Bank project
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Due to regulatory requirements, the bank must prepare and publish extensive financial reports. Before publication, the financial reports are audited, usually by Big4 companies. Previously, financial reports were created through an arduous manual process using data from the ERP system. The initial report preparation took about 15 days and involved the risk of late submission and human errors. Moreover, if during the audit process there were changes to be made it required even more extensive labor to implement.
Business Case
Automated financial report generation: We compiled the data from various sources and generated over 33 reports and their components automatically, saving countless man hours. These reports included Statements of Financial Position, Profit and Loss Statements, Loans and funds from banks and other financial institutions, Debt securities, etc.
What we did
How it helped
Formation method:
2-3 days
Risks reduction:
Ontime submission, no errors
Late submission of reports, manual errors
Risks reduction:
15 days
Formation method:
Technologies that we used
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