Focus Universal Inc. Unveils Fully Automated SEC Reporting Solution
TL;DR
Focus Universal Inc. introduces a fully automated SEC reporting solution, offering a significant time and cost advantage over competitors with its one-click, end-to-end automation.
Focus Universal's AI-driven software automates the entire SEC financial reporting process, from data retrieval to XBRL tagging, eliminating manual steps and reducing errors.
By streamlining SEC financial reporting, Focus Universal's technology reduces manual labor, allowing professionals to focus on creative and strategic tasks, enhancing workplace efficiency.
Discover how Focus Universal's innovative software transforms weeks of SEC financial reporting into minutes, showcasing the power of AI in regulatory compliance.
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Focus Universal Inc. (NASDAQ: FCUV), a leader in patented hardware and software design technologies for the Internet of Things (IoT), 5G, and SEC Financial Reporting, has announced the launch of its fully automated SEC reporting solution. This innovative platform stands out by offering a one-click, end-to-end automation process that transforms the traditionally complex, costly, and time-intensive SEC financial reporting into a streamlined, efficient operation.
The new solution by Focus Universal retrieves financial data directly from accounting platforms such as Oracle and QuickBooks, reformats and consolidates data in Excel, automatically generates consolidated financial statements, and populates Word documents for SEC filings. It further converts reports into SEC-compliant HTML and embeds accurate XBRL tags without human intervention, featuring built-in validation checks for internal consistency and XBRL compliance.
Desheng Wang, CEO of Focus Universal, highlighted the significance of this development, stating, "This milestone represents a new era in SEC financial reporting. When turnaround time is reduced to just minutes, reporting is no longer a burden." The software's ability to eliminate manual data entry and reduce the risk of human error positions it as a transformative tool for public companies and filing agents alike.
Compared to competing products that require 2–3 weeks for initial setup and offer only semi-automated solutions, Focus Universal's software is ready to use immediately with no setup required. This efficiency is particularly beneficial for first-time filers, who can achieve nearly the same level of efficiency as repeat filers, thanks to the software's independence from prior data.
The Financial Reporting Software Market, valued at US $13.9 billion in 2022, is projected to grow to US $36.6 billion by 2030, driven by the increasing complexity of financial data and the high cost of compliance. Focus Universal's solution addresses these challenges head-on, offering a scalable, efficient, and intelligent reporting tool that significantly cuts preparation and revision time for public companies.
Curated from NewMediaWire
