Business Control Solutions, a leading provider of financial governance, risk and control software to the banking and financial services markets, today announced that its balance sheet control product, BCS Integrity(TM), has been successfully rolled out to 1,200 users across a leading Swiss financial services group which has now completed its second month-end close using the tool.
Following a smooth and successful implementation taking just under four months, BCS Integrity is now capturing more than 750,000 account sign-offs each month across multiple geographic locations. The BCS Integrity platform replaces an existing in-house system and allows the bank to systemise the entire balance sheet substantiation process across all areas of its business. The software will enable the bank to take even greater control of its balance sheet through delivering clear account ownership, process standardisation and attestation sign-off across five different businesses within the group.
Adrian Somerville, Managing Director of Business Control Solutions, said: "Yet again we have delivered a group-wide financial close solution in less than four months and this is testament to both the comprehensive and highly flexible features of our software and the quality of our professional services staff. We're very pleased to be able to add another satisfied customer to the list of world-leading financial services companies using Integrity to manage their month-end financial close process."
BCS Integrity provides a consistent financial governance risk and control (GRC) framework over the entire ownership and attestation process. It facilitates simple front-end integration for multiple GL data sources and formats. By centralising the balance sheet control process from all areas of the business, BCS Integrity delivers a centralised, consistent process and reporting structure. The account ownership functionality ensures that a named owner is allocated to every step in the configurable sign-off process. It incorporates a controlled workflow for users, managers and account owners to highlight concerns and make decisions based on timely information.