Collaborative report production management— combining numbers with narrative
Many companies have experienced growing pains in recent years with internal reporting and disclosure processes because of increasing data volumes and heavier demands from management teams and stakeholders. To produce any number of these required reports in different departments across the organization, contributors commonly work in Microsoft Excel, Microsoft Word, and Microsoft PowerPoint. Hours are spent manually copying and pasting data from source systems or disparate spreadsheets, and then passing these files back and forth over insecure channels, such as email, until the reports are complete. Certent CDM is a secure, collaborative, enterprise-scalable reporting and process automation platform for recurring, multi-author reports and presentations—helping companies meet a growing list of internal reporting demands with speed and confidence. It enables users to collect enterprise data from different sources and merge it with narrative analysis in a controlled, auditable environment—and it enables finance teams to create dynamic reports that update automatically when the numbers change in underlying data sources.
A “single version of the truth” for departmental and enterprise operations
Business leaders and managers need real-time data along with focused narrative analysis to communicate effectively with their stakeholders and to make better strategic decisions. Yet, because of an overreliance on general-purpose tools and manual processes, many companies struggle with creating timely, accurate reports that marry quantitative data with qualitative analysis. In addition, most companies don’t have an efficient, effective way to ensure data consistency throughout their business intelligence, budgeting and planning applications as well as management and performance reports. This leads to a lack of confidence in the data, which can have a direct impact on an organization’s ability to respond quickly to risks or take advantage of market opportunities. Certent CDM automates the assembly of business intelligence and performance management data with a single reporting solution, ensuring that there is a single version of the truth at all levels of the organization. For example, in the finance organization, corporate and entitylevel professionals can combine business intelligence with valuable performance management data and insights from throughout the company to produce a holistic picture of business performance and greatly improve the strategic decision-making process.
Intelligent process design and automation
Poorly designed performance management processes present obstacles to achieving consensus in business decision making, often leading to less than optimal outcomes. Many daily processes suffer from multiple bottlenecks related to data access— preventing highly paid professionals from working efficiently and effectively. An overreliance on uncontrolled spreadsheets and email can lead to material errors in reports, offer no audit trail, and force the finance team to rely on complex manual processes to ensure that reports are up to date and correct. With Certent CDM, users can create and enforce intelligent processes with integrated controls, compliance checklists and full visibility into each step of the process. Workflow and process dashboards help managers identify bottlenecks and refocus resources quickly. Standardizing processes throughout the organization—and using a single version of the data—minimizes debate over whose numbers are correct and speeds the process of reaching consensus, which means being able to react quickly to risks or take advantage of new opportunities.
Enhanced controls and reduced risk across operations
There are material risks associated with many of the traditional processes performed daily by teams responsible for legal reporting, tax, treasury, financial planning and analysis (FP&A), budgeting, and external reporting. Certent CDM reduces these risks with controls, security, data validation, and robust audit trail reporting for documents in Microsoft Excel, Microsoft Word and Microsoft PowerPoint. The ability to quickly identify audit trail reports and control mechanisms can save auditors from having to perform costly tests and inspections of these processes to ensure that the proper checks and validations have been completed at the end of each reporting period.
Integrated research for compliance and peer analysis
Data has moved beyond the point of manual tracking, and disclosures are only getting longer and more complicated. Be it a public or private company, the need to leverage publicly-available information for compliance and peer analysis has never been greater. Certent CDM is the only solution that offers a research function integrated into the reporting solution that provides quick access to over 35 million pieces of searchable content including regulatory filings (EDGAR/SEDAR), 11 newswire providers, and accounting standards to help companies manage their disclosure compliance, benchmarking, and technical compliance needs.
Deploy on the cloud to lower cost and risk—and speed time to value
Companies can reduce their time to value and lower adoption costs with the subscription-based cloud offering for Certent CDM. The availability of cloud deployment enables you to choose the best delivery mechanism for your corporate environment—without sacrificing capabilities or limiting future deployment options. When you deploy on cloud, you can add users as needed while minimizing the costs related to capital equipment, software licenses and IT infrastructure. You also gain benefits in cost accounting by shifting costs from capital to operating expenses.
Automate reports and effectively communicate business performance.
Internal reporting is a repetitive, manual process shared by public and private companies alike. As executive teams, boards and investors require increasing transparency into the business, internal reports must be created frequently and with maximum accuracy and cross-departmental precision.
Best-in-class internal reports go beyond the data to seamlessly incorporate narrative that effectively tells the story behind the numbers. Most companies want to achieve this depth of reporting, but encounter roadblocks because it’s a time-consuming and manual process.
In addition to producing external financial reports, Certent Disclosure Management helps organizations overcome the traditional monthly management reporting challenges such as versioning overlap and risky manual processes. Certent helps companies produce automated and scalable recurring reports that include narrative around the numbers to effectively communicate business performance to important stakeholders.