Longview FXR provides a centralized financial reporting solution with embedded support for XBRL tagging and document creation that dramatically improves financial report preparation and publishing to internal stakeholders and regulatory authorities.
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Longview FXR specifically focuses on post-consolidation financial and external reporting processes including XBRL tagging, financial statement production, footnote disclosure management and outputs to regulatory authorities.
Longview FXR is tightly integrated with Longview 7 Consolidation but is also agnostic to the underlying ERP or financial consolidation tool. It handles the Disclosure management process and significantly enhances XBRL and external reporting capabilities.
The Challenge The financial consolidation and reporting cycle, which includes collecting and consolidating financial information from all corporate entities, closing the books, reporting to management, getting auditor sign-off on the results, reporting to regulatory authorities and issuing earnings releases and other statutory financial statements, is highly complex and fraught with myriad potential problems.
The continuing intensity of the regulatory requirements, including XBRL reporting, and the sensitive nature of the published financial information result in a great deal of time and effort of key personnel spent in creating, reviewing and validating the public filing package.
These requirements are driven by regulatory authorities in an attempt to increase transparency and accountability of financial information. Companies are required to provide increasingly deeper levels of disclosure, but are not being given additional time. Enlisting the services of traditional publishing services is becoming cost prohibitive as the level of disclosure increases. Longview FXR provides a comprehensive, embedded solution that promotes an effective, efficient and coordinated process in the effort to produce regulatory filing documents.
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