Heritage Managing Agency Limited Reduces Operational Risk Through Effective Spreadsheet Control

27 November 2008

Finsbury Solutions, a leading supplier of spreadsheet management and compliance software to the financial services sector today announced that Heritage Managing Agency Limited, a leading insurance underwriting firm, has implemented Spreadsheet Workbench to improve operational control and compliance of its business critical spreadsheets.

Heritage like many financial organisations use spreadsheets to support core parts of its business. Spreadsheets provide the business with a high level of flexibility however they also bring a significant level of operational risk as they can be error prone and do not provide the level of security and audit control found in traditional enterprise systems. In addition as Heritage was acquired by Argo Group, a US based insurance firm, earlier this year, it needs to comply with Sarbanes-Oxley legislation which requires specific controls of the financial reporting processes.

Jeremy Wood, Director and Co-Founder of Finsbury Solutions comments: “We welcome Heritage as our latest client. Heritage is a recognised leader in the London Insurance Market and for Spreadsheet Workbench to be selected is a great endorsement of our products capabilities and appeal.”

Heritage was introduced to Finsbury Solutions via the Microsoft London Market Network, which is a Microsoft led group of software and service providers who offer pre-integrated industry focussed software solutions to the insurance market based on a common Microsoft technology platform.

Bruce McKee, Insurance Industry Manager at Microsoft commented: “We are delighted that the Microsoft London Market Network is delivering significant business value to our clients. As a co-founder of the London Market Network Finsbury Solutions play an important role in our industry solution. Spreadsheets are increasingly used to support business critical functions and Spreadsheet Workbench’s market leading capabilities combined with its use of SharePoint delivers the high levels of operational control insurance firms require.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development