Financial and operational disclosure is a time consuming manual process. Luca enables the assembly of knowledge and logic based financial reporting models that are re-used for automating financial disclosure every reporting period.
Model based assembly automatically picks terms and definitions from USGAAP, IFRS and most other reporting scheme taxonomies. Model assembly constrains financial report logic, data and structure. Tagging is automated and accurate which eliminates inconsistencies that are common in most structured disclosure development.
Best of all, you can't make mistakes because Luca is the expert so you don't have to be.
Some of the benefits of a model based approach include:
Substantial reduction of preparation time
Effective internal controls over financial disclosure
Reduced external audit costs
Non Technical Users
All the complexity inherent in structured financial data disclosure is under the hood in a similar way that website content management systems use HTML and CSS constraints under the hood to automate site development so you don't have to be a developer.
You do not need to be a structured data expert or a developer to originate pristine, accurate and compliant financial and operational state disclosure instances.
Using the Luca Suite means that CFAs can now extract and aggregate accurate and consistent financial statement data that has rich meaning and context.
The user guide contains all the information and video tutorials you need to get started!