Maintaining financial disclosure is a mandatory task for every company either big or small. On the other hand, creating and updating such financial reports is a hectic and time consuming process. Hence, the companies and organizations opt for various techniques to organize their disclosure. Microsoft office, being one of them, is the prominent yielding suite which is specifically designed to draft, collaborate and finalize the disclosures. It is a user friendly suite which provides complete convenience and ease of use environment for the users to generate financial reports. For this reason, most of the companies rely upon this suite.
With the continuous development in techniques, many new methods have been designed which are extremely relevant and advantageous for creating financial disclosures of the companies. One such latest method which has proved out to be useful for such purpose is Active Disclosure. This is the method which has a good compatibility with Microsoft office suite. This is an ideal alternative which implements ultimate features to perform its task.
The Concept
Active Disclosure is an innovative method which provides perfect environment for the creation of financial disclosures. The product is totally built around the Microsoft office productivity tools and comprises of many functions like author, review, tag, validate and file under one application. It is user friendly and needs just a small training to understand its function. The over all architecture provides a great support to the working strategies and offers various profits to the users.
An Overview Of The Features
To provide better financial reports to the companies, Active Disclosure is integrated with various features which co-relate together to perform the task. Take a look at some of the helpful features which include-
- Roll Forward-These are the templates which comprise of reusable reporting feature that can be rolled forward into each new period.
- Content Management- A lot of things like draft documents, format items, track changes and many more tasks can be done with the existing Word and Excel file of Microsoft office productivity tools.
- Workflow Management-The part of the documents can be divided among various teams and groups for continuous content creation and review. It consists of dashboard and audit trails which provide the functionality of project status and delivery of additional control respectively.
- Online Reviewer’s Guide-The feature allows checking the work, asking question and tag approval with ORG interface of ActiveDisclosure.
- Validate- This feature is mainly known for providing the much needed high quality XBRL.
- Autotag-After the specific taxonomy of company is loaded; this feature makes out the previously selected XBRL tags.
- ERP compatibility-This feature maintains the data integration between ERP and MS word and avoids the cutting and pasting of data.
These features are the power sources of Active Disclosure which enables it to be compatible with Microsoft office productive tools.
The Associated Benefits
No doubt, this product being implemented with spontaneous features provides a lot of benefits to the users. Some of such benefits are-
- More Convenience-Since the product is built around Microsoft Office, Active Disclosure uses the features of Word as well as Excel.
- Better Command-The effective feature of managing the team and the process, provides a better command to the users for generating their financial reports.
- Ultimate Support-The companies can get in contact with the service providers of the product whenever they find it difficult access any of its features.
- Incredible Speed-The integrated features and the tools enables ActiveDisclosure to perform its task at higher speed.
- Enhanced Security-This product has been designed with a high level of security feature provided in every layer of the application.
As such there are many other advantages which can be availed from Active Disclosure. These features and advantages make it as a proficient product for financial reporting solution of various companies.
Author’s Bio-
Christine is among one of the best entrepreneurs of his field. He is a potential analyst and likes to research on various commercial necessities, crucial for running the companies. He is currently researching upon various latest tools for financial reporting solution. Along with that he also likes to share his experience with other corporate and common people.