The Final Mile
The "Final Mile" of financial reporting is a term popularised by analysts to describe the processes and activities that are undertaken between financial consolidation and the presentation and disclosure of the results to internal and external stakeholders and regulators. Typically it combines formal reports with other data such as narrative and supplementary documents managed in MS Word, PowerPoint and Excel.
The Final Mile tends to involve numerous personnel as reports are collated, narrative added and final approval given. Reports are generated and distributed in a variety of formats, and sliced up according to the recipients' area of responsibility. Regulatory reports may be generated as iXBRL, from the same report sources. This is inevitably a time-consuming process and one in which there is a real risk of inconsistency creeping in.
By introducing a formal tool to support the Final Mile, businesses can increase finance team productivity, accelerate the close, and have absolute confidence in the reports.
PRODUCT INFORMATION: COGNOS DISCLOSURE MANAGEMENT
DOWNLOAD THE DATASHEET: COGNOS DISCLOSURE MANAGEMENT