According to Gartner glossary, financial reporting is the process of producing financial statements that disclose an organization’s financial status to stakeholders, including management, investors, creditors and regulatory agencies. Each of financial KPIs is incredibly important because they demonstrate the overall ‘health’ of a company – at least when it comes to the small matter of money. These types of KPI reports don’t offer much insight in the way a company’s culture or management structure, but they are vital to success, nonetheless.
Well, there are three main factors:
- It is required by law for tax purposes.
- It gives investors, creditors, and other businesses an idea of the financial integrity and creditworthiness of your company.
- FR software provides crucial information that you can use to make better business decisions – for example, whether you should open a new branch or not.
Our approach & Solution
We define successful financial reporting as means to achieve timely and 100% consistent outputs. In order to provide this service properly, the following 3 items are the most important topics in our projects:
- Maturing the needs in detail together with business units
- Extensive business and technology knowledge
- Proper follow-up and guidance of priorities
We implemented our processes via Oracle Databases and Oracle Data Integrator.
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