Business and Financial Reports with Financial Statement Factory: Less Time, Less Effort, Higher Quality
Every quarter and year-end companies face the challenge to deliver business and financial reports with correct content but with reduced personnel in shorter and shorter times. The requirements regarding quality and consistency of the data in these reports are extremely high. Several departments and users process and update documents. Changes have to be comprehensible. Before the consolidation of the individual documents they have to be approved. The result is not only printed but also provided to different target groups in different data formats such as PDF, XBRL, HTML, etc. The monitoring of the complete workflow is critical in order to comply with the time schedule. The whole process and the result have to be audit-proof.
Creating Reports with cundus Financial Statement Factory
- Creation process with cundus Financial Statement Factory
Use cundus Financial Statement Factory to support your creation and update processes in financial and management reporting. The direct connection of your data sources and consolidation systems with Microsoft Word enables a correct, audit-proof, time-saving, and efficient generation of business reports. By the means of this workflow-operated software you generate your business reports in future at the push of a button. Look at the following diagram to see how a creation process could be in future.
Who will benefit from cundus Financial Statement Factory in your company?
Decision-maker level:
• Faster availability of business and financial reports
• Adherence to compliance targets
• Cost saving
Department level:
• Time and cost saving
• Process monitoring and control
• Higher audit compliance
• Greater flexibility
• Preservation of the known working environment
IT level:
• Lower TCO (Total Cost of Ownership)
• Smooth integration with existing structures
• Fast implementation and low maintenance
cundus Financial Statement Factory Supports the Whole Process of Report Creation
cundus Financial Statement Factory subdivides the creation of a business report as follows:
Within the scope of preliminary work, the central definition of the document structure and layout is performed. Afterwards, the collection processes, the authorizations, as well as the completion deadlines are defined.
In the second phase “Rollout and redelivery” the individual document templates are distributed, edited manually, and updated with data from the linked source systems at the push of a button. When doing this, the employees can display and process further the data in each chapter from any data source. Every chapter can contain formatted text, tables, and diagrams. Access to the individual chapters is managed via the authorizations created previously.
The approval and acceptance process then follows for each individual chapter. After the automatic consolidation of the report fragments a last check of the layout is performed. Finally the report can be generated, approved and published.
Access to Different Data Sources
With the help of the proven cundus BI Publisher technology you can refer to different source systems within the business report templates that contain the necessary data for creating reports. The direct link of report templates and source systems as well as the automatic update of report contents ensure the access to already validated data. Furthermore, manual data transfer is eliminated as a potential error source. Possible data sources are data warehouse, consolidation, and database systems as well as Microsoft Excel files. When accessing these data sources, users are only able to display the data for which they are authorized in the source system.
Audit Compliance by Change History
To guarantee audit compliance, a change history mechanism is available that comprises a detailed tracking of changes. With this function different versions of a document can be directly compared with one another by marking all changes.
Simple Handling by Office Integration in Microsoft Office
The creation of the reports takes place in the known working environment. This has the advantage that the usual formatting options of Microsoft Word or the known calculation operations in Microsoft Excel are still able to be used. This has the advantage that users of cundus enterpriseReporting do not require training to get used to a new working environment.
More Effective Management of Report Creation by Workflow and Multi-User Capability
cundus Financial Statement Factory offers a user-friendly web interface for managing and defining flexibly the workflow creation process. This web interface includes among other things a status monitor that clearly illustrates the complete processing status of the report to be created. The various work steps can be assigned to different employees using the task list. When doing this, configurable conditions ensure that the user can only carry out steps for which they are authorized. To enable working in parallel on the same report, different report parts can be distributed to different user groups.
