Hi and welcome.
Today, we're going to take a dive
into Authority Software, which provides two products that cater
rather harmoniously for solvency to Pillar 3 and narrative reporting.
Now, the first one,
DPM Authority, maps and validates data according to the taxonomies.
And the second, Report Authority, is an
XBRL-enabled report writer that makes SFCR and RSR reporting very easy.
DPM Authority provides a view through the eyes of the taxonomies.
So this means that all of the templates,
calculations, validations within the tool are all derived from the taxonomies.
This means that with DPM Authority,
there's no separate data model to configure it and it doesn't store data
in the underlying database. All data collection,
processing, adjustments,
controls and governance are inherited from the underlying source systems.
So as a result,
this makes taxonomy deployment really quick and minimises maintenance,
which in turn maximises the processing window available to their customers.
Solvency II submissions are organised in Report Authority documents.
The configuration of the document defines
the entity, the period and the type of submission.
In other words, which jurisdiction of authority and taxonomy is to be applied.
Uses can also define their own returns and then reuse the documents time after time,
without the need for routine, arduous set up.
Whilst users can input data directly into the templates,
an important feature is its ability to link to upstream systems.
This is particularly useful
for organisations who are satisfied with what they have already catered
for all of the Solvency II reporting in their existing systems.
The tool has integrated adapters to work with data sources such as Excel,
CSV and SQL databases, and has connectors specifically for
OneStream and the Oracle suite of HFM, Essbase, Planning and NetSuite.
DPM Authority can also generate a series
of Excel input templates, which are structured in the familiar
format that's consistent with the regulator's specifications.
Your users can then leverage the full functionality offered by Excel,
and a simple save and refresh is all that's needed to update DPM Authority.
Mappings and connections are easily
migrated from one document to another, which makes return setup easy
even when transitioning from one taxonomy to a newer one.
Colour coding helps users identify at a glance where each data point,
row or column is sourced from, and the value editor offers the precise
source data detail for any given data point.
As you may know, mapping data points can be very time consuming,
but DPM Authority's intelligent auto map
feature makes this process much easier and much faster.
By configuring outputs from upstream sources to conform with the template
models, users can map sources to tables with just a few clicks.
You can also apply manual mapping by dragging and dropping data
into sections from their source systems to individual data points,
rows and columns, or even groups of rows and columns.
Running validations will swiftly identify blocking and non-blocking errors and
all warnings and guidance are consistent with the underlying taxonomies.
All outputs are provided in XBRL format
and generating the final submission file is quick and easy.
Now the second product that we'll look at is Authority Software's Report Authority tool,
which is ideal for preparing the SFCR and RSR.
It has all the features of a good disclosure management tool.
It also allows users to take a templated approach, which means that multiple
reports and entities can share common templates.
Narrative reports are split into folders
and document segments which aids navigation, organisation and presentation.
Because the SFCR structure is prescribed, users can align the structure
to be exactly consistent with the regulator specifications.
Reports Authority also comes with its own inbuilt word processor.
It leverages Microsoft Word so users will find the interface familiar.
Key features include styles, formatting, track changes and comments.
Another key feature of the tool is the ability to embed dynamic data objects.
And again, it uses drag and drop to map
data from the underlying data sources to report destinations.
Users do not need to feed all of the data from underlying data sources and might
rather choose to use the calculation capability.
Calculations are based on the destination
values and not the source values, which means that rules regarding scaling,
rounding and casting will also be inherited
by the calculations.
Validations are used to enforce integrity
of data throughout the documents, so users may either post corrections
at source or post adjustments in the document directly, having the peace
of mind that the document integrity is maintained throughout the process.
Both DPM Authority and Report Authority have roll forward capability,
which means it's really easy to create new reports for each new period.
So Authorities Software doesn't try to reinvent the wheel,
its most fundamental feature is how the software consumes taxonomies and as
a result of this, it can cater for a vast range of taxonomies and therefore various
regulations, far beyond the scope of Solvency II.
In addition, it's quick,
it's easy to deploy and maintenance is very light.
Authority Software is a great fit for organisations who simply want
to replace incongruous spreadsheets and rather want a single integrated
solution for all of their XBRL, iXBRL and ESF requirements.
If you want to find out more about how Authority Software can help you,
visit our website for more details.
And while you're there, why not book in a demo?
It'll be worth your time. Thanks for watching.