LONDON, January 27, 2011 -- Business Control Solutions, a leading provider of financial governance, risk and control software to the banking and financial services markets, today announced that following a highly competitive evaluation and tender process a leading UK-based financial services group has selected BCS
Integrity(TM) to standardise and centralise group-wide balance sheet control.
The BCS Integrity web-based platform will systemise the bank's account ownership and attestation process and deliver greater control, transparency and assurance over the balance sheet.
BCS Integrity was chosen for its proven scalability, workflow, organisational hierarchy support, KRI/KPI monitoring and powerful dashboard based senior management reporting. Another key selling point is its ability to deliver a highly flexible solution to support thousands of users reviewing and certifying millions of account combinations per month across both general ledgers and the supporting sub-ledgers.
Adrian Somerville, Managing Director of Business Control Solutions, said:
"BCS is delighted to welcome this UK-based banking group to our client portfolio. Our selection underlines the proven success we've had in supporting the balance sheet and financial close control requirements of other major financial institutions.
By implementing BCS Integrity, the banking group will achieve complete transparency and control over their balance sheet with real time visibility into the status of their account attestation process. Systemising the financial close process enables issues to be identified quickly which gives the group the ability to address operational risk more effectively. This is an exciting opportunity for Business Control Solutions to deliver our market leading product to another major financial services group."
The implementation and group-wide roll-out of BCS Integrity is expected to be completed by mid 2011.
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.
About Business Control Solutions
Business Control Solutions is a provider of management consultancy services and financial control software to the financial services sector. Our people operate at senior levels in global organisations and their experience and domain expertise helps clients to achieve fast-track solutions to complex problems. Our commitment to successful delivery has resulted in long-term, trusted relationships with our clients.
The BCS management consulting division delivers comprehensive business transformation programs within the Finance, Risk, IT and Operations functions of some of the world's leading banking and financial sector organisations.
Our innovative technology solutions are designed by industry practitioners to embed control within Finance and Operations functions, giving senior management real time transparency on issues and risks.
Business Control Solutions is based in London, with a development centre in Peterborough. For more information on Business Control Solutions please visit www.bcsplc.com
Source: Business Control Solutions Plc
Ted Sparrey,Head of Sales,Business Control Solutions plc,Ted.Sparrey@bcsplc.com,T: +44(0)20-7648-2077,F: +44(0)20-7648-2051M: +44(0)7787-431026