HCL, Microsoft to develop IT solutions based on Excel

New Delhi, Mar 1 (UNI) HCL Technologies Ltd and Microsoft will jointly develop and conduct trials of a new range of solutions based on Excel Services.

The tools are designed to alleviate the regulatory burden on financial institutions by ensuring greater control and clarity on data, informing risk reporting, derivativesprocessing, performance measurement and collateral management.

The two companies did a nine-month combined research project, for which trials have already been completed with three of the world's most well-respected banks.

''We at HCL see a huge take-up of Excel Services solutions in Capital Markets for rapid application development around Excel and our partnership with Microsoft is an example of the significant investments we're making in developing deployment capabilities to prepare for this take up,'' said Mr Rajeev Sawhney, Corporate Vice President and Head of HCL Europe.

Excel Services, delivered through Microsoft Office SharePoint Server 2007 -- which was launched in November last -- was one of the most important releases of Excel.

It has been developed in conjunction with financial services companies to help them simplify and better manage their regulatory requirements by connecting and managing manual reporting processes and the uncontrolled circulation of spreadsheets.

With these services, financial services companies will be able to manage business-critical spreadsheets by holding them on servers rather than having different versions in the organisation.

UNI