FERC XBRL accounting professionals save time with Glacier’s Roll-Forward
Today, there are vast amounts of data, especially in the energy, power, and utility industry. The increasing use of emerging technologies has spearheaded advancement but has made accounting complex. The risk associated with regulatory reporting, along with the frequently changing regulatory requirements, can make compliance a daunting task.
Effective compliance solutions need to be robust, easy to use, and accurate. But most importantly, they need to be durable.
At DataTracks, our seasoned team of experts has utilized their deep experience in regulatory reporting to develop a cloud-based application that achieves optimal outcomes with regulators while simplifying your internal processes and making them more cost-effective. All of this without having to upgrade or reinvest year on year.
Glacier has a host of features and benefits. But one such feature that is significant to explain the solution’s durability is its roll-forward function.
From DataTracks, users will receive a downloadable utility that can be used as an external tool. All you need to do is transfer your historical data from previously submitted documents into this tool and upload it to Glacier. Once populated onto the software, the process of using this data to submit your filings is easy and seamless.
This not only saves you time, effort and resources but also gives you key business insights at one glance. This feature also ensures that you can use your wise investment in Glacier for an extended period, without having to worry about scaling up new hires or putting money into training.
With Glacier, users can utilize the roll-forward feature by:
Generating MS Excel output of previous period’s filing using Glacier and using the roll-forward utility.
A team of XBRL experts have developed Glacier at DataTracks, who have extensive experience in delivering specialized solutions for regulatory reporting requirements across the globe.
For a better understanding of how DataTracks can help enterprises in the energy business meet their FERC XBRL requirements, contact +1 (609) 257 4232 or drop a line at enquiry@datatracks.com.
