From 1.1.2014 business will no longer be obliged to present their financial statements to countless institutions, but will instead present them just to the Financial Administration of the Slovak Republic. This system lets businesses publish their accounting documents in a simple way without excess burden. The system will comprises a central database where all other state institutions can access the necessary information without bothering the actual businesses. Businesses will not only save time with the new system, but also about half a million euros a year, because entering data to the register will be free of charge.
When developing the solution, PosAm applied its own know-how in the creation of complex information systems, combined with a wealth of experience in managing complex software projects. Producing the technical solution itself was just one of the challenges we faced.
The fact that historical data were also to be entered to the system produced some heavy demands for the identification, collection, processing and consolidation of data from all involved parties. For the period of 2009-2011 alone there are 1 144 279 sets of financial statements in the system from 503 047 entities, comprising 2 280 995 financial statements, 1 612 448 annexes and hundreds of gigabytes of data. The information that is publicly accessible is just the tip of the iceberg, though, because a large part of the data cannot be made public for legislative reasons.
A crucial part of the system lies in the advanced analytical tools for the formation of statistical outputs and reports. In addition to a common data base, the BI also provides part of the high added value of the solution as a whole. It is thanks also to this that we will be able to get valuable information about the economics of companies online and not one year later, as was the case to date. From a technical perspective, the tools allow the elaboration of reports on request in real time pre-prepared data. The data cube currently holds some 36 million records and computed data for 1.4 trillion cells.
The Financial Statements Register is available at www.registeruz.sk. You can also get more information from the PosAm website.