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Press Release
Prodiance and Wharf T&T eBusiness Launch
2010 Mar 19
Pleasanton, Calif. and Hong Kong – Apr 19, 2010 – Prodiance Corporation, a leading provider of Enterprise Risk Management (ERM) solutions, and Wharf T&T eBusiness Limited (WeB), an IT services subsidiary of Wharf T&T Limited and the leading IT services provider in Hong Kong, today announced an exclusive distribution partnership to provide a new Spreadsheet Risk Management & Control solution in China and Hong Kong. WeB will leverage Wharf COL’s experience in managing continuity, data security and compliance solutions in the financial sector and mobilize its regional distribution channel to better serve the Hong Kong and China financial market.
“The joint solution combines Prodiance’s best of breed technology with WeB’s professional services and domain expertise in information security and financial services to help firms in the region increase transparency and efficiently mitigate enterprise risk due to errors, fraud and non-compliance,” said Dr. Soheil Saadat, president and CEO of Prodiance Corporation. “We are very pleased to introduce WeB as a strategic partner and the first mover for Spreadsheet Risk & Control.”
“Uncontrolled spreadsheets, Access databases, and other types of end-user computing (EUC) applications are pervasive in today’s financial markets,” said William Kwan, Director and General Manager at WeB. “Left uncontrolled, these EUCs can open the door for financial reporting errors, operational risk, fraud, and non-compliance with regulatory mandates. Leveraging Prodiance’s global presence and its numerous successful deployments for top tier multinational corporations around the globe, WeB will provide the leading Spreadsheet Risk Management & Control solution for Chinese firms to mitigate these risks while delivering proven return-on-investment.”
“The addition of Prodiance partnership further strengthens Wharf COL’s compliance solution for the financial sector and large enterprises,” said Mr. Layton Lok, Director and General Manager of Wharf COL (Shanghai) Ltd.
As a result of deploying the Prodiance Enterprise Risk Manager (ERM) system, global organizations across a wide variety of industries have experienced reduced audit fees, fewer material spreadsheet errors, reductions in validation and testing efforts, and faster review and approval cycles.
Solution Overview
The Prodiance Enterprise Risk Manager (ERM) system incorporates an integrated suite of software modules to automate discovery, inventory management, risk assessment, audit and control, certification and reporting for mission critical spreadsheets, Access databases and other EUCs.
Key products and capabilities include the following:
Prodiance eDiscovery - automates ongoing discovery, inventory management and risk assessment.
Prodiance Audit & Control Manager – provides auditing and control through pervasive monitoring of changes, exception based reporting, cell level lock down and automated workflows.
Prodiance Spreadsheet & Database Compare – provide graphical comparison of changes to help increase productivity through faster review and approval of changes.
Prodiance Spreadsheet IQ – automates validation, error checking, documentation and remediation efforts.
More Information
For more information on the Prodiance ERM System, please download a copy of the Prodiance Corporate Brochure.
About Prodiance
Prodiance delivers Enterprise Risk Management (ERM) solutions to help improve integrity, transparency and control over end user computing applications such as spreadsheets, databases and BI reports which comprise a significant portion of mission critical data within organizations. Prodiance leverages over 20 years experience in delivering innovative technology solutions for highly regulated markets. Leading global organizations in more than 15 countries across 5 continents representing a wide variety of industries - banking, insurance, capital markets, energy, telecommunications, manufacturing, media and entertainment, food and beverage, health care, pharmaceutical and education - have chosen Prodiance as trusted partner to achieve their strategic goals. Prodiance Corporation is an independent, privately held company based in Pleasanton, California with offices in London, Chicago, Philadelphia, New York, The Netherlands, and Shanghai. Additional news and information about Prodiance solutions, products and services is available at www.prodiance.com or by calling +1.925.460.9191.
About COL
COL is an IT services subsidiary of Wharf T&T Limited, a core member of the Wharf Group. In January 2006, COL was integrated with Wharf T&T. COL is a leading IT services company in Hong Kong with over 38 years of experience. COL offers a full range of IT infrastructure and application services. Data centre and business continuity solution is COL’s flagship product serving both Hong Kong and Shanghai. The expansion to Shanghai with the establishment of Wharf COL (Shanghai) Limited was prompted by strong demands in China where the establishment of a Business Continuity Centre allows COL to extend coverage of business continuity service offerings in the Mainland. For more information about Wharf T&T and COL, please visit www.wharftt.com and www.col.com.hk.