Driving Improvements in Record-to-Report via Statutory Reporting

Statutory reporting plays a crucial role in ensuring compliance for organisations, but is still often overlooked when it comes to improvement initiatives. With many organisations still relying on spreadsheets, manual data collection and processing is a big drain on resources and opens the enterprise up to greater risk.

Ineffective or inefficient statutory reporting has consequences ranging from financial penalties to reputational damage.

This research points out that the perception of risk is holding organisations back from moving work to centralised Centres of Expertise or Shared Services, which are proven vehicles for this kind of activity. In addition, while automated technology is driving sweeping changes across many operations, segments of the record-to-report process are lagging, with costly consequences.