Govern and assess an unlimited number of models, without additional fees.
Workscope manages the governance and oversight process according to your internal policy, making it easier than ever for end-users and managers to maintain and demonstrate compliance.
Spreadsheet models drive insights and support decision making. As spreadsheet models evolve, they become increasingly complex which makes it more difficult to manage, audit and ensure integrity on the output of each model. Internal governance managers, external auditors and regulators are increasingly challenging the organisation to demonstrate governance and controls are in place.
Workscope provides a simple and effective way to manage a model risk management framework without requiring models to be moved the files into a foreign file store. Furthermore, Workscope ensures that managers and end-users have transparency over the integrity of every spreadsheet model and have the tools required for addressing risks and demonstrating governance.
Identify and monitor EUC’s which rise to the level of a “model” requiring additional governance and risk management controls. Workscope provides a rules-based framework for identifying and automatically registering models which fall within the requirements of the model risk governance policy.
End-users can register, classify and manage spreadsheet models with a simple one-click operation. There is no need to move files into specific locations or log into additional platforms in order to complete the attestation process. All of the end-user interactions are embedded directly in the spreadsheet environment where the end-users are already working.
Tag and classify spreadsheet models into buckets that align with your organisation’s governance policy. Classifications can align with particular regulations, processes or controls which supports a more efficient oversight and management process. Classification provides additional context on the usage of each model and ensures that the purpose of each spreadsheet model is understood.
Attestation questionnaires are automatically delivered to the relevant end-users on their desktop. Workscope manages the oversight process for critical spreadsheet models and ensures attestation is maintained on a regular, periodic basis which is determined by the organisation. The signoff status and results of each model is captured within Workscope’s reporting portal.
Workscope continuously assesses each spreadsheet model and checks for errors or problems with the integrity of each file. Manager and end-users get transparency on potential issues and can understand the wider potential impact. Targeted notifications ensure that action is taken as soon issues are surfaced and before they can cause any adverse impact on the business operations.
Spreadsheet models often become difficult to quality check and audit as they become increasingly complex. Workscope has developed a suite of tools that allow end-users to efficiently check and maintain the integrity of their individual spreadsheet models. These tools will enable end-users to efficiently run unit-tests and motivates model owners to ensure their spreadsheet model designs are aligned with industry best practice.
Connect with us to learn how Workscope can help manage and uncover value across your end-user developed applications and operational processes.
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