KPMG has developed software that can help medium-sized and large companies produce accounts up to 70% quicker.
The Big Four firm said its K-Trinity AP program automates 80% of the accounts production process and applies iXBRL tags to the financial statements.
KPMG saw a gap in the market for accounts production software, as much of the available software is aimed at small and medium sized businesses and accountancy firms. These users have relatively straightforward accounts and don’t need to tweak the layout of reports, KPMG reckoned.
While template-based software is fine for most small businesses, larger companies typically have more complex accounting needs and want the option to customise the layout of their accounts, according to KPMG.
Large companies often use Word...