The Challenge
Many finance departments are facing hours of manual accounting processes each month. Siloed departments, disparate data sources and clunky, legacy systems make regular reporting a long and arduous task. Throw new and existing complex regulations into the mix and you have a team that is spending all of their time looking backwards.
Technology, business models and customer expectations are changing. Most companies now have new digital front-ends, mobile apps, and omni-channel services, built for differentiated customer experience. Artificial Intelligence, Machine Learning, Blockchain and cloud are becoming part of every boardroom agenda. Finance departments that don’t modernize are at risk of being left behind.
The Aptitude Accounting Hub provides complete financial control of accounting process and reporting, enabling the agility to serve fast-moving global businesses, and exploit data to deliver value through business insight. It allows the finance team to take a leading role in driving the commercial performance of the business. It equips them for the Digital Finance Future.
Aptitude Accounting Hub enables enterprise finance teams to;
- Gain control – Absolute financial control of accounting rules and processes. Financial reporting and forecasting with confidence.
- Be agile – Account continuously, speed financial close, adopt new business models and easily integrate M&A.
- Exploit data – Unlock value of finance data to provide actionable insights to the business
What does the Aptitude Accounting Hub do?
- Consolidates and simplifies complex finance architectures
- Creates a single view of finance
- Enables complete real-time visibility and accurate, fast reporting
- Handles vast amounts of structured and unstructured data from multiple sources
- Creates a standardised and enriched, granular data foundation for analytics
- Reduces the cost and time of compliance and finance transformation projects
- Generates multi-GAAP accounting, based on a single inbound event
- Vastly reduces reconciliation effort
It has a thick 2-way subledger, and pre-integrated calculation engines for complex IFRS and US GAAP regulatory reporting. It handles all operational and regulatory reporting in one place. Saving effort and freeing up time for more value-add activity such as innovation.
Benefits
Aptitude Accounting Hub customers have seen benefits such as;
- Vastly simplified accounting
- Reduced time to close
- Reduction in reliance on IT
- Automated finance reporting processes from source to post – eliminating time-consuming manual tasks and
- Resources freed up to focus on innovation/value added tasks
The Hub:
- enables cloud GL and ERP migration
- creates a data foundation for analytics and AI
- can reduce the risk and cost of `financial transformation projects significantly
The hub provides the agility to easily integrate future mergers and acquisitions, apply new regulatory standards and move to new business models, quickly. With your finance data foundation in place – making business decisions becomes easier and quicker, with more accurate forecasting and predictive analytics. Finance teams become a valuable source of information and insights to drive the commercial success of the business.
