Reporting UniVerse
Technology solution for your financial reporting requirements
Reporting UniVerse Features
Structured approach to Financial Reporting
Reporting UniVerse enables entities to automate financial statement preparation through a process-driven approach that emphasizes on efficiency, enabling control, and reducing errors that may arise in a manual process.
Period close adjustments
Period-end adjustments, including reclassifications, can be made directly in the Reporting UniVerse platform along with the relevant supporting information. These can easily be replicated in the organization’s ERP systems.
Interconnectedness
The Dynamic Linking feature supports updating of connected disclosures across all relevant sections of the annual report.
Reporting UniVerse also has the ability to integrate both Primary and Secondary inputs with real-time data from an organization’s ERP systems.
Single source of truth
Establishing a ‘single source of truth’ through Dynamic Linking ensures ease of ongoing updates and monitoring of subsequent changes seamlessly across financial statements through the audit trail function.
Automated workflow-based approvals
The platform’s Role Based Access Systems permits allocation of tasks to various stakeholders for an efficient process. The workflow mechanism helps monitor progress and also ensures that approvals are required for processing important inputs and changes.
Ability to scrutinize the source data
A structured approach to financial reporting allows users to review the source data for any disclosure or schedule in the financial statements.
Audit logs and version control
Audit logs, along with version control, keep track of changes that have been made to the trial balance, adjustment entries recorded, and even secondary inputs uploaded to Reporting UniVerse.
Making the Audit Process efficient
Auditors can also be granted separate read-only access to Reporting UniVerse. This allows independent review of the financial statements, thereby freeing up management bandwidth.
Template Library
Reporting UniVerse enables users to leverage and replicate existing financial statement formats and to efficiently build a complete set.
Validation Dashboards
Validation Dashboards ensure that the numerical values presented in the financial statements are cross-verified before finalization. While the platform has in-built validation checks, users can also build customized validation checks. Further, the rounding-off and automated casting features ensures that there are no casting errors in the financial statements.
Board-Ready output
Reporting UniVerse enables the user to export high-quality financials that are ready for review, approval, and finalization by appropriate stakeholders.
XBRL Integration
Reporting UniVerse provides assisted services where financials prepared on the platform can be easily converted into XBRL or iXBRL format.
Roll forward
Reporting UniVerse allows the user to roll forward financial statements for the next reporting period at the click of a button, leveraging the structure from the prior year.
GenAI capabilities
The platform has an AI-enabled smart search engine that allows users to research accounting and reporting matters. Further, it offers capabilities such as Disclosure Benchmarking to compare information available on competition and other companies.
Reporting UniVerse Modules
Reporting UniVerse’s set up through five key steps and its key features that support users in the financial reporting process:
- Manage multiple entities
- Supports multiple Reporting frameworks
- Role based access controls
- Audit Trail
- Ready to use Template Library
- Gen AI features for benchmarking
- Input period end adjustments
- Automation through ERP connectors
- Prepare notes through Secondary Inputs
- Use Validation Dashboards
- Dynamic Linking for a single-source of truth
- Drill down linkages to source
- Roll-forward to subsequent periods
- Intuitive and easy to use features
- Automated Casting
- Rounding-off numbers
- Automated note numbering
- Board-ready financial output in multiple formats
- XBRL capabilities
Why Reporting UniVerse?
Efficient and Accurate Preparation Process
Automation through features such as Template Library, Dynamic Linking, Automated Casting, ERP Connectors, Roll-forward help in increasing productivity.
Supervision & Data Control
Role Based Access on the platform provides a workflow-based approval mechanism. Further, the Audit Trail feature and Validation Dashboards help automate manual checks and enable tracking of changes made.
Collaboration
Ability of the platform to permit multiple users to work simultaneously enables fast closure of the financial reporting process.
Easy to use, Intuitive Interface
The platform has an intuitive user interface designed to simplify interactions and enhance user experience.
GenAI Capabilities
The platform provides access to a one-of-a-kind inhouse generative AI chatbot, which enables the user to research accounting matters and benchmark disclosures.
Periodic Updates
Reporting UniVerse is designed using the deep domain knowledge and experience that Uniqus has around both financial reporting and technology. The platform will be updated periodically for changes in reporting requirements.
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