Save time and money while simplifying reconciliations to fulfill audit requirements.
Answer Factory's UniversalRecon software provides evidence that the metadata as well as the data from your source systems correctly flow into the Workiva platform.
While kick-out reports and record counts are a good first step, they are not all encompassing and could leave your organization exposed. If somebody adds an account in the ERP feeder system, it impacts the parent/child detail for the consolidated amount within the Workiva platform. This can easily impact the accuracy of your SEC, SOX, ESG, or management reporting. Manual reconciliation processes cannot easily nor automatically detect these inaccuracies, but UniversalRecon can.
Here are more ways where Answer Factory can help:
- We identify mapping inefficiencies and Contra Account logic issues that impact the Workiva platform
- We detect changes in historical data that can happen without notification
- We detect metadata issues like properly defining account types (i.e., Assets / Liabilities) before they get to the Workiva platform
- We see name changes that make data disappear
- We make sure dimension validation assumptions and account roll-up validations are set
- We identify new accounts in source systems like NetSuite, Oracle, SAP, and others that impact the feeder sheets in the Workiva platform
Once you try UniversalRecon, you will never manually reconcile data ever again!