finance transformations and reporting
Organizations that lack sufficient time for value-added activities often exhibit signs such as requiring more than five days to close the books, using a spreadsheet-based financial consolidation process, needing many manual journal entries or other manual activities to close the books, lack of capacity to analyze business drivers and identify root causes, and a current or recent merger, acquisition, spin-off or sale.
EAPT's Finance Process Optimization & Integration Suite can help companies shrink transaction processing costs up to 30 percent, reduce error rates by up to 90 percent and compress cycle times by up to 70 percent. With our help, our clients have been able achieve these benefits through targeted process improvement, creating shared services and outsourcing non-core transactions where appropriate.
We help clients implement standardization across business unit functions in processing information, submitting local ledgers and posting closing entries in order to lower exception rates and the level of rework needed. Our Finance Process Optimization & Integration team develops a chart of accounting and reporting structures to facilitate capturing and reporting of appropriate information for all stakeholders, which enables the organization to meet management's demand for analytical information without a high level of extra effort.
The finance data quality challenge seems straightforward — simply ‘cleanse’ finance data to make sure it's standardized and correct before use, but the inherent complexity and variability of data confounds traditional approaches and technology. As a result, most cleansing operations are done by hand — a fundamentally slow, expensive, unreliable and unscalable option that may not even work. The first step when receiving new data is to make sure it's consistent and error-free. Traditional coding and tool-based approaches choke on the variability of most product data, so the process has largely remained a manual task. Sometimes information is simply missing or clearly incorrect and massive effort is required to find or validate it from external sources. The inability to identify what an item is and how it fits into a classification scheme (or taxonomy) impacts everything from spend classification to loading a MDM or data warehouse.
EAPT Standardization Solutions offers quick and efficient ways for Finance Data Cleansing & Standardization. Our Engine is automated to speed cycle times and improve quality ― forever changing the value and power of product information within the enterprise. The bulk of the cleansing and standardization effort can be automated and remaining gaps or errors are highlighted for faster, more focused resolution. This ability is essential for systems to know how to group data for business intelligence or to route records for exception management. Profiling and classification to any taxonomy is automated, allowing a much higher level of business intelligence and process automation.
GAAP (US and Local) Reporting
Accounting and tax regulations in the United States are complex and difficult to implement. Foreign subsidiaries of US based companies often need reporting assistance, training, and tax advice from qualified CPAs.Implementing or maintaining US GAAP as your reporting structure is demanding. A company directly listed with the SEC or associated with a listed company requires audit and review services from an international accounting firm with an outstanding reputation.
Companies committed to a financing plan involving the US debt or equity markets need an international accounting firm with US reporting and tax experience.
EAPT has created the US Business Advisory Group to help you navigate the demands on your business, chart your opportunities and provide a beacon of ethical and technical knowledge for US issues in an international market..
EAPT is the leading professional services firm in US accounting. Our specialists benefits from a strong global network. Our experts has a proven track record assisting ompanies with US accounting, and business planning needs and is able to provide our clients with a link to the largest global network of professionals providing US advisory services in the world.
Finance departments worldwide face continuous pressure to deliver efficient and accurate financial and regulatory reports as well as support the appropriate systems and processes to drive better performance. Many departments are challenged by a lengthy, or inefficient, close process with multiple manual steps and checkpoints. For these departments, collecting and verifying data is challenging, as is processing consolidations such as minority interest, currency, multiple GAAP and regulatory reports. Financial statements are delivered just in time, with little time available for analysis or review. These issues are particularly challenging for European Union countries where legislation such as the Transparency Directive, is driving the acceleration in reporting timeframes and demanding increased certification of final results. This puts enormous pressure on systems to support these requirements.
EAPT' IFRS Reporting Solution helps customers address the challenge of facilitating continuous performance improvement practices while efficiently meeting the demands of compliance and external reporting under International Financial Reporting Standards (IFRS). The solution is specifically designed to support organizations that are required report under IFRS guidelines, and provides a financial consolidation foundation system to support additional regulatory and management reporting. To help you meet the challenges of transition to International Financial Reporting Standards, we offer a business-based approach. We work with you to understand the technical accounting complexity of adopting IFRS and update your reporting process accordingly. We also help you to identify and manage any broader impacts to your business.
In today's organizations, a vast amount of important security and compliance data is stored within multiple applications, making it very difficult and time
consuming to correlate and analyze this valuable information, and because management applications are forced to purge data regularly to accommodate for volume and performance concerns, trending and analysis of data over time is almost impossible. By bringing it all together, organizations will improve
compliance reporting and speed troubleshooting with historical analysis and
EAPT' Management Reporting Suite helps clients generate enterprise reports for all stakeholders in browser-based, Web-formats. Most users want to do more than view enterprise reports — they want to interact with them, drilling down for more detail, manipulating numbers to answer vital questions and performing ad-hoc analysis of live data. We deliver reports with flexible navigation, data drilling, hyperlinking and SmartSearch capabilities your demanding end-user community requires. Flexible drilling options allow users to get detailed or summary data on-demand.Reports can be scheduled to run and distributed via email per your calendar and recipient requirements.
Our Solutions helps organizations grow revenues more quickly, predictably and profitably by improving the operating performance of the organization, enabling it to make more accurate forecasts, better manage resource decisions and improve force productivity.