Company: IBM United Kingdom Limited
Published: 19 January 2012
Despite being so important, the process to create the Annual Report is still stuck in the middle ages, with companies using a time consuming and error prone manual approach. The process typically starts with dozens if not hundreds of spreadsheets being extracted from a company's financial systems, consolidated with other data and edited. Then these spreadsheets are emailed to several more people for their inputs. This swirl of spreadsheets inevitably leads to mistakes. It has to. One example: a major financial institution made a $1 billion financial statement error because somebody made an unapproved change to a formula within the spreadsheet. This paper discusses the issues/risks involved and the solutions available for an automated approach to producing a company's vital reports. Download this free white paper to learn more.