CIMCON Software today reaffirmed its position as a Global Market Leader in Spreadsheet Governance, Risk Management and Controls (GRC) by announcing that 3 of the Top 5 banks and 3 of the Top 5 insurance companies in the United Kingdom have selected its solution to reduce their risks from spreadsheets and similar end user computing applications.
Collectively, the six UK institutions have total assets of over 6,200 billion pounds and a market capitalization of over 230 billion pounds.
The CIMCON solutions were selected after a rigorous and comprehensive due diligence process that included RFPs, pilots and customer reference checks. Reasons for selection included fit to customer requirements, ease of use, architecture, lack of end-user impact, completeness of solution, company history and stability, product maturity and rich roadmap.
“Spreadsheets are especially mission-critical in the banking and insurance industries which rely heavily on these end-user computing applications,” said Sanjay Agrawal, Director. “The fact that these top UK institutions chose the CIMCON solution for spreadsheet management and controls is a testament to CIMCON’s global leadership in the market segment that it pioneered. Companies across a wide range of industries, large and small, continue to choose the CIMCON products to meet their needs for a reliable, elegant, and easy to use life cycle solution that reduces spreadsheet risks and enhances controls, compliance and productivity.”