Managing Statutory Reporting in Shared Service Centers
Drive efficiency and reduce cost in your statutory reporting process through centralisation and standardisation, especially by overcoming common challenges including - lack of country specific knowledge and local language requirementRegister
Professionals who manage Finance Shared service centers are tasked with being profit centres, not just cost-centres. For companies that do business in many different jurisdictions or have uniquely complex regulatory reporting responsibilities, have a huge opportunity to leverage current investment & deliver an improved bottom line to the business.
Local statutory financial reporting can be a real headache for multinationals, often requiring reports to be created for hundreds of legal entities across dozens of jurisdictions all with different formats and reporting deadlines. How can you drive efficiency and reduce cost in your statutory reporting process, esp by overcoming challenges such as - lack of country-specific knowledge and local language requirements?
Mark Boakes, Former Program Manager of Statutory Consolidation and Reporting at General Electric (GE) will share the challenges GE faced with statutory reporting across 1500 legal entities and how centralizing the process using technology resulted in reduced outsourcing costs and increased control over their reporting process.
From the session you'll learn to:
- Effectively manage statutory reporting across multiple jurisdictions
- Reduce risk of delayed or inaccurate statutory report filings
- Reduce outsourced reporting cost
- Free up local finance teams from low-value compliance work
- Get more value from existing financial shared service centers