Why vCloud Tech?The Altova CbC Reporting App simplifies the process for companies that report by creating country-by-country reports using XML
The Organization for Economic Co-operation and Development (OECD) requires that multinational corporations submit annual financial statements for every country conducting business. This Country by Country (CbC) report must be filed as an XML document by the OECD reporting schema. This permits the OECD to reap the numerous benefits of XML. However, it also presents an enormous challenge for financial professionals new to XML technology.
Altova has developed the CbC Reporting application to enable filing companies to quickly create CbC XML by manually entering data through the user-friendly web interface or uploading information using the Excel Country by Country Reporting template. Customers can access this secure cloud-based service immediately and without any software required to install or download. Altova Cloud is a cloud-based service that gives customers the option of US or EU-based data centres to meet the different laws among jurisdictions. There are two ways to connect to Altova CbCR. You can select which one is most suitable for you.
Benefits of the Altova Approach
- On Altova’s cloud portal, After you sign-up for Altova Cloud Portal, you can sign-up for the Altova Cloud Portal service; you can join the Altova Cbc Solution and swiftly establish access for your staff.
- Install Altova CbC Reporting Solution onto your network locally through an on-premises installation. Install the components needed for running Altova CbCR separately. This lets you alter your CbCR structure to meet your particular requirements within your company.
A user-friendly web browser interface allows users to use the CbCR Solution:
- The concept was developed based on Altova’s twenty-plus years of expertise working in the XML field
- It is easy for users who need more technical skills.
- It automatically creates an XML file that is valid and compliant with CBC reporting.
- Produces correction reports using XML.
- It accepts data entered manually or data uploaded as Excel data.
- It includes an Excel template for defining recurrent reporting.
- There is no black box. Customers have access to and review the current XML file if required.
Generate Correction Reports
Suppose an organization has to modify an existing report that has been filed, including, for instance, changing, removing, or altering information, correct data, or correct data. In that case, the CbC XML Schema specifies the procedure to create the correction report. However, the reports have to reference the internal IDs used in the original piece and, consequently, are difficult to produce manually. The Altova CbCR Reporting Solution makes it simple to make a correction report from the current CBC message, then compare the changes with the original piece and create the information in a valid CbC XML.
Instant Access, Affordable Pricing
There is no need to go through an introductory sales presentation, sign up with credit card information or go through a plethora of complex instructional materials to get started using this Altova CbC Reporting App. Setting up a secure Altova Cloud account takes a few minutes and begins with a free 30-day trial to access the CbC Reporting App. It’s that simple. Altova Cloud gives you immediate access to the app without downloading any software or signing a license. This is hundreds or even thousands less than comparable options! Users can begin the buying process by selecting Manage Subscription on Altova Cloud.
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The Altova CbC Reporting App enables reporting organizations to create country reports in XML easily. Protect users from complex XML syntax with an easy-to-use interface and Excel templates for creating CbC reports.
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