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NEWSFLASH: The 21st century financial reporting function can be simplified!

Gone are the days of the simple double-entry accounting system. If you’re a finance manager you are well aware of the challenge of finding ways of successfully navigating not only the ever fast-moving economic cycles, but also multiple financial challenges and a constantly evolving set of accounting and auditing standards. And if that’s not enough you also face the arduous task of compiling detailed schedules, and including additional disclosure requirements for publically held entities.

So it seems that all things considered while the mechanical process and technology involved in performing the accounting reporting function has changed dramatically with the advent of the computer, it is the need for and nature of information required – largely due to King III - within the industry that has seen the most change.

In essence organisations now have to collate, communicate and continuously modify the way they report on both financial and non-financial data. Data which needs to be integrated but that in most instances originates from, and is captured, updated and stored on different systems in other departments outside of the finance department. This has dramatically complicated the accounting reporting function.

A simple solution to meeting the required industry standards

Finding a simple solution to collate, consolidate and communicate the data in a way that meets the required industry standards is often a challenge. However our clients will attest to the fact that RollupSheets provides an extremely simple and cost effective reporting solution.

As a one-of-a-kind financial consolidation solution RollupSheets can be integrated to supplement the already existing system with the power to extract the necessary data in the required format. This can be done quickly and easily with no additional infrastructure or changes to the existing system necessary. This functionality is invaluable in today’s complex era of integrated financial reporting. 

Going global

Mobile devices and computer capabilities mean that today people and business are able to think, act and work globally. The move towards implementing global accounting standards that will be standardised around the world is aimed at simplifying and standardising the communication between organisations and industries.

Here financial managers are realising the importance of opting for a solution, such as RollupSheets, that has the capacity to seamlessly consolidate data from a number of different sources and systems in order to standardise data and the way it is presented in the most simple and cost-effective manner.

In other words it’s yet another case for RollupSheets.