Technology solution for your financial reporting requirements
The preparation of financial statements is a multi-stakeholder, collaborative process that requires keeping data consistent and reliable – a single, clear source of truth is vital. Financial reporting requirements and regulations are complex and differ across jurisdictions. This, coupled with shrinking timelines, makes the financial reporting process challenging for the finance function. Multinational companies have the additional complexity of dealing with statutory financial statement requirements for their group entities across different jurisdictions.
Leveraging technology to prepare financial statements helps to address the above challenges. Reporting UniVerse is a cloud-based solution that delivers a Board-ready set of financial statements and other sections of the annual report in an automated, user-friendly manner, helping streamline the reporting process. The platfrorm enables stakeholders responsible for reporting to work together to create a high quality outcome repeatedly.
Reporting UniVerse is a cloud-based solution that delivers a Board-ready set of financial statements and other sections of the annual report in an automated, user-friendly manner, helping streamline the reporting process. The platform enables stakeholders responsible for reporting to work together to create a high-quality outcome repeatedly in the most productive and time-efficient manner.
With a unique blend of strong accounting and reporting domain capabilities and an innovative Generative AI-based knowledge base, Reporting UniVerse is designed to leverage the power of technology to streamline the financial statement preparation process and achieve a fast, quality close.
Reporting UniVerse Modules
Master Set Up
- Entity creation based on client specific information.
- Setting up financial statement specific information.
Map Trial Balance
- Setting up the financial reporting architecture by mapping the trial balance with the related financial statement line items and groupings.
Upload Trial Balance
- Upload the current period trial balance.
- Input period-end adjustment entries.
Financial Statements
- Preparation of the entire financial statement structure including notes and disclosures.
- Mapping the numbers in the financials with underlying source data through system functionalities.
Final Output
- Preview output before printing.
- Ready to sign financial statements, entire annual report and XBRL filings.
Reporting UniVerse Features
HIGH QUALITY AND ACCURATE FINANCIAL STATEMENTS
Structured approach to Financial Reporting
Reporting UniVerse enables entities to automate financial statement preparation through a process-driven approach with an emphasis on efficiency, enabling controls and reducing errors.
TRANSPARENCY AND GOVERNANCE
SIMPLIFYING THE FINANCIAL STATEMENTS’ CLOSING PROCESS
Template Library
Reporting UniVerse enables users to leverage and replicate existing financial statement formats and to build a complete set in an efficient manner.
Why Reporting UniVerse?
Efficient and Accurate Preparation Process
Reporting UniVerse enables the automation of financial statement preparation and includes features such as Dynamic Linking, automated casting, connectors to ERP, a roll-forward feature, and a template library.
Supervision & Data Control
The platform offers workflow-based approval mechanisms at each stage of the workflow. The built-in validation dashboards help with automating many of the manual checks. The Audit Trail feature enables tracking of all changes made and to scrutinize source data.
Collaboration
Reporting UniVerse fosters a collaborative environment, allowing multiple users to work simultaneously on the same set of financial statements. The platorm’s task management feature helps monitor progress across multiple entities.
Easy to use, Intuitive Interface
The platform has an intuitive user interface designed to simplify interactions and enhance user experience.
GenAI Capabilities
The platform provides access to a one-of-a-kind inhouse generative AI chatbot, which enables the user to research accounting matters and benchmark disclosures.