When it comes to financial reporting and compliance, the upgrade from IBM Financial Statement Reporting (FSR) to IBM Cognos Disclosure Management (CDM), was one of the main topics of discussion at IBM’s Vision 2013 conference last month in Orlando.  By reducing operational risk through the automation of controls within management’s reporting process, these software suites enable a company to efficiently handle their quarterly (10-Q) and annual (10-K) reporting to the United States Securities and Exchange Commission.  Learn about Clarity to cognos disclosure management below.

Details on the Cognos Disclosure Management Upgrade

The upgrade to IBM Cognos Disclosure Management combines the best of both the automation of IBM FSR and reporting of business intelligence (BI).  CDM merges both into a scalable, enterprise wide solution that enables users to create qualitative analysis from their data sources (which can be relational, OLAP, Microsoft Excel, or Hyperion Financial Management), along with integrated external XBRL tagging, with more users than IBM FSR, and an audit trail.  In doing so, CDM reduces operational risk across the board, creating an accurate real-time data source and enabling the Department of Finance to consistently produce a “single version of the truth”.

As an added bonus, existing licensed IBM FSR users are able to trade up to IBM Cognos Disclosure Management, forgoing the purchase of a whole new license.  Lodestar Solutions would be more than happy to provide you more information on trading up so feel free to contact us at Sales@LodestarSolutions.com.