Solutions for contending with tight schedules and limited resources
Outsourcing service for financial results disclosure
Solutions for reducing financial results disclosure workloads while eliminating key person risk
Enabling clients to standardize fiscal year-end tasks while shifting to high value-added operations
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Client interviews
What is the outsourcing service for financial results disclosure?
This service involves PRONEXUS taking on the tasks required for consolidated financial closing and disclosure, thereby reducing operational workloads.
We seek to free clients’ employees from being tied down by the complexities of the practical processes through their use of outsourcing to achieve efficient financial closing and disclosure practices completed within limited time frames.
Our specialists provide prompt and accurate support that helps to shift focus to higher value-added tasks.
Outsourcing of consolidated financial closing
Outsourcing of tasks involved in the consolidated financial closing process to the extent required, which includes collecting and aggregating data from subsidiaries, as well as drafting consolidated worksheets for the preparation of consolidated financial statements
Outsourcing of disclosure document preparation
Outsourcing of the entire series of tasks related to disclosure practices, which includes confirming matters subject to disclosure, collecting data necessary for disclosure, and entering financial statement data and explanatory note into the disclosure system
Services recommended to corporations seeking these outcomes
- We provide services that extend beyond simply entering data on behalf of clients, which entails identifying source materials for disclosure documents prepared by our clients and business processes, thereby enabling them to retain expertise while streamlining and visualizing such tasks
- We provide year-round support for disclosure document preparation, encompassing everything from organizing materials and preparing drafts to entering data into the PRONEXUS WORKS
- We recommend our services to clients whose aims include improving disclosure document quality, developing consistent and streamlined disclosure practices, and structurally enhancing accounting departments
- We offer professional support in respective domains with our Disclosure Consultation Department working in partnership with DISCLOSURE PRO Inc., a company led by an accountant with a background at a major audit firm
- We help come up with solutions related to disclosure practices by building upon clients’ own financial reporting processes and fundamental materials, which involves addressing issues that include resource shortages, key person risk, difficulty securing human resources, inability to allocate or hand over tasks, IFRS disclosure compliance, and the tendency to overlook amendments and related updates
Reasons clients have chosen us
Distinct alternative to data entry outsourcing services
We were assigned an accountant who served as our controller and handled schedule management, which meant we also received advice on how to make our operations more efficient.
We had disclosure documents prepared based on interpretation of internal source documents we provided to the controller. This enabled us to achieve substantial reduction in standard workloads because we were furnished with draft documents that had already been checked by professionals.
Not only did these services free us from the task of data entry, but they also enabled us to achieve greater draft document accuracy as well as operational streamlining. As such, these services differ completely from those carried out by data entry operators who solely handle document input.
Highly satisfied with expertise provided on preparing disclosure documents
We gained insights with respect to best practices for putting documentation in order.
Also, use of the disclosure support tools provided to us made it possible to smoothly assign tasks to our accounting team members.
Significant reduction in concerns identified by audit firm
Financial disclosure audits took less time than before because we were able to provide high fidelity draft documentation with almost no concerns identified in the audit process. In fact, the audit firm was surprised by the minimal number of matters subject to revision.
Greater leeway achieved in the financial settlement workflow
Although we were subject to a somewhat greater pre-closing workload given an accelerated financial results settlement timeline, we were able to devote time to the task of rectifying accounting operations during the quarterly and annual settlement periods because tasks associated with document data entry and editing were largely eliminated.
Matters subject to improvement identified with respect to the disclosure process
Although we had previously been aware of our exposure to key person risk associated with disclosure document preparation, outsourcing of processes subsequent to disclosure document preparation caused us to realize issues inherent in the financial settlement framework leading up to disclosure document preparation, particularly in preparing disclosure fundamental materials.
Quality that justifies the cost
We initially felt that pricing of the services was quite high, but ended up being very satisfied given that we found cost of the services to be fully justified based on our achievement of lower operational workloads and fewer task-specific man-hours.
Groundbreaking services
Although the disclosure document end-product remains unchanged in terms of the overall process extending from audit completion to securities report submission, we deem that these services are groundbreaking given that they have served as a catalyst for operational improvements, particularly in terms of achieving visualization of the financial results settlement process.
Equipped to handle tight schedules associated with annual reporting
We made use of the outsourcing services on a quarterly basis, and ultimately encountered no problems whatsoever in outsourcing tasks associated with annual reporting, despite initial concerns about the tight schedules associated with annual reporting.
The outsourcing services offered by PRONEXUS extend beyond our merely handling operations for administrative departments in that we strive to organize workflows, achieve visualization of processes associated with disclosure document preparation, and ensure that know-how is retained within our clients. We are confident this approach enables a departure from key person risk in terms of over-reliance on specific personnel, thereby allowing our clients to focus on high value-added tasks.
Clients who have used our services
We have a track record of providing support to more than 200 corporate clients thus far.
