Deloitte prepares 30,000–40,000 annual reports and tax statements for its clients each year. To enhance efficiency and provide deeper, data-driven insights, Deloitte needed to streamline its processes.
Deloitte Audit & Assurance in Denmark faced an increasing demand to modernize its workflows. Existing methods relied heavily on manual processes, which were time-consuming and limited the ability to deliver additional value to clients.
The traditional approach to financial reporting and auditing posed a high risk of errors and restricted the ability to analyze deeper financial patterns.
To address this, Deloitte partnered with Immeo to develop FACT, a business application for intelligent financial report generation.
Deloitte Audit & Assurance decided to build a new solution based on Microsoft Azure’s cloud platform. The new FACT solution is a cloud-native application, designed with microservices in a component-based architecture.
This allows individual parts of the application to scale independently based on usage and behavior, making it easier to develop functionalities in separate areas of the application without dependencies.
We chose a modular solution that integrates with our core systems, creating a more efficient process—benefiting our many daily users.
Over 1,100 auditors now use FACT for financial reporting. The rollout of the application has been a great success, and Deloitte quickly began seeing the benefits. Auditors have streamlined their work, are satisfied with the system, and find that its user-friendly interface makes onboarding new users easy.
The core functionality of the new FACT application is to support large-scale financial report preparation. Its primary purpose is to help auditors quickly and efficiently generate high-quality financial reports.
The benefits of the new architecture and application are noticeable for Deloitte. It allows for easier maintenance as the code is structured by business features. It ensures scalability, and it saves Deloitte a significant amount of time. For example, updating report templates has been reduced from five minutes to just 15 seconds.
