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Going Beyond Traditional Financial Reporting, Integrated Reporting Meets Needs of Decision Makers and Stakeholders for Comprehensive and Transparent View of Business Performance and Strategy
STAMFORD, Connecticut, May 9, 2014 /PRNewswire/ --
Mike Willis, a PricewaterhouseCoopers partner and founding chairman of XBRL International, will deliver the keynote presentation, "Benefits of Comprehensive Integrated Reporting," at Tagetik's North American User Conference in New York City on May 15. Approximately 100 Tagetik customers and partners will attend the annual event, hosted by Tagetik, a global provider of enterprise software solutions for performance management, disclosure management, financial governance and business intelligence. Attending executives will represent companies such as John Hancock, Babson Capital Management, LAZ Parking, and Worthington Industries.
"Today, only about 20% of a company's market value can be accounted for by financial and physical assets - which is what traditional financial reporting is based on," according to Willis. "Other factors - such as business relationships, intellectual property, human capital, and market trends - make up an increasing proportion of a company's value. The goal of integrated reporting, which pulls information from a broad range of internal and external sources, is to provide a more comprehensive and transparent view of a company's value from a short-, medium-, and long-term perspective."
"Five years ago, integrated reporting was not very practical for most companies to even consider," said Dave Kasabian, senior vice president of product marketing and strategy at Tagetik.
"However, now with Tagetik's unified Financial Performance Platform™, the concept of integrated reporting is actually within reach. We are honored to have Mike speak at our conference and bring this topic to life for our customers." Tagetik's Financial Performance Platform includes performance management processes, built-in ETL (extract, transform, load) capabilities, analytics, and combined financial and narrative reporting.
Willis' presentation will cover the fundamental concepts and elements of integrated reporting, examples of companies already moving toward integrated reporting, the role of technology and standards-setting organizations, the economic benefits, and steps companies can take to evolve toward this more strategic reporting approach.
Tagetik's North American User Conference spans two days and includes sessions on the future of business intelligence, corporate performance management trends, advanced budgeting and planning, and data security, as well as detailed product-related sessions. This year's event will be held at OFFSITE[TM] NYC, a state-of-the-art meeting venue in midtown Manhattan.
About Mike Willis
Mike Willis frequently writes and speaks on the topic of business reporting. He has appeared in publications such as Harvard Business Review, Financial Times, Business Week, Wall Street & Technology, FEI Magazine, CFO Magazine, Journal of Accountancy and CIO Magazine.
Mike Willis is a partner with PricewaterhouseCoopers and the founding chairman of XBRL International, a not-for-profit consortium of companies and agencies worldwide that work together on the building of XBRL, an international information format standard designed to enhance business reporting supply chain processes, and supporting its adoption.
Willis also played an instrumental role in the founding of the Enhanced Business Reporting Consortia, a consortium of organizations working toward consensus on an internationally recognized framework of voluntary, international guidelines for business reporting, and the World Intellectual Capital Initiative (WICI), a private/public sector collaboration aimed at improving capital allocation through better corporate reporting information. WICI is a collaborating member of the International Integrated Reporting Council and works to help further the evolution of corporate reporting and enable organizations to communicate their value-creation stories more effectively with investors.
Tagetik is one of the fastest growing global software companies in the Performance Management industry, with operations in more than 30 countries and over 600 customers worldwide. Tagetik delivers enterprise solutions while providing a 'boutique' experience, resulting in the highest level of client satisfaction in the industry.
With deployment options in the cloud or on-premises, Tagetik 4 provides robust functionality for budgeting, planning, forecasting, consolidation, close, reporting, profitability analysis, disclosure management, financial governance, and business intelligence - all from a single, unified platform. By moving to a unified financial solution, Tagetik customers have dramatically increased organizational efficiencies, reduced risk, saved money and improved their companies' bottom lines.
To learn more: http://www.tagetik.com
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