Schroders has chosen ClusterSeven's Enterprise Spreadsheet Management (ESM) platform, the vendor has announced.
ESM allows firms greater transparency and management control over the use of the popular format, which is still pervasive in modern financial instutions. Schroders, headquartered in London, has some $464 billion in assets under management.
"Using ClusterSeven has given us a good understanding of the extent of spreadsheet activity within our business," says Nick Lloyd, head of investment technology at Schroders. "The software will help us to improve our operational controls and governance, including better data quality, lower manual costs, and better insight for our IT development plans."
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