TECHNOLOGY

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IBM Cognos FSR and CDM

CDM (Cognos Disclosure Management) and its predecessor, FSR (Financial Statement Reporting), provide a secure, collaborative and scalable solution for manual reporting processes, resulting in an automated process that is faster and more efficient. With an intuitive interface that leverages familiar formats such as Word and Excel, CDM reduces risks, errors and inconsistency, and enables users to merge data along with focused narrative analysis, in a controlled and fully auditable environment.

Multiple users from different departments can collaborate around the creation of complex reports, working independently of one  another, whilst ensuring that proper controls and approvals are in place. In addition, CDM provides integrated tagging for a range of filing mandates from Stock Exchanges and Regulators, as well as automated Taxonomy Extensions.

Typical reports processes include:

  • Investor relations: Press Releases, Annual Reports, Prospectus, News Wire Releases
  • External Reporting: Statutory reporting – SEC Filings, LSE RNS (Regulatory News Service) with the RNS Validator', CSR and GRI Reports
  • Legal: Notes & exhibits to Statutory Filings, Proxy Statements
  • Regulatory Reporting: Reporting to National and Regulatory bodies such as HMRC
  • Industry specific: Basel III for Banking, Solvency II for Insurance, FINREP, COREP
  • Internal Reporting: Board Books, Flash Reporting, Management Reporting, Treasury Management

 

Enterprise disclosure management

Combine financial data from an array of sources, including from IBM Cognos TM1, IBM Cognos Business Intelligence as well as other relational tables and cubes; with qualitative narrative analysis for internal operational reports, presentations and external disclosures.


Financial management process automation

Manual Processes that dominate 'The Last Mile' of finance compress deadlines and increase potential for error. Key reports such as management and operational reports, strategic plans and forecasts and board books not only take time to review, but also suffer from data accuracy issues, which arise from manual re-keying, scaling and rounding; lack of version control over shared files over email; lack of workflow control over changes and a lack of evidence of compliance/audit trail. With CDM these issues are replaced with intelligent process design, automation of reports, and a secure, auditable workflow and collaborative environment. This results in reduced risk, costs and cycle times, driving real time and accurate analysis, enabling key leaders to make faster business decisions.


Security, control and governance

With a single and secure solution that scales across multi-national company boundaries and offers tight integration with differing data sources; CDM provides enhanced control and a single version of truth over normally manual reporting processes, and greater
visibility and ease of use through familiar capabilities of Word, PowerPoint, Excel and PDF documents.


Multi-jurisdictional XBRL support

XBRL tagged (Extensible Business Reporting Language) documents can be generated for regulatory filings in GAAP and IFRS jurisdictions. Furthermore, industry specific tagging requirements are also supported, such as Basel III and Solvency II and other mandated frameworks from the European Banking Authority (EBA) such as the FINREP (Financial Reporting Framework) and  OREP (Common Reporting Framework). Finally, financial data can be tagged and automatically flowed through to future reports to support simpler ongoing reporting processes and multiple compliance mandates at the same time.


Cloud-based deployment

Provide all the functionality of an on-premise solution plus the capability for direct integration with on premise data sets without sacrificing capabilities or limiting your options in the future.

IBM FSR Lion Case Study See how Lion, a leading food and beverage company transformed their financial reporting process.