Published on 28-Aug-2013
"The IBM Accelerated External Reporting Solution process will also allow for a much higher level of management visibility over not only the statutory reporting workflow, but also the processes within the workflow. This visibility will allow us to make better decisions on staffing and execution" - Christopher Gullotta, Director – IFRS Policy and Implementation and Statutory Reporting at IBM
BA - Business Analytics, BA - Business Intelligence, BA - Risk Analytics, Big Data, Big Data & Analytics, Big Data & Analytics: Transform processes, Business Integration, Business Performance Transformation, Business Resiliency, Data Warehouse
For most companies, the need to file regular reports with financial regulators and tax authorities, and the gathering, amalgamation, analysis and reporting of data for each of the legal entities within their group, can often be a significant challenge.
With a complex business model that operates in hundreds of locations and has varying legal entities from country to country, IBM wanted to cut the cost and complexity of its global statutory and tax reporting processes, while gathering the rich data it needs to enhance financial analytics.
IBM has developed the IBM Accelerated External Reporting Solution, which provides a seamless end-to-end process for gathering and validating financial data and producing statutory and tax reports – quickly, accurately and with minimal manual effort. The solution is based on a combination of proven IBM technologies, which enables rapid, low-risk deployment.
The solution streamlines data-gathering and external reporting for both statutory and tax environments. It empowers financial analysts by eliminating manual work and supporting deep-dive analytics. It will potentially save millions of dollars annually on staffing, consultancy and audit costs for statutory reporting.
This video captures how the IBM tax and statutory reporting team have utilized the AER Solution platform to provide consistency and automation to their reporting processes. AER Solution is a stack of IBM products including CDM, BV, TM1, and DB2.
Products and services used
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