Exploiting IBM SAFR to Solve Financial Accounting Challenges
Financial services companies face tremendous challenges related to information processing and financial reporting. Some of these challenges are caused by massive increases in both the amount of data and the complexity of financial systems that have occurred in recent years. Others are related to expanded regulatory demands for data transparency and compliance with specific reporting and audit requirements like International Financial Reporting Standards and GAAP. At the same time, the business demands that timely and accurate information be produced in a cost-effective manner, in ways that bestow a competitive advantage, and with the flexibility to respond quickly to changes within the business itself (such as through mergers and acquisitions) and in the larger context of the rapidly changing global economy.