Accounting interpretation solutions: now more essential than ever
Innovation has always been the driving force of the IT industry. The goal? To offer solutions that align as closely as possible with user needs while ensuring maximum reliability.
The factors that drive us to innovate include issues like data quality, information traceability, automation and industrialisation of management processes, and synchronisation of IT architecture systems. The concept of accounting interpreter, invented over 30 years ago, addresses all of these issues.
So what is an accounting interpreter?
An accounting interpreter is a business software solution that occupies a central position in an information system between so-called business applications and accounting and financial systems.
Its role is to “absorb” all of the management events generated from candidate business applications, in their raw formats, and incorporate them into a general and analytic accounting system or financial processing system (an order, a salary payment, a deposit, a customer refund, an invoice, a premium payment, an expense report, etc.).
These management events are then translated by the accounting interpreter’s engine into accounting entries in the required formats for accounting and financial applications (ERP and others).
But that’s not all an accounting interpretation solution can do! Besides translating accounting data, the interpreter can also be used to meet another essential need: producing the analytic key. By setting up appropriate interpretation rules, every accounting entry generated by the system can be automatically enriched with analytic data (cost centre, population, etc.) needed to properly manage a company’s business activity.
Simultaneously and in parallel, it can also feed other operational systems with no restrictions or limits.
Advanced accounting interpreter features
Beyond pure translation of accounting data, these solutions offer advanced features that are regularly updated and expanded. Explore all the features of the ISIE accounting interpretation solution.
An “à la carte” SaaS solution for every business
These solutions are now mature enough to be reliably implemented in the cloud, with SaaS offerings that adapt to the needs of every company and can meet varied constraints in terms of performance commitments, confidentiality and stability.
Both the technology and the economic model are scalable, making these solutions available to mid-sized businesses as well.
Return on investment
Setting up an accounting interpretation solution offers a variety of real returns on your company’s investment:
- By definition, choosing the SaaS model means reduced costs on infrastructure and human resources for maintenance, while also ensuring ironclad stability.
- Accountants can refocus on their work and provide added value through accounting and fiscal optimisation.
- A faster closing process reassures shareholders and executive committees, and makes it possible to publish results quickly (fast close) to better prepare for upcoming decisions
- High-quality data ensure accurate accounting and finances
- Automatic reconciliation saves time and offers an increased sense of “calm” during audits by statutory auditors, tax authorities or internal teams.
- Companies see significant time savings on tasks related to searching for sources of errors and divergences in accounting entries.
- Rule centralisation, which is also documented, provides essential agility when it comes to applying regulatory “updates” in record time.
- The automated system runs without human intervention, so accounting records are aligned as closely as possible with the company’s needs
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