Excerpt: “Without wanting to paint a black picture: not only in small and medium-sized companies, the technological processes used to manage financial reporting often seem like relics from a bygone era. Simply fulfilling the external reporting obligations represents an obstacle course: numbers are transferred from a wide variety of local environments into central consolidation systems with manual help. For many areas, such as the notes to the consolidated financial statements, there is no automated support available. The resulting consolidated financial statements are re-entered by hand into a Word/Excel file, which will then hopefully be copied error-free into the annual report by the people responsible…”
Excerpt: “Without wanting to paint a black picture: not only in small and medium-sized companies, the technological processes used to manage financial reporting often seem like relics from a bygone era. Simply fulfilling the external reporting obligations represents an obstacle course: numbers are transferred from a wide variety of local environments into central consolidation systems with manual help. For many areas, such as the notes to the consolidated financial statements, there is no automated support available. The resulting consolidated financial statements are re-entered by hand into a Word/Excel file, which will then hopefully be copied error-free into the annual report by the people responsible…”
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