benefit from it. Some spreadsheet-based business processes require the freedom of complete flexibility and can support the cost of additional activity to ensure that changes are not detrimental to the business. Others are best managed by being locked down – in all or part – a much cheaper way of ensuring integrity. Unfortunately Excel, powerful as it may be, cannot lock cell level information as securely as a firm requires and this is what ClusterSeven has solved. Spreadsheet control is now no longer a choice of “one size to fit all”. ClusterSeven offers the right balance of control and innovation, whatever the business process.

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