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AI is no longer a Mere Niche, Optimizing Compliance Reporting!By CIOAdvisor Apac | Tuesday, August 20, 2019
Artificial intelligence and machine learning capabilities are shaping business-centric file compliance reporting.
FREMONT, CA: DataTracks, a global leader in offering cloud-based software application, plans the future version of its Rainbow software, highlighting the potentials of machine learning, artificial intelligence, and other computer-cognitive conceptualizations. The company is a global leader in providing software and services to help business enterprises prepare and file compliance reports with regulators.
Rainbow 3.0, the present version of the software, ties up with financial books and draws financial and additional data into a depository. It expedites the writing of compliance reports in a collaborative way using the data in the warehouse and interpreting data by associating each piece of data with an entrenched concept in a public or private taxonomy. It also facilitates extraction of output in XBRL, iXBRL, HTML, and PDF formats for filing with regulators and for printing/publishing to stakeholders. Rainbow 4.0, the upcoming version slated for release in future, will incorporate AI and ML features to augment human judgment in associating the purposeful definition of financial data.
DataTracks is a Singapore-based company that is a global leader in disclosure management software. The company serves more than 16,600 industry enterprises in 24 countries. DataTracks software and services have been utilized to prepare more than 166,000 compliance reports so far for filing with regulators. It is a cloud-based solution for automated development of compliance & regulatory reports in HTML, XBRL/iXBRL formats.