Prodiance and Wharf T&T eBusiness Launch Spreadsheet Risk Solution in China

Pleasanton, Calif. and Hong Kong – April 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 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. Wharf T&T eBusiness 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 Wharf T&T eBusiness Limited. "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 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 Wharf T&T eBusiness
Wharf T&T eBusiness Limited (WeB), an IT services subsidiary of Wharf T&T Limited, specialises in the provision of broadband enabling applications and web-based application services in the Asia region.

WeB believes that the adoption of e-marketing skills and technology is vital for enterprises to compete in this global economy. Its vision is to provide enterprises with low-cost and powerful e-marketing services and educate them using this highly effective tool and enabling technology. WeB-eM is a highly successful deployment of SaaS (Software as a Service) in Hong Kong. WeB promotes two e-marketing practice standards in the industry, namely, the minimum standard prescribed by the HKSAR Government and the best practice led by the industry. WeB is active in developing services to support these two standards.

To support the e-marketing practice standards prescribed by the HKSAR Government, WeB launched the Public Unsubscribe Facility (www.unsubscribe.com.hk) to help implement the unsubscribe requirements of the UEM Ordinance in September 2007. To promote the best e-marketing practice, WeB launched the first of its kind game based e-marketing learning platform in May 2007 and unveiled its flagship email marketing service - WeB-eM in August 2007. WeB-eM Email Marketing System has been awarded the Best Business (Product) Certificate of Merit of The Hong Kong ICT Awards 2007.

The mandate for WeB-123.com is to continue to provide new services and know-how that help foster the adoption of e-marketing by SMEs as well as strengthening Corporate deployment of e-mail marketing. For more information about WeB, please visit www.web-123.com.

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.

Printer Friendly

Email Page

Sponsor Message