Health Check for your Portfolio of Excel Workbooks
Reduce the operational risk inherent in your business by identifying the spreadsheets which pose the greatest threat to your operations and either mitigate or migrate them.
As a financial services firm, your business relies heavily on Excel to manage critical processes and deliverables. But unchecked spreadsheets can expose you to significant operational risks:
As a financial services firm, your business relies heavily on Excel to manage critical processes and deliverables. But unchecked spreadsheets can expose you to significant operational risks:
Doing nothing is not an option. Unaddressed spreadsheet risks can erode trust, disrupt operations, and jeopardize your firm’s success.
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Our Proven 4-Step Remediation Process
remediation
[verb] the process of identifying all the spreadsheets in your business, classifying those which are business critical, understanding the complexity of your critical spreadsheets and then mitigating or migrating their inherent operational risks.
Spreadsheet remediation is the 4-step process of identifying all the spreadsheets in your business, classifying those which are business critical, understanding the complexity of your business critical spreadsheets by interrogating them and then mitigating or migrating their inherent operational risks.
Identify and document the name, location & characteristics of every spreadsheet in your business.
Classify the identified spreadsheets to a more manageable list of spreadsheets classified by business criticality and owner.
A deep interrogation of your most critical spreadsheets to understand their complexity & risk and plan their migration or mitigation.
Remediate your business-critical spreadsheets using an agreed checklist of industry-standard best practices.
Our Proven 4-Step Remediation Process
While there are other ways to address spreadsheet risks, our Excel Health Check offers a tailored, cost-effective solution for financial services firms.
Option 1: Do Nothing
Pros
No immediate cost or effort.
Cons
High risk of errors, regulatory non-compliance, and operational inefficiencies. Potential for significant financial and reputational damage.
Costs
Hidden costs from errors, delays, or fines can far exceed proactive investment.
Option 2: Internal IT Team Review
Pros
Leverages existing staff; may feel more in control.
Cons
IT generalists often lack specialized Excel expertise. Diverts resources from core IT tasks, leading to delays or incomplete remediation. Lack of proven methodology.
Costs
Opportunity cost of staff time, plus potential for incomplete or ineffective solutions.
Option 3: Full Migration to New Platform
Pros
Long-term strategic solution with advanced features.
Cons
High upfront costs, lengthy implementation, and disruption to existing processes. Requires extensive planning and documentation.
Costs
Typically £100,000+ for software, consulting, and training, with ongoing maintenance fees.
Option 4: Excel Health Check
Pros
Targeted, cost-effective, and fast. Reduces risks without disrupting operations. Prepares for future migrations with robust documentation.
Cons
May require follow-up for full migration to strategic platforms.
Costs
Affordable, tailored pricing based on your needs, delivering immediate value.