English
Register of Financial Statements – open data as the foundation of a transparent business environment
The Ministry of Finance of the Slovak Republic plays a key role in the management of public finances and in creating the conditions for a stable and transparent business environment.
The Register of Financial Statements is a centralized public administration solution that serves for the storage and disclosure of financial statements and related documents. Its goal is to simplify the business environment, reduce administrative burden, and improve the availability and quality of financial information.
Cooperation
PosAm contributed to the design and implementation of the Register of Financial Statements as a comprehensive solution for the collection, processing, and sharing of accounting data across public administration.
The project was created as part of a state initiative aimed at reducing the administrative burden on businesses and introducing the “once-only” principle.
Challenge
The original model for submitting and publishing financial statements represented a significant administrative burden for both businesses and public institutions.
The challenge was to create a solution that would enable:
- centralized storage and disclosure of financial statements,
- elimination of duplicate document submissions,
- efficient data sharing between institutions,
- increased transparency of the business environment.
Solution
PosAm designed and implemented the Register of Financial Statements as a central repository of financial statements and related documents.
The system provides a wide range of functionalities:
- import of financial statements and documents from multiple sources,
- access to data through a web interface,
- data provisioning via an application programming interface (API),
- data analysis and reporting using business intelligence tools.
A key element of the solution is its integration with other public administration information systems, enabling efficient data sharing without the need to repeatedly submit documents.
Value for the client
- Reduced administrative burden for businesses and public institutions
- Simplified processes thanks to the “once-only” principle
- Greater transparency of the business environment
- Availability of high-quality financial data for decision-making
- Efficient data sharing across public administration
Result
The Register of Financial Statements represents a groundbreaking solution in the digitalization of public administration, which has significantly reduced the administrative burden of doing business, increased the transparency of financial information, and contributed to the improvement of the business environment in Slovakia.
The project confirms PosAm’s ability to design and deliver complex IT solutions with a significant impact on the functioning of both public administration and the business environment.
The Register of Financial Statements has taken just as big a step toward transparency in Slovakia’s business environment as the online Business Register did years ago. What’s more, the register does not represent any additional administrative burden for companies, and communication with public authorities is in fact made simpler.
With the launch of the Register of Financial Statements, Slovakia became one of the few countries to publish corporate financial data online in a usable form, and one of the very first countries to turn corporate financial data into an Open Data Set (the second after the United Kingdom). In terms of completeness and usability of data, Slovakia has overtaken most European countries.
The API is simple and functional and is capable of efficiently providing data even to more complex applications. There is nothing left but to praise it.
