We see three major challenges that persist for firms in the production and analysis of their regulatory reporting:
- Volume challenges: Reporting requirements continue to proliferate, adding to the existing strain on resources and systems.
- Inefficiencies challenges: Tactical solutions, fragmented systems and manual processes mean that inefficiencies abound in regulatory reporting processes.
- Control Weaknesses: Volume and complexity makes processes prone to error. Systems, data limitations and process inefficiencies often represent an unclear or incomplete control framework. Discover the wide range of solutions Avantage Reply can provide.
- Process Efficiency Improvements: Our innovative approaches to driving efficiency in regulatory reporting, ranging from ‘low-tech’ process re-engineering solutions to more ‘hi-tech’ advanced robotics-based technologies, can save person-hours, production costs and leave more time for insight generation.
- Control Framework and Self-Assessment: Our structured approach to assisting management with compliance assessments is designed to provide comfort over compliance with rules as well as completeness and accuracy of data reported. As a valuable by-product, the depth of our analysis can also identify process inefficiencies leading to cost savings.
- System Integration: System solutions provided and fully supported utilising our partnerships with leading industry vendors, tailored to client specific requirements. Solutions are easily tested and integrated into the overall infrastructure, processes and controls.
- New Regulations and Norms: Our depth of business analysis experience drives our systematic approach to impact analysis, business requirements, functional specifications, data sourcing, report design and testing. This approach can be deployed to build confidence in the timely, accurate and compliant generation and reporting of new templates.
- Data sourcing, querying and extracting;
- Data manipulation and transformation;
- Opening and running programs or macros;
- Correcting data due to quality issues;
- Creating manual reports using spreadsheets or other end-user defined applications; and
- Maintaining spreadsheets and formulae.
- Regulatory Reporting - Our expertise
- Data robotics website
- ESEF for Financial Statement - Briefing note
