Cognos FSR – “The Last Mile” in Financial Reporting
Cognos FSR (Financial Statement Reporting) provides a comprehensive solution to any organizations external reporting requirements by automating the creation of the annual financial reports.
Business Rules
- “The Last Mile” is dominated by a manual process leading to potential human error
- Crushed deadlines, stressful conditions, number of parties involved – increase potential for error
- Full financial review is time-consuming and inefficient
- Data accuracy issues arise after manual re-keying, scaling, rounding, etc
- Many iterations before final sign-off – eg. Distinct Word and Exel files shared via email – lack of internal control (version control)
- Complexity, breadth, frequency, many data sources
- Lack of workflow control over section changes, submission and approval
- Lack of audit trail / evidence of compliance
- No access control – high degree of risk (insider leaks)
- Need to do it all again next period (from scratch!)
Cognos FSR solution addressing “The Last Mile”
- Reports automated (dynamically driven) – central Database – pulling data from multiple data sources, structured and unstructured, financial and non-financial data
- Single version of the truth – data accuracy
- Workflow and version control for report approval and review
- Controlled / secure user access with full audit trail (who changed what, when?)
- Central library for compliance checklists
- Ease of use: Word narrative input / formatting capabilities automatically linked with Excel calculation / charting features in a single application: little training required
- Fully-integrated XBRL tagging against IFRS/UK-GAAP/HMRC taxonomies: no need to suffer an external / bolt-on process each year
- Multiple output options: XBRL, MS Word, Powerpoint, Adobe PDF, Adobe InDesign
- Automated process delivers printed report & electronic document: reports & tags rolled over to the next period using integrated XBRL ‘Tag-OnceTM’ technology
| Cognos FSR XBRL Solution Cognos FSR users can easily tag financial data and commentary once and have it automatically flow to future reports. Users can extend the company-specific taxonomy using the Taxonomy Designer. The XBRL Viewer lets users view the final XBRL report. All of this is delivered with the full audit trail and workflow functionality included in Cognos FSR.Click here for a customer demo Click here for an animated demoClick on the following links for Analyst Reports For more information please click here |
| This is a product that supports your business intelligence needs. |