Danske Bank A/S, who introduced FinOffice4 years ago to manage their market data inventory, has decided to upgrade to BST's FinOffice5 (FinMarketData & FinContract).
After a short upgrade period Danske Bank A/S goes live with FinOffice5 at the end of Q2 2006.
The installation of the new software includes the migration of the database and all existing interfaces to the FinOffice5 product. The Reuters DACS 2-way interface, the Bloomberg interface (local and global SID import and updates), the customized HR interface, the Analyze Report (for budgets) as well as the Web Reporting interface will seamlessly integrate into FinOffice5.
A groundbreaking innovation in the upgrade is the integration of the new Web Reporting. The web and analysis reporting (incl. management reporting) will be displayed on all levels and cost structures at the push of a button. All reports are viewed in a web browser and can be displayed at any time and place.
The most important improvements of FinOffice5 at a glance:
Front End
FinOffice5 – based on state-of-the-art technology – has been developed with a new user friendly front end. Consequently the data records can be displayed in list format or as tree structures. The function of the personalized front end as well as the ability to set data filters greatly enhances the field of use.
Daily Administration
A truly amazing enhanced is the use of wizards to manage daily administration. Recently integrated are drag & drop functions, cost allocations per percentage, additional reporting variants, particularly: year to date, budget and trend reporting (analysis reports), all based on calculations of any date.
Contract Management
FinContract is a highly sophisticated management system that is used to track suppliers' contracts. Some features of FinContract:
- Contract dependent control of volume restrictions on all levels
- Calculation of the last possible date of notice
- On-the-fly calculation for expiring contracts and rollover deadlines
- Alert lead time (number of days before the last date of notice)
- Direct connection from the alert/messaging to the respective contract/service
Reporting
The reporting function in FinOffice5 has been greatly enhanced. The XML reporting is now available for any report (simple customization). Ad hoc reports (activated with the right mouse button) display the current costs at the push of a button. Also a daily automated calculation has been integrated, providing the latest reports without previous daily calculations.