Today, states, counties, cities and independent agencies that prepare CAFR reports face an extensive challenge: completing an accurate, auditable, and timely CAFR while using manual processes that are inefficient, error-prone and lack strong internal controls. For many organizations, the annual CAFR reporting process usually takes months to complete, as public sector finance officials face the daunting task of preparing their organization’s financial information using spreadsheets or homegrown systems that are difficult to maintain or rely on significant IT support or outside vendors.
Our new generation world class technology solution can radically transform financial reporting process, bringing efficiency, order and control to what is often regarded as a somewhat haphazard and manual process characterized by multiple stakeholders, file formats, documents, outputs, applications and a heavy reliance on personal productivity tools, like MS Office. It can provide a secure environment in which multiple participants with different roles and responsibilities across many different departments can collaborate in the controlled assembly of complex outputs and filings yet continue to work independently.
Neubrain CAFR Reporting Solution is a secure, collaborative, enterprise-scalable reporting and process automation solution that enables users to merge enterprise data with focused narrative analysis in a controlled, auditable environment. It automates the collection of any and all data in a single, dynamic reporting and analysis solution.
Multiple participants in different departments can collaborate in the assembly of complex reports, working independently while ensuring that proper controls and approvals are in place. The solution provides integrated tagging to use on various regulatory filings and can create extension taxonomies with pivot based navigation for easy review.