Global Regulatory and Tax Accounting- Point Solution


A point solution which has limited adoption time and that can be integrated with the downstream and upstream application in the business. Instead of created a platform or a product for all the global regulatory changes made by various Global regulators like the IRS, FINRA, SEC, FCA, BASEL, etc. creating a point solution which can be then customized based on the customer technology, business requirements and sophistication of the users and technical capabilities within the organisation

End to End Solution

reg-1

Advantages of having point solution over platform/products

  1. One size does not fit all
  2. Customer technology culture – Some companies can handle outsourced services and are not interested in customizing platforms. Some IT departments, even in the largest of companies, are more focused on user experience than control and support departments in their efforts match their innovative processes
  3. Easy to get going and straightforward – client can make a decision whether to outsource the entire element to a service provider. Also, reduces the technology complexity when using multiple technologies for the same line of business the diagnosis of the problem is always challenging
  4. Low cost compared to the big enterprise platforms, as this may minimize the data complexity as each client tool would have its database with its structure and integrating these databases is hard
  5. The point solutions can be converted to enterprise platforms through M&A.

Key Success Indicators

  1. Regulatory risk reduction
  2. Cost Optimization through automated workflows
  3. Business Change adaptability with minimum business impact
  4. Robust control framework

 

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