Simplify, Expedite and Validate Financial Statement Reporting in Your Natural Working Environment

Generica FSR reduces complexity, improves governance, and ensures compliance, while increasing the productivity of accounting staff, by enabling management of all financial statements and supporting documentation within the natural working environment – Email, MS Word, MS Excel and PDF.

Expanded demands for statutory and regulatory reporting have increased the workload for departments involved with the “Last Mile” of finance, i.e., the generation of audited financial results and supporting disclosure to stakeholders.
The traditional generation of reports is time consuming, demands intense attention to details and involves significant human resources. Every change for the current period be it for an annual report or for a quarterly report, must be identified, verified, and entered into the document. Each financial quarter, accounting staff must enter data gathered from multiple Excel spreadsheets, Word and PDF documents, in a tedious and error-prone process.

Integrating all the data into a single document while verifying both that the numbers ‘add up’, all “circles” are covered and that all reporting regulations are enforced are challenging tasks – conflicts and discrepancies arise and they have to be identified and resolved. Mistakes are cause for an internal “blame game”, while externally, companies are legally responsible for providing accurate information, that fully adheres to demanding and strict regulation made by certain GAAPs, SEC, etc.

Some of the largest financial advisory firms have recognized KCS’ Generica FSR unique and appealing offering and are now offering it to their clients. Joint expert teams are working with customers to map processes, stakeholders and objects of financial statement reporting to create a structured methodology and business logic reflected in the Generica FSR solution. Generica FSR accesses all relevant spread sheets and publishes applicable cells into a central database where report information is managed. Through a management interface, users can then create a financial report in an MS Word template or easily update the previous quarterly or annual report, with information from the database embedded at the right place in the document. Generica FSR also executes a verification process to make sure data integrity is maintained and full regulatory compliance is achieved.

Features

Electronic Smart Objects

Generica FSR is based on KCS’ “Electronic Smart Objects” technology that enables users to convert unstructured data into Smart Objects within the original Word, Excel, PDF or Email document. All FSR features and capabilities can be executed from the document or from the central management system. Without leaving the original files, Generica FSR allows users to track, view, and execute all the changes necessary in financial statements and supporting documents. Generica FSR then enables them to be implemented efficiently while being fully controlled throughout the process. This capability reduces overhead, saves time, helps avoid mistakes, and ensures that the management snapshot is always up-to-date.

Flexibility – An Off-of-the Shelf Product with Tailor Made Customization

Generica FSR allows for a quick and easy tailoring of its processes which results in both short and long term savings. Generica FSR produces an individual solution for each customer that still retains the requested FSR features. You can support existing processes or install a completely new system – Generica FSR allows you to use your existing systems and solutions, while smoothly transitioning to Generica FSR. Implementations are conducted by highly experienced and professional teams, including leading advisory services firms that analyze the organization processes and needs, recommend improvements, and implement accordingly.

Adaptability – Manage any GRCM Process on a Global Basis

FSR customers typically expand the use of KCS’ solutions to cover most of their GRCM challenges. Generica can address core processes such as SOX management, ERM, internal audit, security assessment, risks management and protocols management. KCS’ solutions can be used locally or across a global organization. This means significant savings on hardware and software costs, IT overhead, operational simplicity, training, and updates.
Generica FSR is based on a ‘pay as you grow’ model – cost is directly linked to report size.

Quick and Easy Customization and Deployment

The entire customization process is completed while using minimal time and resources from you and your team. We employ an iterative-prototyping process, in which most of the work is done off-site, on our server. After only two or three iterations, the design is complete and we are ready to install on-site, deploy, train and launch.

Why you should use Generica FSR?

Easy Deployment

• Short and easy learning curve – no need to navigate unfamiliar sequences of pre-defined UI screens
• Saves time and money on training of accounting staff

Ease of Use

• Easy shift between quarters and years
• Conduct and manage quality processes in the natural working environment where they are the most comfortable– Email, MS Word, and MS Excel
• No duplication of efforts – all notes, reviews, procedures, responses, and reports can be done within the original documents
• Maintain process document templates for any key organizational process that allow for one-click inclusion of all up-to-date risks

Strong Tracking and Reporting Capabilities

• Progress and results can be easily tracked in real time
• All relevant portions of a report are automatically sent to the relevant manager complete with due dates
• Ensures that all associated organizational risks are properly included as part of the planning and documentation of the process
• Ensures resolution of findings, deficiencies, etc.
• Simple tracking of response status
• Significant reduction in project completion time
• Confirmation/approval process for each section/parts
• Strong permissions model
• Full history, versioning, and audit trail
• Full search capabilities
• Control of users and permissions