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White Paper

Automated Reporting

Published on April 15, 2021

Automating financial workflows by eliminating manual and repetitive tasks leads to increase accuracy, security and costs reduction of the entire department. We explore here the automation of reporting processes and how it enhances the agility of the organisation, transfers employee knowledge to company knowledge and reduces risk by avoiding business interruptions.

 

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KEY INSIGHTS

  • Enhance agility for decision makers: by automating the reporting process, the information is always consistent, available and centralised.
  • From employee knowledge to company knowledge: the process is not dependant on human knowledge or action but on company’s tailor-made algorithms and procedures.
  • Save time and reduce risk: report faster, keep an audit trail of the entire process and avoid business interruptions.

 

WORKFLOW

The process is divided in 3 steps:

Step 1 – Extracting the data from every of the entreprise’s solutions needed.

Step 2 – Cleaning, unifying the data and store it into standard databases.

Step 3 – Transforming and formatting the data to generate the report.

The original data source always remains untouched – we can correct it when we extract it (adding exclusions) but we never alter the original source.

Every transformation step is stored – we can easily track mistakes and data discrepancies to correct the algorithm and implement and new version of it.

 

OUTCOME

Depending on the report that needs to be created, the output can be multiple. 

For financial statements, it might be required to extract 3 types of report format – a specific file for the administration (XML), a file to upload in the ERP (Json) and a PDF document to print. Being generated through the same workflow, the data is fully similar and coherent between the different exports.

Above that, multiple types of reports can emerge from the same workflow – statutory reports and discrepancy reports, for instance, increasing time savings and agility.

 

Published by calan

ON April 15, 2021

ALL RIGHTS RESERVED.

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Automating accounting workflows by eliminating manual and repetitive tasks leads to increase accuracy, costs reduction

Automated Reporting

Automating financial workflows by eliminating manual and repetitive tasks leads to increase accuracy, security and

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