Finance

SCARF – Scalable Analytics and Reporting in Finance
Stringent regulatory compliance and enforcement in Finance industry have led companies investing more resources in accurate data collection and financial reporting. The world of banking and finance has always had a high degree of compliance to data-integrity standards. This high degree of compliance is required because each customer account (savings account, checking account, loans, and so forth) requires minute attention to detail. If so much as one transaction is not handled properly, the bank or financial institution or their customer base suffers. Therefore, banks and financial institutions have always had strict procedures and controls to ensure that funds are handled properly.

There are two aspects to financial transactions — the past and the present. Most implementations of Sarbanes Oxley concentrate on the current transactions in which the organization is engaged. This means that when a transaction occurs, it is subject to a series of audits. These “mini audits” ensure — up front — that the financial transaction is in compliance. So, there is the up-front financial audit and procedures that each transaction is subject to. Upon finishing the audit and procedures, the financial data eventually finds its way to the data warehouse.

Scalable Systems provides financial services including financial data integration, Master data management, financial dashboard, financial scorecards, budgeting, forecasting, financial analytics and reporting.

From simple excel based reporting to complex cube based analytics SCARF offers end to end solutions in financial reporting and analytics.

SCARF offers following services:

  Governance, Risk and Compliance Analytics:
     A properly functioning and documented governing framework can provide corporate
     leaders with an increased sense of security as they reflect on the efforts they are making
     toward managing compliance and risk issues. Governance can also provide reassurance
     to those outside of the company by demonstrating the organization’s capacity for
     understanding the need to manage risk and compliance issues as well as its ability to
     institute a functioning GRC system. The result can be measured in the strengthening of
     the company’s brand and reputation, which translates into stronger shareholder value.

  Reference / Master Data Management:
     MDM allows enterprises to be compliant with appropriate regulatory requirements
     including those defined by the Gramm-Leach-Bliley Act, the Sarbanes Oxley Act, the Basel
     II Accord, and many others. This compliance allows organizations to avoid costly penalties
     and bad publicity. Having a single authoritative system of record positions an enterprise to
     gradually sunset a number of legacy systems and applications and therefore realize
     significant cost savings.

  Financial Spreadsheet Modernization:
     Excel spreadsheet is most frequently used in financial industry as a simple data entry.
     However over a time period with increasing complex calculations and volume of excel
     sheets it becomes a headache to manage excel sheets. SCARF offers services to
     consolidate excel sheets, migration and integrate excel sheets with custom made
     applications or other industry leading applications which saves time and reduce
     operation costs.