An accounting problem that's all too common

Accounting managers and finance project owners are forced to deal with multiple or complex business models, business units, stakeholders, accounting standards, and regulations. Without a common language for modeling and documentation of accounting rules and schemes:
 

  • Specifications are unsystematically communicated in text documents, slide decks, spreadsheets – even by memory
  • There's no connection between initial data requirements and final parameterization of interpretation systems
  • Teams resort to using their own disparate data repositories and tools
  • Responding to regulatory constraints on tracing and versioning data transformation is highly laborious
  • The results are poor accuracy of existing documentation, difficulties in responding to auditor requests, process inefficiency, and non-compliance with mandatory regulations

Axway's response: a new modeling and documentation solution

Axway's new AFAH Modeling and Documentation of Accounting Rules and Methods solution improves knowledge and documentation management, project management, and transformation of accounting data interpretation.

Modeling

  • Automatically generated
  • Version managed
  • Parameters integrated with AFAH
  • Dataset generated for testing
  • Ability to reconcile specifications and technical settings

Documentation

  • Accounting schemes versioned
  • Workflow based on accounting methods status
  • Complete query and audit capabilities
  • All stakeholders share and maintain the same unique vision

Benefits you can expect

Documentation of accounting schemes
  • Unique document repository shared with every stakeholder
  • Documentation management ensures reusability and lifecycle management
  • Audit trail with status of each version of accounting methods
Gain confidence through process and workflow
  • Improved communication between stakeholders
  • Common concepts and vocabulary shared by everyone
  • Enhanced modeling and deployment processes
  • Secured modeling phase and time to deploy
High return on investment
  • Improved interactions between project owners and managers cuts project costs
  • Reduced dependency on IT teams
  • Accelerated testing with integrated dataset generation
  • Immediate documentation availability for reuse or auditing