With WingsPlus: Annual Statements, you can prepare annual and quarterly statutory financial statements any time during work or off-hours, with fewer resources and a greater ROI. Whether delivered from the cloud or installed locally, everyone can work together in one reporting environment all at the same time. Users can quickly update WingsPlus: Annual Statements using its native interface or by exporting and importing data from/to a number of formats, including Microsoft Excel – where the reporting possibilities are endless. Click-Once is a Microsoft technology for hosted clients that makes it quick and easy to deploy and update software.
With internal controls, WingsPlus: Annual Statements managers can document and enforce company financial control policies. They can segregate duties to each user (what to do and where to do it) – down to each individual statement page – and can use event logs to track all activity performed in the application (including the who, what, and when). Once a given page is considered final, managers can lock the page against future changes, by filing period or overall, and users can still view and print as needed.
WingsPlus: Annual Statements stores every unique number just once within a statement. When a particular number needs to go to multiple pages within a statement, WingsPlus: Annual Statements uses the “one-to-many” method like in Microsoft Excel. If a number is changed in the original page, the same change flows to connecting pages after they are opened. Plus, values can trace back to their original source, right down to the exact cells, using a unique “drill-down” method. WingsPlus: Annual Statements can also store attachments once and link them to multiple statements. All attachments, such as Notes to Financials, Org Charts, and secured PDF files like Actuarial Opinions, will embed in each statement in perfect format.
Because validations or “cross checks” run constantly to verify numbers while work is in progress, there is no need to run lengthy validation processes before review. Any errors found are displayed in a viewer within each page. From this viewer, users can navigate directly to the offending numbers and make the necessary corrections. Multiple tasks run concurrently – so there’s no waiting for a process to stop before another can start. Users can import into one statement, print another statement, and edit a page in a third statement – all at the same time. Lastly, users can do a “final check” and audit on each statement before using a single, fully-automated step to create the NAIC required filing.
With WingsPlus: Annual Statements, statutory reporting is streamlined and fast.