Financial Accounting Trends

August 27, 2018

BUSINESS CHALLENGE  

 

Our Client is a national institution of Certified Public Accountants, and required a high level IT solution to collect and consolidate financial accounting data of over 600 companies and other financial entities for publication in their monthly journals. Prior to automating this process, our Client collected relevant data manually from various sources. They then manually input the data into a database. Lastly, their writers and editors manually accessed and processed the data to form tables, charts, and graphics in account trending reports.

 

Not only was this manual process costly, arduous, and inefficient, but the manual workflow was also prone to various human errors. Our Client needed a Custom IT Solution providing greater efficiency and accuracy – both of which could best be provided with an automated solution.

 

Specifically, our Client required a solution capable of:

  • Capturing, consolidating, and classifying financial data based on complex business rules

  • Determining magazine publication illustrations based on financial performance

  • Integrating API's with internal and external source databases

  • Generating accounting trending reports

PAMTEN’S SOLUTION

 

PamTen developed a high level application interface architecture driven by a backend that accounted for various business logic and rules and interfaced internal and external source databases with API's. This architecture consolidated financial data with ease and accuracy. In addition, PamTen's software solution, using its consolidated data, generated account trending reports and matching graphics. Throughout the course of the project, PamTen provided our Client with fundamental software expertise, high value, and maximum benefit with minimal project coordination.

 

BUSINESS BENEFITS

 

Increasing the efficiency and reducing errors in the publication workflow process enabled our client to produce highly detailed, comprehensive, and accurate publications. The improved efficiency resulted in an overall increase in productivity and reduced operating costs.

 

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