CAFR, Financial Reports, Budget Books

CURRENT PROCESS IS ERROR-PRONE AND BURDENSOME

Today, states, counties, cities, and other agencies that prepare CAFR and budget book 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.

EFFICIENT FINANCIAL CONSOLIDATION AND REPORTING

Our new generation world-class technology solution can radically transform the 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 where 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.

KEY USERS AND BENEFITS

Neubrain CAFR and Budget Book 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 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 for various regulatory filings and can create extension taxonomies with pivot-based navigation for easy review.

• Enterprise disclosure management - Combine financial data from various sources, dynamically linking numbers and narratives in financial statements, annual reports, board books, and regulatory reports for internal and external reporting across departments. The solution automates the entire close-to-report process. 
• Financial management process automation - Facilitate collaboration and communication among report contributors. Assign sections, and content items, set deadlines, status notifications, and have multiple contributors work within the report simultaneously while reducing bottlenecks, errors, and overlap. 
• Security, control, and governance - Multiple contributors can work simultaneously on the same document or presentation with full security and governance. The solution gives you full traceability by providing audit logs and controls that capture changes, updates, revisions, and every adjustment - including scaled, rounded values, and balancing adjustments, among others- so you can easily audit and trace information back to the source.
• Complete MS Office integration - Native integration with Word and PowerPoint, plus built-in accountability, status, and workflow function. The solution automates disclosure reporting and supports multiple output formats, including PDF, PPT, Excel, and Word. 
• Flexible deployment - On-Cloud or On-Premise deployment to meet your organization’s needs and preferences.
• Extensive XBRL support - enables the creation and validation of XBRL reports for debt management, grants management, or any other type of financial-based government reporting.