Regulatory reporting requirements are a growing challenge for many industries (e.g., FERC e-Tariff reporting in Energy, Form 41 reporting in Transportation, FR Y-9C reporting in Banking). As regulatory reporting requirements become more complex and numerous, companies are faced with a dilemma: how can they deliver accurate regulatory reports while minimizing the cost of delivering these reports. Companies need to mitigate several sources of regulatory reporting risk including risk of errors in the final reports, risk of late submissions, and risk of insider leaks. Until recently, the only way to ensure accurate reports was to add headcount. But, adding headcount doesn't remove the inefficiencies and risks inherent with consolidating multiple spreadsheets, finding and correcting mistakes, managing compliance checklists, and coordinating the review and approvals process. A better solution is required.
Regulatory Reporting Using IBM Cognos FSR
IBM Cognos FSR automates the creation of regulatory reports. IBM Cognos FSR provides a collaborative environment where many contributors can participate in the creation of the documents, within a secure application, with a tight audit trail and with seamless connection to source data. With IBM Cognos FSR, you can produce reports more efficiently, with more controls and in compliance with any internal controls. IBM Cognos FSR is the only commercial software solution designed to specifically automate the regulatory reporting process.
