Diasoft became the General Partner of the VI Annual Financial Sphere Award for the section "Banks and Payment Services". The company submitted a large-scale project for implementation of its FLEXTERA BI for automation of regulatory reporting in VTB24. At the award ceremony, which took place on 30 March 2017 in Moscow, VTB24 and Diasoft's project was named one of three best implementations in the category "Reporting Solutions".
FLEXTERA General Ledger
FLEXTERA General Ledger consolidates financial information of a modern financial institution to support regulatory and management accounting and reporting in strict correlation with the company’s internal accounting policy and national and international accounting standards. Significantly, the solution successfully meets the challenges of international businesses operating under legislations of different countries and allows them to perform both local regulatory accounting and corporate management reporting. FLEXTERA General Ledger provides comprehensive tools for efficient processing and consolidation of financial information ensuring real-time enterprise-wide overview of the company’s finance. It is a modern, high-performance and flexible system designed to meet business requirements to financial processing of the largest multi-branch international banks to small and middle-sized financial institutions and insurance companies. FLEXTERA General Ledger is based on the SOA principles with the use of JavaEE technologies ensuring easy integration of the solution into any IT environment and flexible configuration of the business processes related to accounting and reporting. It provides web-services for the consolidation of financial information with an incredible speed to ensure effective management, regulatory and corporate control over the company’s finance. The solution can be delivered with comprehensive FLEXTERA Front Office, Middle Office, Back Office and Reporting product suites or flexibly integrated with third party solutions. Functional Scope FLEXTERA General Ledger automates the following business processes: • Multi-currency, multi-language and multi-currency support; maintaining ledgers in different currencies; • Accounts management: maintaining different Charts of Accounts; recording transactions; debit and credit memos; fast processing of memo-postings to personal and consolidated accounts (both online and batch processing); opening / closing / changing accounts; • Comprehensive coverage of all mandatory accounting operations: reappraisal, final appraisal; trial balances; carrying forward the balances of double-entry accounts; controlling correctness of book-keeping; • Managing banking days (opening / closing); reporting periods and post balance sheet events; automated end-of-period processing; • Consolidating data for regulatory and management reporting; • Management of standards and master data. Flexibility through separated operational and regulatory accounting — FLEXTERA solutions are built on the principles of separated operational product accounting and regulatory financial accounting. The back office systems which are responsible for product management operate with internal product accounting data and do not record transactions into financial accounting systems. To maintain the Chart of Accounts and transactions accounting in the General Ledger, the operational product accounting data are transformed into the regulatory accounting forms with a special FLEXTERA Business Event Manager. The module allows for processing back office events and generating General Ledger data in accordance with the custom rules and regulatory standards.