Accelerated Financial Reporting Manager
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Accelerated Financial Reporting Manager
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Management

Accelerated Financial Reporting Manager

The Accelerated Financial Reporting Management (AFRM®) Module is built on top of OnBase, a world class Enterprise Content Management System from Hyland Software, Inc.

AFRM® gives you the visibility needed to actively manage your close, assure completeness, improve communications. lower audit costs and continuously improve your close.

Real-time management of activities.

With AFRM® you see the real time status of every task in your close. No more waiting for each team member to update the checklist, or for a close meeting to get status updates. When a preparer sends a reconciliation for review, the system records that this reconciliation is now in review, automatically and in real time.

Want to see where where problems are developing? You can sort and filter tasks by a wide variety of criteria. Which tasks are behind schedule? Which preparers or reviewers have too many tasks? With the ability to see issues early, you can address them before they have a major impact on the close schedule. You can reassign tasks on the fly to keep the entire team on track.

Want to know the status of a specific task any time it changes? Just set an alert. You can get an email informing you that the task has been sent for review, sent for additional review, or posted. Alerts are completely configurable to your needs.

Easy access to all supporting documents and real time desk procedures

AFRM® is a task-centric system. One of AFRM®’s guiding principles is that all information needed to complete or audit any task is presented together with the task. When you start, review, or audit a task, everything you need is presented to you. Approved templates, desk procedures, supporting documents, as well as all supporting documents from prior periods are located with each task. You never have to worry about where to store documents or how to name them. They are stored automatically and locked down when you approve a task. You never look for a document. They are presented to you when and where you need them.

Dashboards provide a visual view of the close at three levels

User/Preparer view: AFRM® gives you complete visibility of the status of your tasks, as well as those of your peers. This provides each team member with the information needed to self manage and to cross manage the close, building teamwork and creating a sense of urgency.

Manager view: The manager view facilitates real-time management decisions. Where are the exceptions? Who is late, or in danger of becoming late? What activities are awaiting resolution? With real time information at your fingertips, you have actionable data to support decisions needed to gain maximum efficiency from each team member and ensure an effective close.

Executives gain an increased level of confidence in the status of the close, because what historically been a qualitative assessment of the close status is now supported by the underlying data.


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