Spreadsheets are the backbone of many processes in many financial firms. They are flexible and inexpensive.
They are also error prone, incompatible and not usable by more than a few people. Regulators have called out spreadsheets as a poor approach to managing
ModelDR can reverse engineer spreadsheets into Data Point Model form. From there the data, meaning and rules in the spreadsheets can be:
- Define using a common language with the rest of the bank (using FIBO and or in-house data dictionary)
- Integrated and linked to the source and usage within in-house systems
- Overlaid with data quality measures.