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Virtually Informed

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					Introduction to EASA
                       Imagine
                        using software
                        built specifically
                        for your needs
Directors of companies, charities, departments of government and other organisations have
numerous statutory, fiduciary, reporting and compliance obligations. Penalties for failing to meet
them include fines, jail sentences, undesired share price movements and unplanned career
changes. The ability to meet these obligations is undermined if the information upon which
decisions are based turns out to be flawed. In most businesses, a majority of that information is
derived from spreadsheet models.
Research has repeatedly shown that an alarming proportion of corporate spreadsheet models are
not tested or controlled to the extent necessary to meet these obligations. Uncontrolled and
untested spreadsheet models pose significant business risks, including:

• Lost Revenue, Profits, Cash, Assets & Tax
• Mispricing and poor decision making due to prevalent but undetected errors
• Fraud due to malicious tampering
• Systemic financial failure, due to overdependence

Furthermore, an inability to show that spreadsheet-based business information has been subject to
procedures designed to ensure it is reliable, is in itself a failure of fiduciary and regulatory
compliance.
EASA , Harwell, Oxfordshire
Zurich Financial Services, Zurich
AMLIN, London
EASA Customers
                                                                Case Study: Amlin

 Improving the use of Excel
SITUATION
   RDS – Realistic Disaster Scenario

   Reporting process to Lloyd’s

   Submitted at regular intervals


PROBLEM
   Excessive time to manually aggregate
   multiple spreadsheets

   High risk of errors

   Time spent tracking down and correcting aggregation errors

   Intellectual property contained in Excel models not secure

   Version control issues
                             Case Study: Amlin

Improving the use of Excel       SOLUTION
                                 A custom web-based EASA
                                 application now allows multi-
                                 user access

                                 Management can produce
                                 monthly reports automatically

                                 Integrates databases for data
                                 storage and original
                                 spreadsheets for data
                                 processing

                                 Significant reduction of time
                                 spent entering data and
                                 correcting mistakes

                                 Significant reduction in
                                 operating risk

                                 Standards enforced, data
                                 quality improved, and data
                                 secured.
                                                                           Case Study: Ba

 Improving Reporting to Mobile Employees
SITUATION
   Credit group creates daily reports and present them via a web page or email them to various subscribers


PROBLEM
   Reports created with spreadsheets running macros

   MS Excel Server cannot provide web-access to
   spreadsheets with macros and add-ins

   Mobile solution also required as many subscribers
   need access via mobile device

   Deployment of “raw” spreadsheet to mobile device
   (as shown here) is fraught with problems:
        Security issue of critical data on mobile device
        Version control
        Usability of spreadsheet on mobile device
        with limited screen size and navigation capabilities
                           Case Study: Leading Bank

Improving Reporting to Mobile Employees

                                     SOLUTION
                                     Custom application created with
                                     EASA and deployed to BlackBerrys

                                     Custom application tailored for needs
                                     of mobile user
                                          Navigation via tabs
                                          Screen size

                                     Processes dramatically improved

                                     Applications pushed to specific
                                     individuals
Unique Technology
Did we change this spreadsheet?
Do we still need to have all of the
controls around the underlying
spreadsheet?
Is there a storage area for holding
the information that's calculated
when the User accesses the
spreadsheet?
How do we know its being built to a
set of standards?
Can we show complex
spreadsheets or even embedded
functionality?
Does it scale?
What about Excel and EASA
licensing?

				
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posted:9/12/2011
language:English
pages:19