LONDON, May 28, 2012 /PRNewswire/ --
Business Control Solutions, the provider of the market leading Balance Sheet substantiation and attestation software, BCS Integrity, to the banking and financial services markets, today announced that one of the world's largest financial services groups has selected BCS Integrity™ to provide greater control over operational risk.
The BCS Integrity web-based platform will systemise the bank's account ownership and attestation process and deliver greater control, transparency and assurance over the bank's sub ledgers.
BCS Integrity was chosen for its proven scalability, customisable workflow flexible account ownership features and key operational risk controls such as KRI/KPI monitoring that drive senior management dashboards. These features, in conjunction with a wealth of additional financial reporting provided out of the box, work to provide greater regulatory compliance, risk management and transparency across the organisation.
Adrian Somerville, Managing Director of Business Control Solutions, said: "BCS is delighted to welcome this world leading financial services group to our growing list of financial services clients. Our selection underlines the proven success we've had in supporting the balance sheet and financial close control requirements of other major financial institutions.
"BCS Integrity will provide the financial services group with improved operational risk management by delivering standardised financial close processes, sub-ledger transparency and exception reporting allowing the early identification and investigation of any potential control issues. Being readily scalable, configurable and easy to deploy we look forward to BCS Integrity demonstrating its value and position as the market leading Balance Sheet attestation tool to another major financial services group."
The implementation and group-wide roll-out of BCS Integrity is expected to be completed in Q3 2012.
BCS Integrity provides a consistent, financial governance risk and control (GRC) framework over the entire ownership and attestation process. It facilitates simple front-end integration for multiple GL data sources and formats. By centralising the balance sheet control process from all areas of the business, BCS Integrity delivers a centralised, consistent process and reporting structure. The account ownership functionality ensures that a named owner is allocated to every step in the configurable sign-off process. It incorporates a controlled workflow for users, managers and account owners to highlight concerns and make decisions based on timely information.
SOURCE Business Control Solutions Plc