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Success Story: Custom Financial Reporting Automation.

Customer

International banking and financial services provider

Overview

The Global Financial Services Industry is complex—with regulatory requirements constantly changing and varying from country to country. Designing systems for quick decision making, operational efficiency, accurate accounting and regulatory compliance creates a complex environment for application development.

Business Challenge

Lacking clear and accurate reporting capabilities, this project was a high priority on our client’s list as penalties for inaccurate financial statements or late filing can be extremely expensive. Managing data from a large number of independent mutual funds required careful consolidation and enhanced reporting.

 

Solution

Working with the client we built a platform designed to automate complex reporting and eliminate numerous time consuming processes. A rich web user interface was used to create an interactive report builder, data interpreter, data sorter and handle other data preparation and presentation tasks. The user-friendly interface allowed employees to adapt easily without a learning curve—saving a significant amount of money.
Basic system functionality was established shortly after starting the project and sustained throughout the development process without any interruptions. Report templates enabled several hundred non-technical business users to easily prepare complex reports and produce consolidated financial statements faster and more efficiently. 

Benefits

  • Full automation of the reporting process
  • Reduction of human errors
  • Flat learning curve
  • Increased compliance
  • High flexibility and user adaptability

Solutions Used

  • Platform migration and re-engineering
  • Application integration and customization
  • Integrated system testing

Technologies used

  • Oracle Data Warehouse
  • Web Services (Apache CXF)
  • Java 6
  • Reporting (BIRT BI Platform)
  • Rich web UI (JSF, RichFaces, Ajax)
  • Messaging (JMS)
  • Repository (JCR)
  • RMI, Seam, Spring

Contact us to learn more about our financial reporting automation solutions.

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