BARS also implements full localisation of accounting standards thus avoiding the need to spend large amounts of time and money on localising core banking systems and often reducing their ability to differentiate the client from all the other local competitor banks.

BARS is a component of the GCP Localisation Suite of products.

Data Warehousing

• Data load from different sources
• Centralised data storage and administration
• Unified data model for the local regulatory reporting and IAS reporting
• Historical data and ability to create historical reports
• Aggregated data is calculated and stored for reporting:
• Deal balances and turnovers
• Account balances and turnovers
• GL accounts balances and turnovers etc.
• There are daily and monthly aggregated tables for each report
• Possibility to input missing data, directories
• Possibility to adjust aggregated and calculated financial data
• Platform independence
• Openness for the future development

Data Processing / Accounting Transformation

• Independent accounting layer that complies with the local accounting standards — Accounting Engine. Accounting Engine takes events from the Banking Systems and translates them into accounting entries.
• Flexible configuration and set up
• LAS (Local Accounting Standards) accounting general procedures
• IAS (International Accounting Standards) accounting general procedures
• BAS (Bank Accounting Standards) accounting general procedures
• Separate products localisation — event based accounting:
• Additional postings generation
• Postings suppression (IAS/BAS sign set up)
• Possibility to retain existing Chart of Accounts and all transactions, which allows report based on IAS, BAS & LAS principles
• No need to support an additional local banking system
• One main banking system, no need to synchronise accounting data between different banking systems

Reporting

• Central Bank reporting
• Local tax reporting
• Management reporting
• Multidimensional reports (OLAP) for analytical purposes.
• Different output formats:
• ready for printing
• Central Bank file format (different regional Central Bank formats)
• Acrobat Reader
• export to the template in Word, Excel and PowerPoint
• Reports with any level of detail — drill down from GL account to the account or deal
• Reports delivery to the users (e-mail, ftp)
• Reports sophisticated scheduling
• Reports OLAP versions
• Reports archiving
• Report versions
• Inter reporting control
• Data consolidation
• Report templates
• Data corrections in the reporting system
• Supports production of localised customer documents, ie: account statements

Flexibility

• Transformation procedures set up
• Reporting algorithms set up
• Missing data input
• Parameters with the validity dates

Future extension

• Can set up Business Objects “Universes” for specific areas such as lending, CRM, customer profitability &c.