Exploiting IBM SAFR To Solve Financial Accounting Challenges

Financial services companies face extensive challenges connected to data estimate and financial reporting. Some of these challenges are caused by large increases in both the amount of data and the difficulty of financial systems that have occurred in new years. Others are connected to stretched regulatory final for data clarity and correspondence with definite stating and review mandate similar to International Financial Reporting Standards and GAAP. At the same time, the business final that timely and precise data be constructed in a cost-effective manner, in ways that show a aggressive advantage, and with the adaptableness to reply rapidly to changes inside of the business itself (such as by mergers and acquisitions) and in the incomparable context of the rapidly varying universal economy.

In many organizations the processes for acquiring, maintaining, and accessing data have unsuccessful to keep gait with the final of aloft volumes and finer detail. Furthermore, many companies have unsuccessful to take value of computing ability that has increased by orders of extend given their original, paltry financial systems were designed. To be competitive, companies contingency take advantage of the power of today's P.C. systems to lessen IT network fragmentation, residence scalability challenges, and lessen stating pressures to be able to give timely underlying financial sum together with outline data.

A number of ordinarily used business comprehension (BI) solutions have attempted to mitigate these stating and estimate challenges, but flop to sufficient residence all the issues. These applications have fundamental stipulations that operation from their outcome on network performance, to insufficient of timeliness and item of data, slow speed of producing reports, and the incapacity to access data over dispersed, manifold systems.

In difference to these conventional BI applications, IBM Scalable Architecture for Financial Reporting (SAFR) provides a scarcely preferred financial stating environment. SAFR is ample more than a stating tool, though. It is an design and an draw close that provides a full programming environment, matching with your existing systems, that solves data estimate challenges opposite a accumulation of industries. SAFR enables rapid and effective processing, whilst scaling to attend to roughly unimaginably large volumes of item data, by leveraging the industry-leading capabilities of IBM System z.

The SAFR Financial Management Solution (FMS), built on the SAFR platform, was created over a decade of work with a few of the world's largest financial services organizations. It provides accurate, consistent, transparent, and timely data at any desired turn of detail. FMS can create multi-part outputs, such as data cubes, reports, and data marts. Processing manners are beneath the manage of financial rsther than than embedded in programs in source systems, and an discerning user interface enables financial crew to manage and manage their own accounting manners and reports, and reduces the difficulty of seeking at the data. Reducing the amount of time outlayed on the low value automatic actions of convention figures enables financial practitioners to change their concentration to more prolific activities, similar to analyzing the data and creation business decisions.

This IBM Redguide announcement describes the SAFR answer and FMS, and demonstrates how these IBM offerings can help businesses compromise their data estimate challenges and encounter their financial stating needs.