Kolon Benit announced on the 13th that it has launched the financial disclosure solution DSDFlow, which enhances the automation of disclosure tasks.
DSDFlow is specialized in disclosure functions from Kolon Benit's consolidation disclosure automation solution 'Benit Sigma,' and it is designed to allow all corporations required to submit audit reports to prepare disclosure documents accurately and swiftly, Kolon Benit explained. It can automatically convert Excel-based financial information into DSD files for electronic disclosure, and a reference function for the previous and last quarters has been added to reduce review time and audit response burden.
Additionally, it provides a system-based integrated management environment based on Enterprise Resource Planning (ERP) connection to automatically collect and manage financial information, and also addresses data loss and history management limitations. Moreover, it improves the accuracy of disclosure data through XBRL (International Standard Language for Digital Reporting) and DSD data cross-validation, offering automatic conversion of disclosure documents and annotation templates.
Furthermore, Kolon Benit noted that it can flexibly modify related forms when introducing new accounting standards such as K-International Financial Reporting Standards (IFRS) No. 18.