Is SharePoint a cost-effective solution for EUC and Model Inventory Management?
                     Is SharePoint a 
cost-effective 
solution for 
EUC and Model 
Inventory 
Management?
• Having an accurate and up to date inventory of models (whether they are 
spreadsheet-based or other) is the foundation of any model governance 
program. Now that you’ve chosen to manage these model risks, what’s the 
best way to track them?
• Semi-automated software solutions focused on EUC or Model Risk Management 
(which includes inventory) are commercially available from several companies. 
Traditionally these legacy systems required on-premises, server-based 
installation(s) and also some degree of consulting and IT support. Modern 
inventory systems are cloud-based services that require no IT resources and can 
be configured and utilized without expensive consulting services. CIMCON’s 
Model Inventory CloudTM is one such product.
• One alternative to commercial, off-the-shelf software is to build your own 
inventory system powered by Microsoft SharePointTM. Whether it’s the traditional 
on-premises version or SharePoint OnlineTM in the cloud, there are important 
considerations in this “make or buy” decision. Even though SharePoint is often 
perceived as “free”, there are several dimensions to the total cost of ownership 
that should be considered.
• One alternative to commercial, off-the-shelf software is to build your own inventory 
system powered by Microsoft SharePointTM. Whether it’s the traditional on-premises 
version or SharePoint OnlineTM in the cloud, there are important considerations in 
this “make or buy” decision. Even though SharePoint is often perceived as “free”, 
there are several dimensions to the total cost of ownership that should be 
considered.
Six considerations before you build a custom model inventory 
system in SharePoint
• Software License Fees: In large enterprises, the Nth SharePoint instance may, in 
fact, be free. In other organizations, there may be incremental license fees. You 
should determine the exact licensing situation in your company and understand 
whether you will be charged any type of fee, whether it’s from Microsoft or an 
internal company chargeback.
• Degree of off-the-shelf functionality: Some of the native, risk 
management capabilities of the SharePoint platform are a given i.e. they 
are an integral part of the product. Version and access controls are two 
simple examples. So if you build your own inventory system in SharePoint, 
you will have effective version/access controls. Other governance 
functionality will need to be configured and/or programmed. Remember, 
SharePoint is a content management platform that can theoretically do 
almost anything. It is not purpose-built for managing EUC or model 
inventory so some of your desired controls and tracking functionality will 
need to be developed. When considering advanced functionality like 
change approval workflow, SharePoint has good functionality but again, it 
will require an expert consultant to configure it. Those experts cost money.
• File Location: It is sometimes said that files are end-user controlled 
for a reason. For example, the line of business needs the 
speed/flexibility to manage their models directly. In a SharePoint-based 
inventory system, the files under control are stored within SharePoint. 
The users no longer control where their files are stored. Remote access 
and network latency could be an issue, but perhaps more daunting is 
the political challenge of getting the business to “let go” of their files. 
Modern Inventory-as-a-Service does not hold a copy of the file, it only 
stores the risk-related metadata. The actual model/file itself stays 
where it has always been stored and the user/owner will not perceive 
any change.
• Maintaining control of your own destiny: In addition to having to relocate 
numerous models (or critical spreadsheets), choosing to go with a custom solution 
built on SharePoint creates a deeper dependency on the IT group. This is a resource 
that is chronically understaffed and can’t always respond in a timely fashion. In 
addition, some fraction of a full-time administrator will now be required as the 
repository of models (and/or critical spreadsheets) will grow due to all of the 
• iDnocrmemaienn Etaxl pvertsiisoens:  Cthoamt mwiellr cbiea lslyt osruepdp. orted model inventory systems are 
purpose-built for these tasks and incorporate all of the best practices accumulated 
over 15+ years. Even if you personally don’t mind re-inventing the wheel, you 
should pause and ask; Does it make business sense to do so? Will you be up and 
running in less time with your own bespoke solution? Is this where senior 
management wants you to focus your energy? Will the IT staff supporting the 
project understand your work processes and how these controls impact them, or will 
you have to continually educate them on how you want to do your work? What is 
the total cost of several iterations of the design and build cycle until it’s right?
• Multiple cost considerations: Cost is always an important factor. When 
comparing the cost of building your own model inventory system using SharePoint, 
vs. utilizing a cloud-based inventory service, you must compare “apples to apples”. 
A hosted inventory service is one price, everything is included. If you choose to 
build yourself, you need to consider the following potential costs:
1.Any incremental software licensing fees
1.Any internal chargebacks for hardware (servers, storage, etc.)
1.Consulting and other development costs
1.On-going system maintenance costs, either your own time, internal IT 
chargebacks or external contractors
1.On-going development costs for future changes/modifications
Summary
• Whilst building your own inventory using SharePoint can appear to be a cost-
effective option, there are a number of factors which make commercially 
available model inventory solutions a better fit. Whether it is the speed and 
convenience of utilizing a cloud service, or the desire to have predictable 
support and maintenance costs, you should undertake a proper “make vs. 
buy” analysis as part of your due diligence. CIMCON offers a model inventory 
service Model Inventory CloudTM. Unlike an internal effort where the 
inventory project starts as an idea, with CIMCON, what you can see and 
physically test is what you will get. At a bare minimum, go to CIMCON’s 
website to access and utilize a limited, but free version to help better 
understand and define your requirements. Alternatively, you can subscribe 
and be effectively managing the risk of all of your models within an hour.
About Us
Established in 1988, CIMCON Software, LLC is a pioneer in end-
user computing and model risk management, serving over 800 
companies across industries. Recognized by Gartner, Insurance 
ERM, and others as a top risk management vendor, CIMCON 
brings 25+ years of experience and industry best practices to 
support AI & GenAI readiness and governance. With the largest 
global installed base, our feature-rich, extensively tested 
solutions offer unmatched depth, support, and reliability.
Contact Us
Boston (Corporate Office)
+1 (978) 692-9868
234 Littleton Road  Westford, MA 01886, 
USA
New York
+1 (978) 496 7230
394 Broadway New York, NY 10013
THANK 
YOU