Helping Financial Services organizations compete, strategize, and manage risk.
CUBOT BI solutions handle complexity in mature, neat solutions on top of complex financial data that drives performance.
Financial Services Data Analytics Solutions
Examples that are popular and relevant in today’s market with built in processing pipelines, data-models and analytics
Enterprise Sales Reporting
Financial Service Providers sometimes operate with complex networks and large volumes of sales data that need to be accounted and handled appropriately. Automating these solutions via CUBOT BI is a solution to get accurate and reliable statistics for important numbers.
Regulatory Reporting
Financial Service Institutions are regulated by a National, Central Authority and are required to comply and report statistics for industry governance.
CUBOT BI facilitates automated reporting of regulatory statistics and reports that are required to be filed in various formats, including XBRL.
Accessing data from various source systems, preparing data pipelines, calculating various statistics and preparing data in standardized formats to the regulator is still not a fully automated activity as of today. By automating these processes organizations operate more efficiently and can focus on risk management and other more relevant operations.
Fully automated data processing pipelines for standardized reporting formats mapped to source data improves efficiency, reduces errors and allows for better performance of teams.
Customer 360 Degree Analytics
Customers are the key to the operation of the retail financial services sector. Understanding the customer in a holistic manner gives organizations a competitive edge. Data continues to grow in volume and variety and integration of these into a single source of truth has power to transform business operations and strategy for the better.
Lending Analytics
Loans and credit are a key aspect of financial operations. Improving processes such as underwriting, sales, and follow up of repayment become essential to better operating businesses.
Processing large volume of customer loans, calculating probabilities, and providing predictive insights on a screen give an edge.
The preparation of annual/monthly financial statements is still largely a tedious and manual process for many accounting teams or vendors. Automated reporting of this aims to eliminate errors and streamline data processing pipelines for accurate, efficient reporting.
By connecting directly to various types of data sources for trial balance data and incorporating external data for adjustments and other master data such as the chart of accounts, processing pipelines can be built. Using this, financial statements such as the Statement of Financial Position, Statement of Profit and Loss, Cash Flow Statement can be automatically generated and presented appropriately.
Templates can be uploaded to CUBOT BI containing formats for financial data output, as well as other text annotations described by audit assessment teams.
This results in professionally formatted financial statements that are print and audit-ready, with data that is traceable to the account level.
Automated Financial Reporting
GST/Tax Filing Automation and Dashboards
GST Returns are required to be filed by registered firms to the Indian Tax Authority on a monthly basis.
Typically, the process is cumbersome and highly manual in many cases, owing to the variation of data in source systems, the differing nature of businesses and tax laws applicable, and having accountants with different working styles as well.
Streamlining the data processing directly from source system or extracts, applying various processing rules and generating outputs that are ready to file to the portal eliminates errors and improves accuracy that will ultimately result in lower tax payouts and reduced litigation likelihood.
CUBOT BI provides automation bots for various GST returns as well as a consolidation of processed data and invoice level information in CUBOT BI platform for analytics and dashboards to track tax payouts.
