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IBM Cognos Disclosure Management
IBM Cognos Disclosure Management is a relative innovative new type of reporting solution that assists in the creation of statements and (annual) investor relations reports. It is completely complementary with the existing IBM Cognos portfolio. It is IBMs offering in a new software category also referred to as Financial Disclosure Management and is very complementary to Corporate Performance Management, as it completes "the last mile" in internal and external reporting.
IBM Cognos Disclosure Management is positioned as a state-of-the-art Financial Reporting and Governance solution, and is supposed to be part of IBMs answer to complete the Cognos Performance management solutions with GRC (Governance, Compliance & Risk)-functionalities, as the CPM, BI & GRC markets & solutions are converging. Another recent IBM acquisition, OpenPages should also be seen as part of this strategy.
IBM Cognos Disclosure Management is used to collect data from different sources and to maintain connection with those sources so the data can be updated at any time. So the preparation of financial documents will become a smooth process within a controlled environment. Originally IBM Cognos Disclosure Management was created to improve financial reporting processes in the final stages before disclosure; however the tool can easily be used to create management reporting as well.
IBM Cognos Disclosure Management has the functionality to support the following:
- improving the timelines and quality of the financial reporting
- increasing controls by workflow, audit trail and business rules
- eliminating manual errors and streamlining the process of building and editing reports and approving the comments and numbers
- exporting the created document in a number of different ways, even with XBRL tagging.
IBM Cognos Disclosure Management main functionalities in building Financial Statement reports includes :
- linking Source Data to Report Data
- using prior reports as a template
- powerful built-in XBRL functionality
- internal control
- audit trail
- rounding functionality & control
- business rules
- linking Quarterly & Annual Report Information.
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