Transforming the Financial Close

Manual report review occurs at every level of the organization: local, regional, business unit, and enterprise-wide. With hundreds of local entities across numerous regions and business units, the manual process of report review becomes even more time consuming and costly with increased company size and complexity.

Report Validation scans targeted reports electronically and flags value exceptions automatically. Advanced error detection capabilities find potential mistakes before they can become costly, ensuring that close tasks are not delayed. So personnel can spend less time on error correction and focus more on analyzing the results for important decision making.

Features

Report Validation features sophisticated report capture, validation preparation, data validation, and status communication functionality.

Report Capture: Report output from enterprise applications is typically generated in standard text-based layouts or in PDF format. Each formatted report is automatically validated when all the required information is present.

Validation Preparation: When all the required reports have been captured, individual report files are pre-processed and optimized for the electronic scanning process. Reports from multiple systems with different output formats are converted to a standard format and ordered in a sequence that makes sense for data analysis.

Data Validation: The report file packages prepared in the Validation Preparation step are inspected according to prescribed validation rules. Report Validation has intelligence built in to locate key identifiers that precede targeted values and then extract the value that follows. Pages that contain a targeted value are copied, and compared values are highlighted so users can view the results in the next stage of the process.

Status Communication: At the conclusion of each validation process, the extracted output pages and validation success or failure status are communicated to the process automation infrastructure. Users can see the results of the Report Validation process through the FPA Process Monitor or the SAP Financial Closing cockpit as well as choose to have the results written out to a known location.

Report Validation streamlines the close process and enables you to more easily meet complex audit and compliance mandates. The result is a financial close that produces information with greater accuracy, consistency and reliability.

For More Information

To find out how Report Validation can provide real value to your business, contact your local Redwood Software representative.