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Disclosure Management Services
Can an effective disclosure management process improve your reporting?
Management, the board of directors or the external world want to have a consolidated view of the key data of an organization in order to better analyse financial data and act upon it. The creation of such a management reporting document is generally done during a manual process by cutting and pasting and dragging and dropping the required information into a word document, where the necessary comments are added. This so called ‘Last Mile’ needs to be performed every time the report is updated or recreated for a new (financial) period and for every report that the organization has to produce. The current disclosure process in place in many organizations is not without risks and generates significant overhead.
What are Disclosure Management Tools?
While many organizations struggle with disclosure management, technology solutions exist that lower the reporting risks and provide the finance department with more time and resources to focus on value added services to the business. These technology solutions are Disclosure Management tools.
A disclosure management process supported by a tool, is a single, secure and collaborative environment in which the organisation can safely manage and deliver a variety of documents to stakeholders in the reporting process.
Key features of a Disclosure Management tool
The journey together
The selection and design of a new disclosure management tool or process can be difficult and complicated, often involving significant costs.
By consequence, expectations are reasonably high and any system needs to bring significant benefits to maximize the return on investment and to become the preferred working solution for the organization.
Deloitte can serve as a “one-stop-shop” for entities in need of enhancing quality, timeliness and/or reduce the costs connected to their financial reporting process.