SAN RAMON, California, December 1 /PRNewswire/ --

Prodiance Corporation, a leading provider of Governance, Risk and
Compliance solutions, today announced a new VAT discovery template for
Prodiance eDiscovery (http://www.prodiance.com/products/spreadsheet.asp),
providing an automated solution to help UK firms quickly locate and adjust
value added tax (VAT) rates that are hard coded in complex, tax related
spreadsheets.

For some UK firms, adjusting to last week's reduction in the VAT rate
from 17.5% to 15% may be as simple as updating a database setting or updating
a few eCommerce settings on a web site. However, for many this adjustment
will require locating all VAT related spreadsheets, and accurately adjusting
values that are hard coded in input cells, formulas, macros, and queries.
While capabilities to search for VAT rates are available in Microsoft Office
Excel on a per spreadsheet basis, making adjustments across hundreds and even
thousands of tax related spreadsheets may prove an overwhelming and error
prone task for many firms.

"With Prodiance eDiscovery
(http://www.prodiance.com/products/spreadsheet.asp), UK firms can quickly 
scan any and all network drives and content repositories to identify VAT 
related spreadsheets using an advanced pattern matching algorithm, and 
highlight any files with VAT values that require updating," said Dr. Soheil 
Saadat, president and CEO of Prodiance Corporation. "Using Prodiance 
eDiscovery and the new VAT discovery template, UK firms can leverage market 
leading technology to make the adjustments faster and with greater accuracy."

Once identified, VAT related spreadsheets can be categorized according to
their complexity and financial significance and assigned a high, medium or
low risk rating. Any high risk spreadsheets can then be brought under control
of Prodiance Enterprise Spreadsheet Manager 
(http://www.prodiance.com/products/spreadsheet.asp), which enforces
versioning, access control, change control and provides configurable
dashboards and reports to monitor the status of controlled spreadsheets.
Prior to being used in production, updated VAT spreadsheets can be reviewed
as part of an automated certification process which enforces checks and
balances to ensure that proper spreadsheet documentation, testing and
optimization requirements are satisfied.

For More Information & Trial Software

Prodiance is offering UK firms a free trial version of Prodiance
eDiscovery with the new VAT discovery template, which can be requested via
the http://www.prodiance.com web site. The download includes simple
instructions on how to use the software and new VAT discovery template.

About Prodiance

Prodiance delivers Governance, Risk and Compliance (GRC) solutions to
help increase visibility, 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 18 years experience in delivering innovative technology
solutions for highly regulated markets. Leading global organizations across
the banking, insurance, capital markets, energy, telecommunications,
manufacturing, media and entertainment, food and beverage, health care, and
educational markets have trusted Prodiance as a strategic partner to achieve
their goals. Prodiance Corporation is an independent, privately held company
based in San Ramon, California. Additional news and information about
Prodiance solutions, products and services is available at
http://www.prodiance.com or by calling +1-866-569-5678.