Difficulty Sharing Financial Information (Internally and Externally)

  • You currently are not able to create reports with presentation quality, or the way you are doing that is inefficient. You either have to go to IT, which is time-consuming, or re-key data into another application, which must be done too often and also takes too long.
  • You need to manually schedule the running and distribution of reports. Sometimes there are errors, reports run late, and/or they are sent to the wrong distribution list.
  • Users want reports in different media. You cannot support all the types of media they want, and it takes too much extra time to work this issue out.
  • You need to submit reports to organizations requiring the XBRL taxonomy. The way you are currently creating those reports so that they include the XBRL taxonomy takes too long and the penalties for missing a deadline for reports requiring the XBRL taxonomy are too harmful.
  • You have to create multiple versions of the same report to screen out information that certain users are not allowed to view.

About the Author: AJ Amjad Khanmohamed

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