A Narrative Reporting Solution: IBM Cognos Disclosure Management Less Time Checking, More Time Analyzing.
For many mid-size companies, creating annual, quarterly, or monthly narrative reports is a time consuming, resource intensive and error-prone process. Organizations combine text, tables, charts, and financial data that are cut and pasted into the final narrative report.
In a recent CFO Research study, 90% of companies reported that they spend too much time with the manual assembly of reports, including cutting, copying, and pasting data. This manually intensive process yields the following:
- A high risk of errors and re-work whenever data changes
- A lack of governance the moment this manual process begins – there is no security or controls in place
- A time-consuming exercise – high value employees to spend too much time collecting and compiling
World-class finance organizations focus relentlessly on driving process simplification and standardization in the face of increasing business and regulatory complexity.
IBM’s Cognos Disclosure Management (CDM) is a secure, enterprise-scalable, reporting, and process automation solution that gives users the ability to collect enterprise data and merge with focused narrative analysis in a controlled and auditable environment.
By connecting directly to the data source (such as Excel or TM1 databases), financial numbers are automatically updated, ensuring a single version of the truth and confidence in the narrative report. This automation solution enables users to merge enterprise data with focused narrative analysis in a controlled, auditable environment.
Key Features of CDM:
- Enterprise disclosure management—Combine financial data from a variety of sources with in-depth narrative analysis for internal and external reporting across any department.
- Financial management process automation—Replace time-consuming manual processes with intelligent process design and automation.
- Security, control, and governance—Manage documents in a collaborative yet secure environment with visibility into the report generation process.
- Multi-jurisdictional XBRL support—Enable multi-national organizations to use a single reporting/tagging solution.
FYI Solutions and IBM are jointly hosting a webinar that will showcase the practical functionality of CDM from a turnkey perspective, showing how a narrative is created and updated when changes occur at the source. We believe this will be a very compelling demonstration that will resonate with organizations, showing first-hand the time savings and risk reduction benefits of this solution that translates to justifiable ROI. Webinar Details:
Date: January 14, 2015
Time: 12:00pm EST
Duration: 30 minutes
Please join us for this very informative event!
FYI Solutions is an IBM Premier Partner in Business Analytics. We have over 30 years of experience helping companies like yours make better decisions through data governance and business analytics. For more information about CDM or FYI Solutions, contact us.