EUC & Grey IT Transformation
Streamline EUC risk management with Schematiq's Excel transformation tools for better performance and control. Secure your spreadsheets now!
EUC & Grey IT Transformation Solutions
Schematiq provides businesses with a powerful, intuitive platform for rapid Microsoft Excel end-user computing (EUC) spreadsheet transformation and EUC risk management.
Schematiq Workbench provides a toolkit to remediate Excel-based EUCs to improve performance and availability.
Schematiq Workbook Manager can transform proven logic to code-based APIs, enabling Excel to connect to strategic systems or no-code applications. This enables scaling to large communities of users in a controlled way.
The platform includes an operational framework for access and version control, source control, auditability, testing, and approvals.
Microsoft Excel spreadsheets are widely used for mission-critical business processes, but they can also be a source of operational risk, financial loss, and sometimes regulatory fines. Spreadsheet EUCs are vulnerable to human errors, data integrity issues, and access/version control problems.
Schematiq's platform helps mitigate these risks by providing a secure and auditable environment that enables:
Data to be relocated from Excel to controlled databases.
Comprehensive audit trails.
Granular access controls allow users to control who can access and modify model logic or data.
Business users and model owners/Excel developers can deal effectively with end-user computing risk management and mitigate EUC risks associated with human error, data management, performance, and availability.
How Schematiq’s empowered Excel solution helps businesses to navigate EUC risk management
Improves Availability and Performance
Schematiq enables Excel-based EUC applications to perform calculations faster by removing the constraints of running Excel on the desktop, allowing it to run on cloud infrastructure instead.
The platform provides powerful remediation tools that reduce the size and complexity of Excel workbooks and, in turn, their availability and performance by:
Simplifying complex, repeated formulas.
Reducing the number of cells and sheets.
Substituting VBA with Schematiq functions.
Allowing Excel to access data at source, removing it from inside sheets to version-controlled databases and platforms.
Accuracy, Reduced Operational Risk
Powerful features to mitigate against errors such as:
Simplify complex repeated formulas and substitute VBA.
Instant access to live data at sources, e.g. databases and data platforms.
Rapidly convert logic into APIs
Integrate Excel with strategic systems, create custom workflows, automate processes, and scale in a controlled way to high numbers of users. This is all possible while ensuring that the business logic and underlying data are accurate, removing the risk of error-prone manual processes.
Easier to Audit with Improved Version Control
Schematiq enables users to store, manage, and track changes made to workbooks. It provides an audit trail to provide a detailed record of all changes made to a critical spreadsheet. This ensures that any changes are accurately tracked and can be reverted if necessary.
We provide users with secure access to workbooks via version control to store and track versions of the same workbook. This ensures that the right users always have access to the most up-to-date workbook versions, data, and logic and that all changes are tracked and recorded.
How Schematiq helped an Energy Trading client to overcome their EUC and Grey IT challenges
Schematiq enabled an Energy Trading client to reduce the operational risk of running significant trading, risk, and finance processes on a small number of Microsoft Excel-based EUC applications.
The client’s trading desks were limited in the amount of historical data they could use. Excel sheets had reached their capacity, and the processes around them were extremely manual and slow, often resulting in them running on out-of-date data.
This was impacting the firm in multiple ways, from missed trading opportunities to not having the correct safeguards and impacting their ability to perform robust stress testing.
The results achieved by utilising Schematiq’s solutions
Collectively, Schematiq and our Energy Trading client achieved the following outcomes:
Improved governance and control frameworks - satisfying auditors and reducing operational risk.
Removed data limitations within Excel, allowing for more accurate trade pricing.
Workbooks simplified, removing 1000s of lines of VBA and an 80% reduction in worksheets.
Increased data analysis - Trading analysis of 2M+ rows of data was now possible.