Tech-enabled consulting company Uniqus has unveiled a cloud-based technology platform, dubbed Reporting UniVerse, designed to automate the preparation of financial statements.
The new platform aims to simplify financial reporting processes.
According to Uniqus, the preparation of financial statements demands consistency and reliability in keeping data. Requirements and regulations for financial reporting differ across jurisdictions.
Reporting UniVerse addresses the challenges by providing automated solution that reduces inefficiencies and minimises the risk of errors. It offers a board-ready set of financial statements and other sections of the annual report in user-friendly manner.
The platform integrates strong accounting and reporting domain capabilities and an innovative generative artificial intelligence (AI)-based knowledge repository.
The generative AI capabilities also allows users to leverage smart search functions and disclosure benchmarking tools for research and comparative analysis.
By leveraging technology, Reporting UniVerse is expected to streamline the financial reporting process as well as achieve a fast, quality close.
Equipped with automation tools, dynamic linking, and real-time ERP integration, it establishes a “single source of truth” for financial data. The platform also allows audit-ready financial reporting while eliminating manual errors.
Additional features such as validation dashboards and automated error prevention tools simplify the financial statement closing process.
Besides, users of Reporting UniVerse will be able to review source data, track changes through audit logs and version control, and easily collaborate with auditors through secure, read-only access.
Uniqus co-founder and CEO Jamil Khatri said: “Reporting UniVerse embodies our commitment to leveraging technology and building a CFO Tech stack for the benefit of our clients.
“By combining our strong financial reporting capabilities and the power of emerging technologies, including AI, we have been able to create a product that understands the practical problems faced by the finance organisation, and solves them.”
