DPM Authority and Report Authority
Vendor Description
Authority Software’s Authority Suite is used by 100 companies across the EEA providing regulatory reporting software for insurance companies, corporations and banks.
The Suite (DPM Authority, Report Authority and XML Authority) facilitate:
- regulatory reporting software for insurance undertakings (Solvency II) and banks/investment firms (CRD IV (COREP/FINREP));
- financial reporting software with XBRL and iXBRL capabilities; and
- XML reporting software (FATCA, AIFMD, CRS, SAF-T, country-by-country, MIFID II and many others).
Vendor Capabilities
In addition to Solvency II, Authority Software provides a number of capabilities, including:
DPM Authority provides a single tool to cover all DPM XBRL reporting requirements including EBA CRD IV (COREP/FINREP) reporting and contains a library of taxonomies that covers both European and National Reporting Requirements.
Report Authority easily converts Financial reports into iXBRL and combines numeric information and textual commentary into documents such as financial statements, board reports and other financial reports. Read more…
XML Authority covers AIFMD, FATCA, CRS, Country by Country, SAF-T, AnaCredit, MiFID II and many others where a published schema is made available
The Authority Software suite supports full iXBRL financial statement reporting that can be used to meet the mandates of ESMA’s ESEF (European Single Electronic Format), UK HMRC, Irish Revenue, Danish Business Authority and South Africa’s CIPC. Read more…
DPM Authority and Report Authority
by Authority Software
Key Features
- EIOPA and all NSTs
- Rapid turnaround of taxonomy updates
- Quick to implement – ‘plug and go’
- System connectors for Oracle and OneStream
- Upstream system integration capability
- Disclosure management tool for RSR and SFCR
Product Description
Authority Software provide two products that work harmoniously to cater for Solvency II Pillar 3 and narrative reporting. DPM Authority maps and validates data according to the taxonomies whilst Report Authority is an XBRL-enabled report writer that makes SFCR and RSR reporting easy.
Authority Software is a great fit for organisations who simply want to replace incongruous spreadsheets and use a single integrated solution for all of their XBRL, iXBRL and XML requirements. One of the distinguishing features is how the software consumes taxonomies, which allows it to cater for a vast range of taxonomies, and therefore various regulations, far beyond only Solvency II.
DPM Authority
DPM Authority’s templates, calculations and validations are all derived from the taxonomies themselves so there is no need for a separate data model to configure nor a database to maintain. All data collection, processing, adjustments, controls and governance are inherited from the underlying source systems. This is particularly useful for organisations who have already catered for all of the Solvency II reporting in their existing systems. As a result, the taxonomy deployment is rapid with minimal maintenance.Read more...
Solvency II submissions are organised in DPM Authority documents. The configuration of the document defines the entity, the period and the type of submission i.e., which jurisdiction, authority and taxonomy is to be applied.
The tool has integrated adapters to work with data sources such as Excel and SQL databases and has connectors specifically for OneStream and the Oracle suite of HFM, Essbase, Planning and NetSuite. Users can also input data directly into the templates via Excel templates that are structured in a format that is consistent with the regulator’s specifications.
DPM Authority’s intelligent Auto-Map feature simplifies the mapping of data points. By configuring outputs from upstream sources to conform with the template models, users can map sources to tables with just a handful of clicks. Users may also apply manual mapping by dragging and dropping data intersections from their source systems. Mappings and connections are easily migrated from one document to another, which makes return set-up easy, even when transitioning from one taxonomy to a new newer one.
Validations will 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 fast and easy.
Don’t forget to read our Solvency II Buyer’s Guide.
Report Authority
Authority Software’s Report Authority has a feature-rich disclosure management tool that is ideal for preparing the SFCR and RSR. It 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. Report Authority comes with its own in-built word processor modelled around the look and feel of Microsoft Word, users will find the interface familiar.
Read more...
A key feature of the tool is the ability to embed dynamic data objects, using drag and drop to map data from underlying data sources to report destinations.
Users do not need to feed all of the data from underlying data sources and may rather choose to use the tools 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 and users may either post corrections at source, or post adjustments in the document directly, with peace of mind that the document integrity is maintained throughout the process.
Both DPM Authority and Report Authority have roll-forward capability, which makes it easy to create new reports for each new period.
Don’t forget to read our Solvency II Buyer’s Guide.
Product Snapshots
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