One of the key requirements within IT is to ensure smooth data workflow and guarantee data consistency across applications. This is particularly true for the last mile of finance as the disclosure management application is being used at the end of the data-chain and consumes data from other sources of information within the company — consolidation applications, ERP systems, data warehouses, and a range of other information source applications. SAP® Disclosure Management, starter kit for IFRS (International Financial Reporting Standards) has been designed to streamline data workflow and maximize data consistency when used in combination with transactional and consolidation systems, in particular SAP® Planning and Consolidation and SAP® Financial Consolidation applications.
The starter kit embeds best-practices to automatically extract data from consolidation systems, transforming and merging that data, and delivering it to integrated data structures for analytic purposes. The starter kit leverages both the “integrated” and “bolt-on” data synchronization approaches to automate and secure connectivity and access to the consolidation system; therefore no manual data replication between applications is needed and data workflow is simplified. Moreover the starter kit contains a set of pre-defined validation gates to ensure data consistency within the SAP® Disclosure Management application itself: pre-defined controls for the data repository, validation dashboard consistency check of Microsoft Office and XBRL (eXtensible Business Reporting Language) data.