Thomson Reuters announces further strategic enhancements to its Accelus Disclosure Solutions PROFILE software, a next generation workflow solution that enables publicly-held organisations to more accurately prepare, update and deliver their financial disclosures to the U.S. Securities and Exchange Commission (SEC).
Accelus Disclosure Solutions PROFILE provides enhanced functionality offering a flexible working environment that can be fully embedded into the firm’s workflow and substantially reduces the time and effort required by firms to generate accurate filings with the SEC.
The software enhances, rather than replaces, the firm’s existing word processing and spreadsheet collaboration practices. The software is supported with best practice XBRL consulting and filing services with an expert team of qualified CPAs and accountants to assist organisations with the process of accurately preparing and filing their disclosures.
Accelus Disclosure Solutions PROFILE simplifies the in-house management of financial disclosures by allowing data from previous filing periods to be rolled forward from filing period to filing period. This eliminates the need to re-do work already completed for previous XBRL filings and automates the update of dynamic “current period” contexts from filing to filing.
Through greater compatibility with Microsoft Word and Excel, documents can be imported into, and exported from, Accelus Disclosure Solutions PROFILE while preserving linked placeholders to XBRL and non-XBRL source values throughout multiple document revision cycles. This allows organizations to manage their filing process using workflows and applications that they are already familiar with rather than adopting new ones.
This next-generation software release also evolves the collaborative actions that can be taken around financial disclosures, allowing financial reporting teams to maintain a single version of the truth and reduce concern about consistency between versions.
Disclosure documents can be outlined into segments and content groups and distributed to the appropriate financial and legal teams within or outside of the corporation. Through Accelus Disclosure Solutions PROSHARE, a 24x7 customizable and secure document repository and exchange web application, disclosures can be version controlled and shared with Disclosure Solutions’ team of expert Customer First Advisors, as well as among members of the business’ own internal financial reporting team.
“Organisations globally are facing new challenges in order to meet their XBRL and disclosure transparency requirements,” said Andrew Neblett, managing director, Enterprise Risk Management, Governance, Risk & Compliance, Thomson Reuters. “These latest enhancements mark the evolution of Accelus Disclosure Solutions to support the heightened compliance needs of organisations required to file increasingly detailed XBRL reports with the SEC.”