Financial Accounting & Reporting
Financial Reporting is an area of concern, in an intense regulatory and complex environment.
Risk officers are struggling to architect a well-outlined reporting structure that can navigate criticalities such as business risk management, financial reporting, compliance, and data. A number of new regulatory and internal process compliance challenges hinder analytical report generation while effectively managing cost.
Post-crash regulatory mechanisms such as Basel III, Dodd-Frank, FATCA and CCAR, and EMIR in Europe require agile and business-focused financial reporting software. There is also the need for additional financial reporting software, such as financial statement software, financial analysis software, and financial accounting software which offer on-time and ad hoc reporting with enhanced efficiency.
HCL’s Reporting Factory utilizes component-based reporting architecture and financial reporting software that is not only transferable but also highly scalable. Configurability is key to the HCL approach, creating analytical, client, regulatory, industry standard, ad hoc, and MIS reports with ease.
Reporting Factory includes next-gen frameworks, designed to segment and simplify the reporting infrastructure:
- Design Office is led by a team of financial software experts who receive reports and work on prototypes
- Ongoing Report Production function furnishes reports based on users’ requirements
Structured for assembly line delivery, both feature standard processes for risk management.
HCL’s Reporting Factory offers a single, integrated platform with upgrade and maintenance capabilities. This reinforces the fundamentals of banking: predictability, transferability, scalability, and repeatability as well as reduced user training and dependence on IT.