Cortell’s range of Financial Performance Management solutions gives you an integrated view of your financial processes and systems. Our IBM software solutions provide the base for additions like Certent CDM, which integrates seamlessly into your primary solution for additional benefit.
With the Advent of XBRL Financial Reporting Requirements in South Africa, a disclosure management solution is becoming a critical part of your software portfolio.
Mike Willis from PWC discusses the XBRL applications in his white paper:
“Disclosure management applications provide discrete and reusable mapping from each information disclosure contained within a report to relevant XBRL structures that enable automated production of reports in the XBRL format.”
Disclosure management software gives you a secure, enterprise-scalable, reporting and process automation solution, which allows you to collect data and create a focused narrative analysis, in a controlled and auditable environment.
If you are already using our IBM Planning Analytics, Cognos Controller, and Cognos Analytics FPM or OPM solutions, or you’re planning to update and improve your FPM solutions, adding disclosure management software to the mix provides one extra layer of information control and analytics.
Certent CDM solutions include their acquisition of IBM Cognos Disclosure Management (CDM), IBM Cognos Disclosure Management on Cloud (CDM on Cloud), IBM Cognos Financial Statement Reporting (FSR), and IBM Clarity 7.
What Disclosure Management Software Does for Your Business
- Improves Speed and Accuracy
Significant time is expended collecting, consolidating, and analysing data for reports. Your financial close can be made faster and more accurate with a flexible disclosure management solution and collaboration across teams, sites, systems, and sources.
- Lifetime management of financial and regulatory statements
Managing the production, filing, and publication of your statements is now centralized and automated, and can be done in real-time, without the manual update/editing processes. Your data lineage is also preserved in the dynamic reporting functionality.
- Automation of workflows
This automation allows to assign responsibilities, share information securely, and reduce risk in your disclosure process. This also permits users to work on ONE VERSION – eliminating the versioning issues between users or sites.
- Promotes and nurtures collaboration
With the sharing functionality comes the added benefit of autonomy and accountability per user, with a clear line of responsibility and reporting. This promotes collaboration in the correct areas of your business, with the correct teams or locations.
- Allows a wide range of reporting formats
As mentioned previously, the XBRL requirement for South African businesses motivates the implementation of a good disclosure management solution, but also gives you reporting flexibility with regard to formats.
- Simplifies compliance with country-specific accounting standards
With the integrated and adaptable CDM solution, you are able to map and track the standards to which your reporting is held, allowing for a consistent and regulated approach to your review and validation processes in the monthly, quarterly, or annual reporting cycle.
Adding Certent CDM to your organisation’s arsenal of FPM tools will boost efficiency, accuracy, and flexibility in the finance office, and tie in well to the systems and processes that govern your financial planning, analysis, and forecasting processes.
Contact Cortell to discuss the addition of a Certent CDM implementation to your business.