Our customer, a global re-insurance company is on its journey to continuously comply with BaFin regulation VAIT (Versicherungsaufsichtliche Anforderungen an die IT). One of the projects is to address the topic of “individual data processing” (IDP) in an automated fashion to ensure complete governance of all solutions which are considered IDPs. As qedcon has extensive knowledge about assessing risks supported by evaluation metrics of excel files, access databases and other file formats managed outside Central IT, we – as a long-standing partner – have been asked to implement a specific tool, CIMCON’s End-User-Computing (EUC) Insight.
The decision of our customer to implement this tool aimed at enhancing operational efficiency and ensuring regulatory compliance. The company recognized the importance of managing their extensive array of spreadsheets and applications effectively, considering their significant role in business critical calculations and decision-making processes.
The implementation involved a meticulous assessment of the existing EUC landscape within the organization. This assessment included identifying all spreadsheets and applications used across various departments and geographies by calculating a risk score leveraging the capabilities of CIMCON’s EUC Insight. After aligning internal processes and procedures with the workflow implementation in EUC Insight to automate the tracking, auditing, and management of these EUC assets, the overall EUC methodology was implemented within the global organisation. Comprehensive training programs were conducted to familiarize employees across different locations with the new system, ensuring a seamless transition.
Challenges and dependencies
Implementing EUC Insight Tool at such a large scale came with the typical challenges of harmonizing a diverse global process landscape and implementing a global tool supporting those processes. One of the main challenges though was dealing with the sheer volume and diversity of spreadsheets and applications spread across different departments and regions. Ensuring data accuracy and consistency while migrating these assets onto the new platform required meticulous planning and execution. Additionally, aligning the implementation with various international regulations and compliance standards added complexity.
Despite the challenges, the successful implementation of CIMCON’s EUC Insight Tool transformed the way the reinsurance company managed its EUC assets. The tool provided a centralized platform for assessing risks, tracking changes, ensuring version control, and monitoring access. The scanning component of EUC Insight introduced an additional quality measure ensuring completeness and accuracy of all IDPs reported.
Furthermore, the implementation led to improved collaboration and data transparency across departments and global offices. Automated alerts and notifications helped in enforcing compliance policies, ensuring that all EUC applications met regulatory standards. The successful implementation not only ensured BaFin compliance but also lead to significant time and cost savings across the organization.
In summary, the implementation of CIMCON’s EUC Insight Tool at the global reinsurance company showcased the power of proactive management in the realm of End-User Computing. By addressing challenges head-on and leveraging the capabilities of the tool, the company successfully navigated the complexities associated with managing a vast and diverse array of EUC assets, ultimately ensuring data integrity, compliance, and operational efficiency across the organization.
qedcon has proven again as a reliable partner to deliver significant value in this important IT compliance project.