automating_budget_books_board_packets_and_other_essential_narrative_reports
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The document discusses IBM's narrative reporting solution. It begins by outlining the problems with current manual reporting processes, such as being error-prone and time-consuming. The solution aims to automate reporting, allow simultaneous authoring with workflow tracking, and connect reports to various data sources. It then provides an overview of the IBM Cognos Disclosure Management software, which facilitates interactive report production and management. Finally, a case study example is given of an Australian food and beverage company that streamlined its financial reporting process and saved 12 days of manual work per cycle using the IBM solution.
automating_budget_books_board_packets_and_other_essential_narrative_reports
- 1. 息 2015 IBM Corporation Automating budget books, board packets, and other essential narrative reports Justin Lai Product Manager 15 September 2015
- 2. 息 2015 IBM Corporation2 Current View Our Narrative Reporting Solution Product Demo Client Studies
- 3. 息 2015 IBM Corporation3 Management reports Examples Briefing book Financial statement reporting Key performance indicator (KPI) reporting Board books Variance reporting Occupational health and safety incident reporting Examples Industry: airline form 41, bank regulations Public sector: comprehensive annual financial report, budget books Tax and statutory reporting External and regulatory reports Examples Treasury management Cash management Account reconciliation Budget books Manuals Internal reports Examples Internal management reporting Disclosure management reporting Close, consolidate and report Organizations often have the following reporting requirements
- 4. 息 2015 IBM Corporation4 Contributors Approvers Report Consumers Reviewers Document Managers Corp Consol ERP Legacy Systems Manual processes Error-prone Re-keying No control Replicated data on desktops and in email High degree of risk Little or no security Extremely inefficient use of human resources Authentic Enterprise Source Systems Corp GL Management Operational Reviews & Executive Presentations Budget & Variance Reports Statutory and Regulatory Reports (examples) Solvency II COREP/FINREP Basel III SEC XBRL Mandates Typical organizational reporting process
- 5. 息 2015 IBM Corporation5 1. July 2012 Linking Numbers and Narratives: Correlating Quantitative Reports with Qualitative Analysis Bottom-line: Manual report production is costly, comprised mainly of non-value added time, and creates significant risk of errors with no audit trail. of companies admit they spend too much time with the manual assembly of reports, including cutting, copying and pasting data. (1) of companies are concerned with the impact resulting from erroneous or old data being used in a report. (1) Organizational report production today relies on outdated tools and processes
- 6. 息 2015 IBM Corporation6 Rising to this challenge requires that we address common challenges: No time to prepare No control over the process No confidence in process Overall problems with reporting now
- 7. 息 2015 IBM Corporation7 How to address these problems? Reduce production costs for the organization Empower specialists to work simultaneously on one component of a report Drive automation to reduce errors and improve speed
- 8. 息 2015 IBM Corporation8 Current View Our Narrative Reporting Solution Product Demo Client Studies
- 9. 息 2015 IBM Corporation9 Visibility across the entire reporting process An interactive report production management lifecycle tool Automated text and narrative generation Simultaneous authoring with workflow and audit trail Streamlined assembly of reports and presentations Directly connects reports to IBM Cognos TM1, IBM Cognos BI and non-IBM data sources Makes recurring internal and external reports fast and easy The Cognos Narrative Reporting Solution
- 10. 息 2015 IBM Corporation10 Report The Solution: IBM Cognos Disclosure Management
- 11. 息 2015 IBM Corporation11 Reviewers Document ManagersContributors Multiple Output Options HTML Edgarization Consolidations ERP TM1/OLAP Data Warehouse Source Data Multiple Reports The Solution: IBM Cognos Disclosure Management
- 12. 息 2015 IBM Corporation12 Current View Our Narrative Reporting Solution Product Demo Client Studies
- 13. 息 2015 IBM Corporation13 Product Demo
- 14. 息 2015 IBM Corporation14 Current View Our Narrative Reporting Solution Product Demo Client Studies
- 15. 息 2015 IBM Corporation15 12 days of manual work days saved per reporting cycle best in class the type of solution Lion saw in IBM majorly reduced the total workload Solution components IBM Cognos Disclosure Management Business challenge: Lion aimed to transform its finance function from a business partner to a true value creator for the business. To gain momentum, it needed an initial project workstream that would deliver results fast. Analytics journey: Lion achieved a quick win for financial reporting by streamlining the last milethe process of drafting, reviewing and publishing the reports itselfwith IBM Cognos Disclosure Management software. IBM Cognos Disclosure Management was the winner. We saw it as the best-in-class, market-leading solution. Rob MacKenzie, group accounting manager and project lead IBMs solution keeps one of Australia's leading beverage and food companies focused on the future, not the past
- 16. 息 2015 IBM Corporation16 息 2015 IBM Corporation16