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ifrs 9 solutions

IFRS Reporting Engine


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.

IFRS9 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.

 

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.

 

integrated solution

Tagetik's IFRS solutions are non-disruptive to existing architectures - they integrate with all your systems, including Tagetik CPM and non-Tagetik applications, on premises or on the cloud.  Tagetik's ETL capabilities allow you to seamlessly integrate with any source system to import or export data.  

  

Modelling and Calculation Engine

With Tagetik’s calculation engine and the power of analytics, you can process and calculate large volumes of data quickly. Flexible modelling allows you to easily configure calculation logic and rules to stay compliant. 

 

Disclosure and Reporting

A single version of data and our Collaborative Office solution makes it easy to report while adhering to IFRS 9’s disclosure requirements. Whether you are providing a drillable financial statement to your CFO, a pdf board book, a PowerPoint presentation for your investors; have complete confidence that numbers and narrative are accurate and auditable.

Get ahead of the curve on IFRS 9 compliance



Workflow and Collaboration
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Workflow and Collaboration

Finance, sales, and operations are better aligned using Tagetik’s preconfigured workflow and communication tools that unify the entire cycle and keep contributors on track and reports on time.

Finance Powered
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Finance Powered

Even with multiple diverse data sources, granular data, and complex calculations, Finance owns and manages the entire process from start to finish.

Audit Trail
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Audit Trail

Users can see who, when, and where data came from, it’s entire lifecycle, down to the metadata.  With Tagetik, you get a detailed audit trail for full transparency.

Easy to Use
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Easy to Use

Intuitive user experience, pre-configured calculations and templates make IFRS 17 compliance as simple as possible for everyone involved.

Reuse Valuable Data
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Reuse Valuable Data

Reuse the same data across multiple internal and external reporting requirements.  Upload data with adjustments back to source systems for consistent data across systems.

Reduce Risk
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Reduce Risk

Reduce risk of errors, inconsistencies or omissions by using packaged templates and disclosure reporting intelligence.

Part of Unified CPM
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Part of Unified CPM

No single regulatory report is an island, it’s the outcome of your entire financial management processes and reporting systems. Tagetik is the only unified CPM solution to drive numbers accurately and efficiently into regulatory reports. 

Cloud without Compromise
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Cloud without Compromise

On Cloud. On Premise. One Solution.  Whether you choose cloud or on-premise, it’s the same solution that’s owned and operated by finance.

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


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