EXL Regulatory Reporting Assist AI

Organizations face challenges due to the absence of a unified platform to monitor the progress of the statutory reporting close cycle. This lack of centralized oversight often results in delays and fragmented workflows.

During peak close periods, financial teams spend excessive time on validations and reviews of financial statements, which slows down the overall process and impacts timely completion.

Manual review processes increase the risk of missed or incorrect validations, exposing organizations to compliance risks and potential inaccuracies in financial reporting.

Many companies are experiencing a shrinking pool of experienced professionals with expertise in statutory reporting, leading to knowledge gaps and operational challenges.

The close cycle requires significant manual effort to generate critical financial insights such as flux analysis, addressing controller and CFO queries, and ensuring regulatory compliance, all within strict deadlines.

There is a growing need for generative AI-powered solutions that provide deeper, faster, and more interactive financial analytics, enabling reporting teams to quickly identify trends, patterns, and anomalies in their data.

1. Validations Module

Automation of manual checks and review of Financial Statements. Employs machine learning to create historical records of resolution steps for each validation Next best action based on historical validations

2. Business Insights Module

Generate anomalies in trends and patterns for key financial ratios, capital adequacy and underwriting performance

3. Flux Analysis Module

Provide rationale for variation in QoQ and YoY figures for significant movements

4. Conversational BI (Gen AI Assist)

On demand and ready to use responses for Controllers and Regulator’s queries

5. Schedule and Performance Metrics Module

Statutory Reporting schedule with automated roll-forward and KPIs capability

6. Controller’s Review Module

Controller and Analyst submits review and response comments