Model-based Financial Reporting

Model-based financial reporting is the future of financial reporting in my view. It just makes a whole lot of sense. Twinfox.ai is looking at model-based reporting correctly in my view.  Have a look and decide for yourself.

My thinking goes like this.  Accountancy (meaning accounting, reporting, auditing, and analysis; financial, tax, managerial) currently involves a lot of "dirty-work" related to moving information around.  Often software applications are too inflexible and don't let accountants do their work.  But Excel can be to flexible to solving the problems that need solving.  In between software applications and Excel a new class of software will emerge.  That new class of software will be model-based, semantic-oriented, standards-based, and easy for business professionals to make effective use of.

Accountancy will not be the only profession to benefit from such tools; but accountancy will be early in the evolution.  Other professionals such as the law and medicine will also benefit from the changes that are occurring in our world.


All this is not hard to grasp if you have the right level of digital proficiency which enables you to understand that the "industrial era" from which we are transitioning from operated under a different set of rules than the "information age" into which we are transitioning to. Currently, we have not "arrived" at where we are going and we have not totally left where we were coming from yet.

This is about eliminating the non-value adding "dirty work" of moving information around so that the value add of accountants can increase. 

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