Decision Inc. has partnered with Certent, a provider of software and services for equity compensation and financial disclosure management and reporting, to enable the global leader in information-driven transformation to further strengthen its financial planning and analysis (FP&A) value proposition for organisations looking to improve their compliance levels.
Certent serves more than 2 400 public, private, and pre-IPO companies with innovative stock plan management, regulatory compliance, and reporting technology. It has five global offices to provide decision-makers with confidence across their mission-critical finance and HR processes.
The Certent disclosure management (CDM) solutions enable companies to create the reports they need while improving governance and reducing risk, costs and data inaccuracies across the finance team. Using this solution, organisations can create recurring, multi-author reports that merge enterprise data with focused narrative analysis in a controlled, auditable environment, enabling them to meet an ever-increasing array of external and internal reporting requirements with speed, accuracy and confidence.
“CDM is a secure, collaborative, enterprise-scalable reporting and process automation solution that automates the collection of all data in a single, dynamic reporting and analysis offering. This enables multiple participants in different departments to collaborate in the assembly of complex reports, while working independently and ensuring that proper controls and approvals are in place,” says Nicholas Bell, CEO of Decision Inc.
Most importantly, the CDM solution enables South African companies to be iXBRL (inline Extensible Business Reporting Language) compliant. With the Companies and Intellectual Property Commission (CIPC) embracing international best practice around reporting, it mandated this digital reporting system for all qualifying organisations last year.
“This support addresses one of the most relevant issues companies are facing today. Using CDM will make it significantly easier for them to be compliant and ensure the preparation, analysis and communication of annual financial statements are simplified.”
Furthermore, CDM allows organisations to:
- Reduce risk;
- Improve productivity;
- Produce all complex documents in the most appropriate output technology in a single environment;
- Comply with the mandates of regulatory authorities;
- Offer a platform for Generally Accepted Accounting Principles (GAAP) to International Financial Reporting Standards (IFRS) conversion; and
- Integrate with external data sources.
“The financial reporting environment is complex and continually evolving. Organisations, irrespective of their size and industry sector, can ill afford not to be compliant or risk significant financial penalties and reputational damage. This partnership with CDM is about providing financial and regulatory reporting services in the most effective and technologically sophisticated way possible.”
Through this partnership, Decision Inc. is further strengthening its FP&A division with innovative technologies that combine data analysis with human insight.
“Decision Inc. deals with the full information value chain for clients looking for FP&A solutions. There are not many solutions available in the market today that support local taxonomies approved by CIPC, while allowing organisations to comply to the increasing regulatory and reporting requirements. CDM is a market leader in this space and very user-friendly. It complements the existing Decision Inc. solution suite and ticks all the strategic boxes we need,” says Bell.
For Certent, the partnership lets them work closely with a local partner that also has an international footprint.
Lorraine Venter, sales director for Africa at Certent, says having trusted partners is critical to delivering complete customer success. “We are pleased that we have taken our relationship with Decision Inc. to the next level and are looking forward to growing our South African footprint with them.
“We wanted to expand our offering to work with an organisation like Decision Inc. which uses next-generation technology such as Adaptive Insights. Because the CDM solution is developed around an open standards approach, it operates independently from the technology it sources information from, making the integration with their systems an easy process,” she says.