Efficient end-to-end processes supported by state-of-the-art technology are revolutionising internal and external reporting - are you already on board?
When you hear the word reporting, do massive folders full of spreadsheets, diagrams or mile-long text documents with countless footnotes spontaneously pop into your head? Or do you think of the numerous agonising rounds of iteration and voting in packed conference rooms? Is your reporting dominated by Word, Excel, PDF and PowerPoint files?
Today, modern data visualisation or business intelligence tools offer interactive options and customisable graphics that allow the addressee to define the content of their reporting.
In combination with Big Data, data warehousing, software robots (RPA) or workflow components, these tools provide the optimal basis for efficient digital reporting.
Automate and optimise your reporting process. Reduce the number of individuals involved in reporting. This not only creates space for value-adding activities, but also reduces your costs.
The value creation potential of more efficient reporting is even more promising. Reduce the number of individuals involved and automate your processes. This will allow you to deliver reports much more efficiently.
By automating and connecting recurring processes to quality-assured databases, the information and data in digital reporting are always up-to-date and of guaranteed quality.
In digital reporting, reports are always designed to be intuitive, easy to understand and flexible. Thanks to flexible customisation and evaluation options, recipients can determine for themselves what information is important to them, and at what level of detail.
The use of state-of-the-art risk management tools enables you to check the current risk situation at any time. By creating access to central databases ( single point of truth), the supply of data is automated and does not require any manual processes or extensive staff capacities. Reports are generated in real time, ensuring that you are always up to date!
There is the world of external, standardised financial reporting, and the world of internal control requirements that are sometimes driven on an ad hoc basis. Today, both reporting worlds are frequently still characterised by analogue structures with a large number of manual work steps.
Where do the two worlds differ?
While financial reporting and corporate disclosure management (CDM) are largely driven by the statutory provisions of supervisory authorities and are addressed to an external group of recipients, management reporting represents the daily control tool at the management level, and focuses on key sales and business results, KPIs or specific risk indicators. These are made available as a management dashboard in a concise format, which can be intuitively operated and features flexible customisation and evaluation options.
A disclosure management solution allows you to simplify and automate the entire close-to-disclosure process. This not only offers numerous advantages in terms of reporting quality and efficiency as well as improved collaboration between the parties involved, but often goes hand in hand with the possibility of achieving sustainable and lasting cost reductions.
Today, a high-performance and appropriate management dashboard is an absolute must for your management. Optimally integrated, this tool consolidates all data and not only provides you with a dynamic and granular status report in real time, but also supports informed, data-driven decision-making processes.