ETL, ANALYTICS AND REPORTING PLATFORM

On early days of our platform, our goal was to develop a software to help the audit companies look at their customer’s financial information and help them on their analytics tasks.

Col.bi was developed with the idea to provide an easy way for the companies to check their financial “health” and ensure compliance to the tax authority, internal audit and other regulatory entities. Also to deliver a very straightforward and easy web tool, that could be used by everyone and without any particular training, providing valuable and rich outputs from companies accounting and commercial records.

Companies were sending non-compliant information to the tax authority (the Standard Audit File that has to be produced by all the management software and sent to the Tax Authority), is usually with errors or showing up accounting guideline errors or inconsistencies with the sales and distribution data, e.g. total amount of the invoices issued differs from the accounting records posted.

Companies were evaluating their compliance directly on the Tax Authority Portal, dealing with technical problems and checking only the syntax of the Standard Audit File and not its content.

The usage and the complexity of the ERPs and Management Software is a barrier for the ordinary manager to check and explore the company’s accounting and sales information (the software licensing costs also increases for that purpose) and there was no cross ERP/Management software to produce company information.

Colbi is the solution

Big Data Analytics, Customizations, User Defined Reporting, Views, Forms, integration were introduced on Col.bi.

Col.bi is a full stack platform to automatically process analytical contents and provide information about a company. It can use raw data from several sources, namely the Portuguese mandatory Standard Audit File for Tax Purposes (SAF-T PT).

Col.bi is a cloud based solution, using Big Data Technology to extract and transform raw data sources into comprehensible and easy to explore reporting information .

Our vision was to develop a simple yet powerful system than can be used as an audit platform, focused on analysing financial information, or as a tool to create explorable data marts and information repositories.

Where we can define the end-to-end process, from the extraction of the file to the data exploration, passing through mapping, mining and data mart creation.

A SIMPLE USE CASE PROCESS CAN BE DESCRIBED WITH THE FOLLOWING DIAGRAM
As a management tool
by a Sales Manager

All the sales information about products, clients, market quotas and more, can be assessed by the Colbi navigation features

On an Internal Audit
by a CFO

We can check if the accounting procedures are being held correctly and crosscheck information from the sales documents to the accounting, making sure all the integration between modules or systems is being done. Inconsistencies can be immediately spotted on the platform.

To perform a due diligence
by an Investment fund

Checking the number of customers with actual sales (not only the ones that are registered on the ERP), top clients, client ratings based on external information, products on sales, crosschecking between sales and accounting, are some of the information that we can get from Col.bi.

To help on a risk assessment of a supplier
by a customer on a marketplace

Based on the customer ratings, we can perform a simple due diligence on our customer, looking at the quality of their accounts receivables. Their current ratio can be influenced and their capability to assume supply chain commitments.

To make sure the information is properly published
by a company to the Tax Authorities

To reduce the so called “false positives”, the data quality rules from Col.bi, produce a finding’s list so the company can see which information is not correct or uncompliant. The “drill down” capabilities from Col.bi, let the user go from the possible error to their source, a set of transactions or a single transaction over millions of records.

To be used on an External Audit
by a Chartered Accountant

Financial reporting like a profit and loss and a balance sheet can be obtained from Col.bi. We can use the platform to get trial balances and detailed account statements, without any knowledge from the source ERP and with much more reliable information (the information is the one that was published to the tax authority).

To ensure compliance
by a regulation institution or authority

Information from the companies can be crosschecked with other subsystems that an institution held for the given purposes, for instance on a taxing authority, we can use Col.bi to cross check the submitted information on the sales VAT report to the information submitted by the standard audit file.

To audit the ERP procedures
by a CIO creating audit rules

The IT Department can create their own rules, to help ensure the ERP compliance or just to assess data quality and integrity from the subsystems. Like a regulation institution, the CIO can be vigilant on the company’s information system, using Col.bi’s rules engine.

Col.bi Platform can be used as a Service in a SaaS/PaaS model (Software as a Service/Platform as a Service) on our cloud or on the company’s private cloud.

If you use our cloud (currently Col.bi is hosted on Microsoft Azure), there is no technological setup needed, you only need to sign-up.

If you desire an “on-premises” system, you can also have Colbi on an appliance (Software + Hardware + Col.bi). There are 3 options for you to choose, depending on your company size or needs.

appliance options