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BIS Finance Control Management


Corporate Performance Management Suite
Enterprise Risk Management Suite
Finance Management Suite
Business Process Management Suite
Reference Data Management Suite
Trading Operations Suite
  • Accounting Engine

    For any financial institution engaged in trading, remaining in control of its assets and cash is fundamental to successful and efficient operations of its business. Accurate capture of transactions, maintaining uniform standard for accounting rules across the organization and providing accounting transparency across multiple source system becomes a mammoth task for institutions. Every source system generates its own set of events due to which standardization becomes difficult to achieve. Existing systems have embedded accounting systems which have no CofA and no balance calculations. No single system tracks entire lifecycle of a financial instrument. Reconciliation of internal records with external entities, maintaining P&L position, and complying with directives from regulatory authorities pose a further challenge.

    BIS Accounting Engine (AE) is a fully integrated suite which enables an organization to integrate multiple front office system with back office system enforcing one standardised set of accounting rules. Our drilldown features from summarised aggregate balances to underlying details make reconciliation easy and auditing transparent. With minimizing human intervention and errors to a great extent, AE aims to achieve single point of control over accounting thereby making organization wide compliance to regulatory directives easy to implement.


  • Close Optimization

    Organizations that lack sufficient time for value-added activities often exhibit signs such as requiring more than five days to close the books, using a spreadsheet-based financial consolidation process, needing many manual journal entries or other manual activities to close the books, lack of capacity to analyze business drivers and identify root causes, and a current or recent merger, acquisition, spin-off or sale.

    BIS's Finance Process Optimization & Integration Suite can help companies shrink transaction processing costs up to 30 percent, reduce error rates by up to 90 percent and compress cycle times by up to 70 percent. With our help, our clients have been able achieve these benefits through targeted process improvement, creating shared services and outsourcing non-core transactions where appropriate.

    We help clients implement standardization across business unit functions in processing information, submitting local ledgers and posting closing entries in order to lower exception rates and the level of rework needed. Our Finance Process Optimization & Integration team develops a chart of accounting and reporting structures to facilitate capturing and reporting of appropriate information for all stakeholders, which enables the organization to meet management's demand for analytical information without a high level of extra effort


  • Financial Consolidation

    BIS’s Financial Consolidation offering is part of a proven, Finance Control Management  solution that includes applications for strategic management, planning and budgeting, forecasting, financial reporting and Business Specific Analytic. BIS’s financial consolidation capabilities and cash management software supports:

    • Simplified Data Integration—use BIS’s industry-standard technology to simplify data collection and movement from multiple charts of accounts, general ledgers, and ERP systems.
    • Workflow Management—monitor participation, ensure compliance, and avoid bottlenecks that can slow the planning and budgeting process.
    • Built-in Calculations and Financial Intelligence—eliminate the potential for errors and reduce time spent on repetitive manual processes with BIS’s multicurrency capabilities, automated calculations and adjustments, and other features that address accounting and regulatory issues.
    • Flexible Business Modeling—modify the central application settings and let the system replicate those changes at all levels of the application to accommodate mergers, acquisitions, reorganizations, and other changes.
    • Insightful Analytics—receive instant access to all important business indicators to better understand the true nature of organizational performance.


  • Finance Transformation

    Finance organizations are under pressure to adapt to a changing business environment. Technological advances are creating opportunities to improve service levels and reduce costs, but are also creating an environment of constant change and adjustment. 
    At BIS, we assist CFOs in the following areas

    • Financial Strategy - focuses on the impact of financial and operational drivers on shareholder value, thus helping companies manage their assets and better allocate capital to those initiatives that will create most value.
    • Performance Management – enables internal users of financial and operational information to extract new, relevant, and timely insight from corporate financial and operational systems.  
    • Transaction Processing solutions transform financial processes across an organization to improve efficiency and service levels.

     

  • IAS/IFRS Reporting

    Finance departments worldwide face continuous pressure to deliver efficient and accurate financial and regulatory reports as well as support the appropriate systems and processes to drive better performance. Many departments are challenged by a lengthy, or inefficient, close process with multiple manual steps and checkpoints. For these departments, collecting and verifying data is challenging, as is processing consolidations such as minority interest, currency, multiple GAAP and regulatory reports. Financial statements are delivered just in time, with little time available for analysis or review. These issues are particularly challenging for European Union countries where legislation such as the Transparency Directive, is driving the acceleration in reporting timeframes and demanding increased certification of final results. This puts enormous pressure on systems to support these requirements.

    BIS' IFRS Reporting Solution helps customers address the challenge of facilitating continuous performance improvement practices while efficiently meeting the demands of compliance and external reporting under International Financial Reporting Standards (IFRS). The solution is specifically designed to support organizations that are required report under IFRS guidelines, and provides a financial consolidation foundation system to support additional regulatory and management reporting. To help you meet the challenges of transition to International Financial Reporting Standards, we offer a business-based approach. We work with you to understand the technical accounting complexity of adopting IFRS and update your reporting process accordingly. We also help you to identify and manage any broader impacts to your business.

 

  • Management Reporting

    In today's organizations, a vast amount of important security and compliance data is stored within multiple applications, making it very difficult and time
    consuming to correlate and analyze this valuable information, and because management applications are forced to purge data regularly to accommodate for volume and performance concerns, trending and analysis of data over time is almost impossible. By bringing it all together, organizations will improve
    compliance reporting and speed troubleshooting with historical analysis and
    trending.

    BIS' Management Reporting Suite helps clients generate enterprise reports for all stakeholders in browser-based, Web-formats. Most users want to do more than view enterprise reports — they want to interact with them, drilling down for more detail, manipulating numbers to answer vital questions and performing ad-hoc analysis of live data. We deliver reports with flexible navigation, data drilling, hyperlinking and SmartSearch capabilities your demanding end-user community requires. Flexible drilling options allow users to get detailed or summary data on-demand.Reports can be scheduled to run and distributed via email per your calendar and recipient requirements.

    Our Solutions helps organizations grow revenues more quickly, predictably and profitably by improving the operating performance of the organization, enabling it to make more accurate forecasts, better manage resource decisions and improve force productivity.

 

  • Regulatory and Statuary Reporting

    BIS is the premier provider of regulatory reporting software solutions to the financial industry. Our Regulatory Reporting Suite (RRS) is a complete system addressing the large position regulatory disclosure needs of global institutional investors. Many institutional investors still rely on largely manual methods of compiling, reviewing and filing position disclosure reports. For many firms, frequent organizational re-alignments and the increasing globalization of investment strategies has made traditional reporting operations unwieldy and error prone. In addition, global marketplaces are frequently redefining position disclosure requirements using country specific holdings thresholds and varying reporting frequencies thus increasing the burdens on compliance departments. Our RRS streamlines the regulatory position disclosure process while vastly improving the accuracy and timeliness of such reporting.

    RRS delivers an integrated facility that manages the compliance process surrounding the capture, aggregation, testing and review of position information and generates complete regulatory documents ready for submission. RRS is a highly extensible product engineered to address new jurisdictions, solve evolving reporting requirements and support ad hoc data mining. BIS plans to aggressively incorporate additional jurisdictions into RRS to maintain its posture as the pre-eminent producer of global regulatory reporting solutions.

     

     

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