Johannesburg, 24 May 2024
In today's fast-paced business environment, staying compliant with regulatory requirements while managing your financial reporting can be a daunting task. For many businesses, generating forward-planning IFRS 9 reports poses significant challenges. However, with Bootsure from Digital Solutions Foundry (DSF), you can now generate these reports at the touch of a button, completely transforming the way you approach financial reporting.
Although auditors and regulators demand IFRS 9 reports, they are time-consuming and complex to produce, and many businesses, especially small to medium enterprises (SMEs), lack the resources, time or expertise to produce them accurately. Excel-based solutions often fall short in providing the governance, consolidation and efficiency needed for proper impairment calculations. As a result, companies struggle to meet these requirements, risking compliance issues and inefficiencies in their financial reporting processes. As such, many businesses aren’t able to take full advantage of the valuable business insights that these reports can offer.
Bootsure offers a solution that addresses these challenges head-on, says Paulinah Teffu from DSF: “While this is only a fraction of the full Bootsure offering, its IFRS 9 module is a powerful tool. With its advanced features and user-friendly interface, Bootsure is a one-stop solution for businesses looking to efficiently manage their IFRS 9 reporting. With the reliability and standing of accredited methodology approved by leading audit firms, Bootsure is a proven and trusted solution already implemented in many organisations, including BARCO and other financial institutions. Its scalability, cloud-based architecture, and data security features make it a reliable choice for companies of all sizes.”
Teffu explains that Bootsure's IFRS 9 calculator can process large data sets and forecast multiple scenarios, providing valuable insights for decision-making: “This is a robust rating engine and its key features include the ability to process data in multiple languages, including Python, R, C# and SQL. It can handle large amounts of unstructured data from any source, transforming it into a format suitable for reporting. The system requires minimal configuration, making it really easy to implement and use.”
Unlike traditional solutions, Bootsure offers a comprehensive system for IFRS 9 reporting that goes beyond Excel and Moodys calculator. It allows for the complexity of collateral and amortisation structures, providing a level of detail and accuracy that Excel-based solutions cannot match. Bootsure also includes test policies for audit and governance, ensuring compliance with regulatory requirements.
From data collection and analysis to generating accurate reports, Bootsure streamlines the entire IFRS 9 reporting process, allowing organisations to focus on what matters most – making informed decisions and driving business growth.
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