Sophisticated enterprise quality business systems are essential for Financial Institutions to effectively cope with the demands of Governance, Risk, Compliance and Basel II as well as the challenges of the current credit crisis.  Financial Institutions have to be frugal in managing limited capital, liquidity and borrowings in the same manner as they have to control costs. 

The current environment calls for a new type of system:

·         The new demands are outside of the domain of the General Ledger and ERP systems.

·         The environment is too demanding and complex for spreadsheets to cope

·         This is outside the domain of the banking system which is transaction focused.

There is a demand for greater veracity in the quality of information

·         APRA is applying greater scrutiny to the risk/management systems of the organisation

·         Credit Rating organisations and investors need to have demonstrated confidence in the business.

·         Senior executives and boards require better information for due diligence planning.

Financial Institutions can no longer afford to throw more money and people at the problem and they cannot afford short cuts or any inadequacies, this has become too critical to the business.

Dac4cast is an enterprise quality system that can be used by multiple users across the organisation to produce management, board and regulatory reports, to produce 3/5 year perpetual plans, capital and liquidity planning, to do strategic planning and risk planning, to produce the ICAAP and much, much more.

Benefits

·         Reduces the strain on staff resources

·         Cuts unproductive costs

·         Automates capture and compilation of management and regulatory information

·         Automates production of D2A returns

·         Simplifies the production of 3/5 year forecasts, capital plans and liquidity plans

·         Simplifies and reduces the workload in complying with Basel II including ICAAP

·         Assists in practical and effective strategic planning

·         Allows What if Scenarios, Worst Case Scenarios, Pricing Scenarios, Product planning.

·         Allows Boards to substantiate and demonstrate due diligence in planning.

·         Improves the quality and veracity of information including security, audit trails and controls.