Cloud-driven audit, financial reporting and data analytics solutions firm Caseware International has launched a cloud-based financial reporting solution, dubbed Caseware Financials, for the UK market.

Through the new application, Caseware International aims to support accounting practitioners across the world to work smarter and more efficiently.

According to the company, its Caseware Financials tackles the inherent challenges of financial reporting processes.

Operating as a cloud-based application, the new solution offers frictionless aids in the preparation, review, and delivery of professionally formatted and precise financial statements.

The solution’s user-friendly interface and robust features empower users to create compliant year-end accounts with minimal effort, thereby substantially decreasing the total cost of ownership in comparison to alternative solutions.

Caseware Financials will help in the automatic drafting of financial statements, optimised data imports with intelligent mapping suggestions and multi-user access for enhanced collaboration.

The solution will also feature carry forward functionality, built-in review tools with warnings and diagnostics, and fully automated tagging that will enable client to export instance document in an HTML format.

Besides, Caseware Financials addresses manual processes, data integrity, rounding errors, cross-checking and validation, changing accounting standards, and document management complexities.

The new application automates financial statement preparation through a customised checklist, importing and mapping data directly from Excel, CSV, and accounting packages.

It also provides customisation and flexibility, enabling users to improve reports to meet specific organisational needs along with guaranteeing compliance with the latest reporting standards.

Furthermore, Caseware Financials includes intelligent mapping suggestions, enhanced review tools, multi-language support, and localised content across various geographies.

The company said that the integration of the new application within the Caseware ecosystem offers a consolidated platform for interconnected financial data and reports.

Caseware International global solutions vice president and head Simon Warren said: “Caseware Financials is an intuitive, fast and user-friendly solution that can help easily prepare, review and deliver professionally formatted and accurate financial statements in the cloud.

“Practices will see improved efficiency and save time by leveraging Caseware Financials to effortlessly generate compliant year-end accounts with just a few clicks.”