Taking a pivotal position in any enterprise, financial reporting helps the management engage in effective decision-making regarding a company’s overall objectives and strategies, and monitor their financial health. A vital aspect of running a business, financial reports provide greater visibility and insight into business operations including financial history, adherence to tax laws, compliance with SEC standards, employee and department productivity, and return on investment. Further, legal compliance and stakeholder confidence depend upon the detailed information in financial reports.
With numerous financial reporting solutions being developed to optimize the efficiency and reliability of a company’s reporting functions, these solutions help automate the collection of financial data and accurately track trends that affect business goals. The increasing automation of financial reporting has resulted in many benefits including reduced time and labor, improved search capabilities, and efficient extraction and formatting of required information. Additionally, firms can more effectively monitor if specific policies and protocols are being followed across the company.
Regardless of an enterprise’s size, financial reports are key to determining whether internal goals and budgets are being met. In the current competitive business market, financial reporting solutions have become essential to reduce accounting costs and boost efficiency.
To lend a better perspective of the financial reporting solution landscape, we have examined leading financial reporting solution providers and narrowed it down to 10 choices. Our distinguished selection panel comprising CEOs, CIOs, CFOs, industry analysts, and CFO Tech Outlook’s editorial board has thoroughly analyzed the industry and recognized key players.
We present to you CFO Tech Outlook’s “Top 10 Financial Reporting Solution Providers – 2018.”