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Microsoft Acquires Prodiance, Strengthens Risk Management Portfolio

Windows maker Microsoft has moved to acquire business software solutions provider Prodiance in a bid to give a boost to its Excel Microsoft Office tool.

Prodiance offers enterprise risk management (ERM) software to businesses. Microsoft plans to integrate the company’s database and risk management tools with its own future Microsoft Office and SharePoint offerings.

“Prodiance has enabled over 100 Fortune 2000 companies to address some of their most complex challenges - mitigating the risk of material errors, while preventing fraud and non-compliance” Albert Chew, Senior Product Manager for Office wrote in a blog post.

“The company's customers include the world's top computer manufacturer, several leading global insurance providers, and 4 of the top 5 largest financial services firms in the world,” he added further.

Microsoft says that the acquisition will allow it to equip future versions of Office and SharePoint with increased security for critical business information in spreadsheets, document monitoring, policy enforcement, audit trails and automated risk assessment.

Prodiance plans to honour all existing contracts with existing customers and continue offering support. New customers will have to opt for Microsoft’s support program in the future.