23rd October 2011
There is keen interest in developments around the so called ‘Last Mile’ of finance. This term refers to the post-consolidation phase of financial reporting and marks a shift from the collection of account balances to the production of various documents and regulatory filings. In the main the software industry has tackled the ‘Last Mile’ by extending the functionality of business performance management software to handle documents, including XBRL filings. But another approach is emerging which is to use document management or enterprise content management solutions to marshal documents through the final phases of the reporting process. This is the approach taken by Silicon Valley Accountants with its AFRM product based on Hyland’s Onbase. At a talk in London last week there was significant interest in this fresh approach to an increasingly problematic area. You can read more about it here.