Disclosure Management

Disclosure management comprises processes and technologies that support companies in the creation, management, review and disclosure of financial and non-financial information. This is usually done in the context of financial reporting and compliance. For this reason, companies that are listed on stock exchanges or subject to certain regulatory requirements (e.g. ESEF, CSRD) in particular use corresponding disclosure management systems.
1 End-to-end perspective Data flow of financial and non-financial information

Main functions of a disclosure management system

The software enables the integration of data from various sources, such as accounting systems, ERP (Enterprise Resource Planning) and other relevant systems.

A Disclosure Management System automates the process of data collection and consolidation, which reduces the risk of errors and reduces the workload.

Team members can work on different parts of a report at the same time. This promotes collaboration and speeds up the reporting cycle.

The system enables versioning of reports and provides a detailed audit trail to track who made what changes.

There are often predefined workflows to ensure that the necessary approvals and checks are carried out before a report is published.

A disclosure management system helps companies to ensure compliance with accounting standards and other regulatory requirements.

The software often offers functions for formatting reports according to regulatory standards or individual user design ideas.

Access to sensitive financial information is controlled and secured to prevent unauthorized access.

Advantages of a Disclosure Management System

The introduction of a Disclosure Management System offers companies various advantages:

Increased efficiency

By automating and integrating various data sources, the process of reporting and disclosure is accelerated, resulting in time savings.

Error reduction

Automated data collection and consolidation minimizes human errors that can occur in manual processes. This improves the accuracy of financial reports.

Collaboration and teamwork

The ability for multiple team members to collaborate simultaneously promotes teamwork and speeds up the entire reporting cycle.

Transparency and auditability

Versioning and audit trails provide transparency on who made which changes. This is crucial for traceability and facilitates internal and external audits.

Compliance

A Disclosure Management System supports companies in ensuring compliance with accounting standards and regulatory requirements. This is particularly important for listed companies and those that have to comply with certain reporting standards.

Security

Through access controls and security measures, the system ensures that sensitive financial data is protected and only made accessible to authorized persons.

Reusability of data

Some systems allow data to be reused for different reporting purposes, further increasing efficiency.

Better report quality

Data formatting and validation features improve the quality of the reports produced and minimize errors that can occur due to incorrect formatting.

Flexibility

Some systems offer a high degree of customizability to adapt to changing regulations and requirements.

Microsoft Office integration

Disclosure management systems integrate seamlessly with Microsoft Office, making it easy to create reports in familiar environments such as Excel and Word.

Reducing workload

Disclosure management systems reduce the workload of employees, reduce frustratingly repetitive tasks and enable efficient reporting, leading to increased employee satisfaction and retention.
Overall, a Disclosure Management System enables companies to optimize their reporting processes, improve the accuracy of financial data and ensure regulatory compliance.
2. automation and standardization in the reporting process

Your added value through the CFGI

Together with our experts, we optimize your disclosure management. You receive the following added value from our Disclosure Management Support:

Our specialist support helps you to understand the specific requirements and processes of your company. An experienced expert analyzes current reporting and disclosure practices and suggests suitable adjustments for the integration of a Disclosure Management System.

We configure your Disclosure Management System to meet your specific business requirements. This includes the definition of workflows, integration with other business systems and consideration of compliance requirements.

Our training for your employees ensures that they can use the system effectively. This facilitates acceptance of the Disclosure Management System within the company and improves efficiency.

From numerous disclosure management projects, we can recommend best practices and industry standards to maximize the effectiveness of a disclosure management system. This can help avoid potential mistakes and optimize implementation.

During the implementation phase and beyond, we help identify and resolve issues. This helps to minimize downtime and ensure smooth operation of the Disclosure Management System.

Technology is constantly evolving and our specialist support can ensure that the Disclosure Management System remains up to date. This includes regular updates and upgrades to incorporate new features and security enhancements.

Our support helps to identify and manage potential risks associated with the implementation and use of the Disclosure Management System. This also includes data security and compliance measures.

A specialist contact person is not only important during the implementation phase, but also in the long term. We help to continuously optimize the Disclosure Management System to meet the changing requirements of the company.

We have experience with the most successful and popular tools on the market. As an independent consultancy, we will find your best fit among our software partners or beyond. You can find an overview of our software partners here.

 

We are an interdisciplinary team and can support you in all aspects of your reporting process on request. Find out more about our Closing Excellence approach.

If you have any questions, please contact our specialists at any time!
Contact us
Verena Petzi
Manager
vpetzi@cfgi.com
contact
chevron-down