ifrs 9 solutions


In the wake of the 2008 financial crisis, IFRS 9 was developed to improve disclosures for increased financial transparency. The new standard lends certainty where there was no certainty before. It requires a forward looking approach to disclosures of amounts, timing and future cash flows with a focus on classification and measurement, impairment and hedge accounting.


Tagetik’s IFRS 9 solution allows you to address requirements including data storage, calculations, posting, reporting and disclosure right out of the box. The solution is built to address IFRS 9 requirements and can easily adapt to address other reporting requirements without a disrupting existing finance processes. How? See our IFRS 9 capabilities below.

IFRS4 Software

ifrs 9 key capabilities include

  

Powerful IFRS 9 Engine

The solution kick starts IFRS 9 compliance with pre-packaged calculations to determine the impairment of financial instruments following the IASB guidance. The solution allows users to classify financial instruments including Amortized Cost (AC), Fair Value through Other Comprehensive Income (FVOCI) and through P&L (FVPL). It enables users to calculate 12 month or lifetime Expected Credit Losses (ECL) at the instrument level and produce other IFRS 9 reports. These include comparisons to IAS39 and Solvency II. To comply with both IFRS 9 and IFRS 7 disclosure requirements, users get the reporting capabilities that allow them to create general reports and the ability to conduct more detailed analysis of each specific item.

 

Pre-Built & Configurable

IFRS 9 requires specific and unique disclosures. Our IFRS 9 starter kit is preconfigured for compliance with these needs. It is also easily configured to meet non-standardized requirements without the need for programming or IT support.

 

Calculate & Integrate

Following a modular approach, our IFRS 9 solution may perform IFRS 9 specific calculations within its scope, or import data from existing systems (i.e. classification, risk data, etc.). Either way, the loading and verification of data from other sources, like instrument registries or credit risk systems, can be automated and managed by the finance organization. Within the classification phase, our IFRS 9 solution has a very complete, flexible and high performing SPPI test engine, as well as a sound and intuitive approach to stage allocation and stage transfer of financial instruments. The measurement phase determines impairment by calculating 12 month or lifetime Expected Credit Losses (ECL). Where needed, Tagetik enables users to calculate EIR and CAEIR, in order to determine an IFRS plan, complete with all the elementary items (i.e. interests, deferrals, accruals).

 

Financial Information Data Mart

The solution creates a financial information data mart for IFRS 9 and other reporting requirements from one source. Pre-configured analysis leveraging Qlik Sense is available. Any other BI tool can be integrated so users can access the information they need for further analysis and visualizations of the lifetime of each figure. Using Tagetik, users can easily aggregate to the account level and automate loading to the general ledger or subledger.

 

Reduce Risk & Redundancy

Our IFRS 9 solution was created to handle large amounts of data and made to fit, coexist, supplement and integrate with existing applications. The IFRS 9 solution is non-disruptive to existing architectures - it integrates with all your systems, including Tagetik applications for Solvency II and the Collaborative Office, and non-Tagetik applications, on premises or on the cloud.

 

Granularity & Transparency

IFRS 9 demands more granularity and transparency in disclosures - which means you must demand it too! Just like in all Tagetik offerings, our IFRS 9 solution has an audit trail that captures the full lifecycle of calculations, transformations and data flows. In addition, a built-in workflow allows administrators to see the progress of contributors and activities to circumvent and solve bottlenecks before they happen.

Tagetik's ifrs Software is trusted by leading companies across several industries


Laing O'Rourke

IFRS Reporting, Consolidation, Tax Reporting, Monthly Reporting

Watch the video

Generali

IFRS Consolidation, Solvency II, MVBS, BPF, IVASS

Watch the video

Greiner Holding

IFRS Consolidation, Budget & Planning of the Group, Cash Flow

Allianz

IFRS Consolidation, Consolidation, CDM, Solvency II, IVASS Reporting

Sealord

IFRS Reporting, Monthly Management Consolidation, Statutory Consolidation, Monthly Closing, CDM

Watch the video

Astaldi

IFRS Reporting, Consolidation, Cash Flow Planning, Budgeting, Monthly Closing

Read the case study

Browse our Resources


get started

Yes, I’d like to know more about Tagetik


For more information, please complete the below form and a member of our team will reach out to you shortly!