Spreadsheet & end user computing (EUC) pose a unique risk to companies because they fall outside of traditional risk management controls. As a result, they go unnoticed while becoming entrenched in critical business processes.
The majority of all highly regulated companies who are tasked with either updating their existing end user computing (EUC) controls or are having to implement a credible and robust EUC governance policy for the first time typically have very little internal resource or expertise that they can leverage to get the job done.
End user computing applications (EUCAs) pose a unique risk to organizations because they fall outside of the realm of traditional application risk management controls. With the right set of EUC controls in place, you can mitigate this risk and ensure policy compliance for your most sensitive files.
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Apparity’s software finds major use in the financial services, insurance, and utility industries.
Financial institutions use spreadsheets everyday. As one of the most regulated industries, there needs to be a higher degree of care with these spreadsheets. Specifically, regulations such as Basel III, Solvency II, DFAST and CCAR must be followed in finance.
The insurance industry is heavily regulated. As a matter of fact, the Patient Protection and Affordable Care Act changed it a lot. Because of this shift, there is a growing need placed on healthcare finance teams. They must create internal controls that include spreadsheets and other EUCAs.
Utility companies use spreadsheets for many things. These include finance, energy trading, and keeping track of operational information. Due to regulations, they must make sure that all reporting is 100% accurate.