Mobius to Showcase ABS for Spreadsheet Compliance Solution at the European Spreadsheet Risks Interest Group 2006
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Industry Leader is Main Sponsor of July 6-7 Conference, a Professional Forum Focused on How Effective Spreadsheet Management Can Improve Corporate Performance, Compliance and Governance
LONDON, June 28 // -- Mobius Management Systems, Inc. (NASDAQ:MOBI), a leading provider of integrated solutions for content and records management, today announced that it will be the main sponsor of the European Spreadsheet Risks Interest Group (EuSpRIG) annual conference, where it will showcase the Mobius solution for managing and controlling the lifecycle of business-critical spreadsheets.
ABS for Spreadsheet Compliance mitigates risk and eases the burden of regulatory compliance by centralizing the management of all enterprise spreadsheets. Spreadsheet management is a new capability of Mobius's Audit and Balancing System (ABS), which ensures the integrity and consistency of enterprise information by automating labor-intensive balancing and reconciliation processes that are subject to error when performed manually. Automating spreadsheet management ensures the accuracy and integrity of data used in the financial reporting process, while dramatically reducing the costs of doing so.
The ubiquitous use of spreadsheets in financial reporting processes exposes companies to significant risk. According to industry analyst firm, Gartner, "Enterprises must recognize that the thousands of uncontrolled spreadsheets their employees use every day represent a significant risk. Poorly managed spreadsheets may -- through negligence, incompetence or deliberate criminal conduct -- result in significant business losses, exposure to legal liability, damage to reputation and unwelcome regulatory attention."(i)
Despite the risks, virtually every organisation recognises that spreadsheets will continue to be the primary instrument for developing financial reports and for many other accounting, analytical modeling, operations management and transactional applications with varying degrees of complexity. ABS for Spreadsheet Compliance provides a single automated system for data import, secure access, version control, auditing, collaborative review/approval and retention management. It reduces the costs of eliminating errors and restores confidence in financial reporting by ensuring that spreadsheets are properly controlled, accessed and manipulated.
Philip Howard, director of research at Bloor Research, states, "...a number of vendors have come up with a variety of solutions, not least Microsoft, which has substantially improved the security and auditability of Excel in Office 12, though it still lacks facilities like cell-level locking. However, the best solution I have seen to-date comes from Mobius."(ii)
"Errors can be either accidental or malicious," adds Garth Landers, director of compliance solutions at Mobius, "but with the right controls in place, a business can create an audit trail that dramatically reduces risks and prevents disastrous consequences. ABS for Spreadsheet Compliance is a vital component of any organization's strategy to develop systematic controls that improve the integrity of critical corporate data."
The European Spreadsheet Risks Interest Group (EuSpRIG) was established in response to these problems and is holding its 2006 conference, "Managing Spreadsheets: Improving corporate performance, compliance and governance," on the 6th and 7th July at Fitzwilliam College, University of Cambridge, Cambridge, UK. The keynote speakers are Dean Buckner of the Financial Services Authority, who will discuss the use of spreadsheets in the financial markets, and Professor Tom Grossman of the University of San Francisco, who will address the delegates after the conference dinner. Garth Landers of Mobius is also on the program.
Further information about EuSpRIG, including a conference program and booking information, is available at www.eusprig.org/ .
About Mobius
Mobius Management Systems, Inc. ( www.mobius.com/ ) is the leading provider of integrated solutions for content and records management. The company's comprehensive software suite integrates content across disparate repositories, supports regulatory compliance, and includes content-enabled applications that automate business processes. Mobius solutions have achieved industry-wide recognition for breadth of functionality, breadth of supported formats, and high-volume, high-demand performance. The Mobius customer base is made up of leading companies across all industries, including more than sixty percent of the Fortune 100. The company, founded in 1981, is headquartered in Rye, New York, with sales offices in the U.S., Canada, the United Kingdom, France, Germany, Italy, Sweden, the Netherlands, Switzerland, Australia and Japan, as well as a network of agents in Central and South America, Europe, Middle East, Africa and Asia.
(i) Gartner, "Recognize the Risks of Uncontrolled Spreadsheets," Jay
Heiser, G00131681, 8th November 2005
(ii) Bloor Research, "An Answer to Spreadsheet Hell," Philip Howard, 14th
February 2006
Source: Mobius Management Systems, Inc.
CONTACT:
Tulin Pledger of Mobius Management Systems, Inc.,
+44 (0) 1784 484 710,
tpledger@mobius.com ,
or Media Relations,
Laura Lynne of Ruder-Finn,
+44 (0) 207 462 8900,
llynne@ruderfinn.co.uk
Web site: www.mobius.com/
http://www.eusprig.org/
