The compounding effect of expanding volumes of data and increasing demands from both regulators and stakeholders has made it very challenging to complete both the external and internal reporting and disclosure processes.
Most of the disclosure requirements can only be completed by the collaboration of contributors from different departments across the organization. Currently collaborators work together mostly through Microsoft Office files, manually copying and pasting data from source systems, and then passing these files back and forth over insecure channels, such as email, until the report is complete. Many of the current disclosure management processes are manual, error-prone and risky of not meeting regulatory needs.
IBM® Cognos® Disclosure Management (CDM) offers a secure, collaborative, enterprise-scalable reporting and process automation platform that enables users to collect enterprise data and merge it with focused narrative analysis in a controlled, auditable environment. It is purpose built to transform manual processes and enhance controls well beyond the external corporate financial reporting process and across a global operation. Cognos Disclosure Management allows companies to meet an ever-increasing array of regulatory and statutory mandates as well as a growing list of internal demands with speed and confidence.
As a premier partner of IBM business analytics technologies, PREDICTif has the finance knowledge and technological know-how to deliver a best of breed disclosure management solution that fully leverages the innovation of CDM and brings maximum value to our customers:
- Establish a single version of the truth for departmental and enterprise operations that includes real-time data along with focused narrative analysis for business leaders and managers to communicate effectively with stakeholders and to make better strategic decisions.
- Create intelligent process design and automation to achieve consensus in business decision making, leading to optimal outcomes.
- Enhance controls and reduce risk across operations systematically to eliminate material risks associated with many of the traditional processes performed daily by the teams responsible for legal reporting, tax, treasury, financial planning and analysis (FP&A), budgeting, and external reporting.
- Include integrated tagging that addresses many worldwide statutory and regulatory reporting requirements.
- Offer both cloud and on-premise deployments to lower cost and risk, speeding time to value
- Support many global GAAP and IFRS taxonomies, as well as industry-specific taxonomies such as Solvency II for the insurance industry and the Common Reporting Framework (COREP)
- Facilitate the creation and maintenance of extension taxonomies and includes a highly intuitive, easy-to-navigate XBRL viewer to ensure easy review.
Being among the earliest implementers of CDM, PREDICTif’s CDM Consulting services offer both quality and value to our customers. Please review our Success Stories for better insight into our approaches and customer successes and contact us today to engage PREDICTif’s award winning CDM Consulting team!