Guest post from Paul Bard, IBM Business Analytics
You hear the words “visibility” and “transparency” a lot when people talk about corporations and the information that they need to share with regulators and stakeholders. But the words “privacy” and “security” are heard just as often. So finance teams in big companies need to be extremely careful about exactly what information they disclose, when they disclose it and to whom.
In recent years especially, there has been a daunting array of new reporting requirements from regulatory bodies in the U.S. and the European Union. One of the most important of these is the requirement that financial reports be formatted with “tags” for Extensible Business Reporting Language (XBRL). As a result of all this, many companies are struggling with the volume and complexity of their external financial reporting. But fortunately, there’s an IBM solution that makes the whole process a lot easier.
IBM Cognos Disclosure Management is a reporting solution that lets finance teams collect enterprise data and merge it with narrative analysis in a secure, controlled environment. That “narrative analysis” part is key, because this includes the commentary to financial reports that often receives close scrutiny from regulators and investors. Yet Cognos Disclosure Management is not just for external reporting. It’s for any report that requires data, graphical representations of the data and narrative text depicting the data.
With Cognos Disclosure Management, finance teams can automate many of their manual, spreadsheet-based processes. And even complex organizations with subsidiaries around the world can have better control over the assembly and distribution of information.
Cognos Disclosure Management gives finance teams:
- A layer of control and collaboration that provides better visibility into the reporting process—multiple users can view and edit reports simultaneously without versioning problems
- Integrated XBRL tagging that lets users tag financial data and commentary just once and have it automatically flow to future reports
- Dynamic reports that automatically update when the numbers in underlying data sources change
In addition, Cognos Disclosure Management is the first solution in the enterprise disclosure management market to offer both on-premise and on-cloud versions (NEW!), allowing customers to pick the delivery mechanism that works best in their corporate environment, without sacrificing capabilities.
Cognos Disclosure Management also enhances security over sensitive data and reports with a comprehensive set of internal security features that prevent data leaks. Overall, Cognos Disclosure Management makes it easier for finance teams to share what needs to be shared, and keep private what needs to be private.
Because one word that finance people never want to hear is “oops.”
For more information:
- Download the IBM Cognos Disclosure Management data sheet
- Watch how to Transform Finance Operations with IBM Cognos Disclosure Management
- Register for IBM’s upcoming Business Analytics Virtual Launch (Tuesday, June 11) and learn more about IBM Cognos Disclosure Management