Invantive Control - control on Microsoft Excel for listed companies
The innovative product Invantive Control enables to continue to use Microsoft Excel as CFO but still be ‘in control’, according to the example ISO 27002. Given the innovative nature of Invantive Control Invantive haggles along to the Accenture Innovation Awards 2011:
Many listed companies that are subjected to laws and legislation (banks, but also SA’s) use Microsoft Excel in business critical processes. For example for risk models. However, this led to many problems because Microsoft Excel is not designed for this. By splitting data, formulas and templates and centrally recording this an employee can keep working with Excel and still be able to comply with laws and legislations. Primary target group: companies that are professionally engaged to keep a grip on risks, including banks (for example. PD [Probability of Default] inside Basel II), insurers (actuarial calculate) and real estate development (project- and market risks). Minimal annual revenue is 500M EUR. Competition: paper, control measures, no compliance with laws and legislation. Invantive Control was developed in collaboration with Ballast Nedam NV.
Visit the site of Accenture for further information.