Accounting Rules - A Single Point of Control

Microgen's expertise enables today's global financial institutions to create flexible finance solutions to meet the business needs for faster P&L, reduced exposure and enhanced capital management including local and central GAAP and balance sheet substantiation for confident balance sheet sign off.

The banking world has historically selected best of breed systems in the front office creating, a heterogeneous systems environment. For Finance, this has meant inconsistent data and different accounting treatments being applied in the source systems, resulting in a huge manual effort to produce financial reports.

Microgen offers solutions that enable the synchronisation of data feeds with different levels of granularity to multiple targets, such as a ledger and a data warehouse, therefore reducing reconciliation effort. It standardises data for the risk and finance functions providing real time P&L for finance and real time risk assessments.

Benefits

Delivers event-based accounting
Provides a single point of financial control
Promotes a consistent accounting treatment across business lines and geographies
Facilitates General Ledger migration or consolidation
Assists with front to back office integration
Delivers visibility of accounting methodologies and treatments
Promotes fast adoption of new regulations including IAS/IFRS
Extends STP into the back office
Allows for real time accounting and intra day exception processing
Optimised for high and rising volumes of transactions
Ensures data integrity between feeds into ledgers, data warehouses and risk systems

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