For the fourth year running Finsbury Solutions has been voted one of the top governance, risk and compliance vendors in the annual compliance software survey by readers of Operational Risk & Regulation, one of the industry’s most respected publications. This years’ survey saw the company maintain its place within the top twenty ranking of GRC vendors globally.
Conducted among leading financial institutions across North America, Europe and Asia, respondents were asked to rank their top five companies across eight compliance categories. This years’ survey highlighted that 55% of respondents are now committed to using GRC solutions within their own organisations, a significant increase on last year.
Jeremy Wood, Director of Finsbury Solutions, comments: “The challenges that the financial services sector continues to face with the need for tighter regulation and control means there is a growing demand for our spreadsheet control solutions. The results of the OpRisk & Regulation 2012 compliance software survey confirm the trends that we have seen in the market over the last 12 months with more firms adopting GRC solutions. This years’ rankings clearly illustrate that our solutions continue to be seen as some of the most sought after in the market”.
Finsbury’s market leading solutions allow organisations to address the issues of operational risk and compliance that are inherent in the use of business critical spreadsheet applications. Spreadsheets are commonly used in financial reporting applications which are subject to regulations requiring an effective system of internal control. Examples of such legislation include Solvency II, Sarbanes Oxley Act, and Basel III.
The Operational Risk & Regulation Software Survey 2012 rankings were compiled from a survey conducted over six weeks from March to April 2012. The survey was sent to readers of Operational Risk & Regulation from around the world and was also promoted through Risk.net. Respondents were asked to rank their top five companies across eight categories. The results were compiled by Incisive Research, a subsidiary of Incisive Media.