Focus Universal launches SEC financial reporting AI-driven automation software

Focus Universal announced its commercial launch of SEC financial reporting automation software. Financial reporting is the process by which an organization communicates its financial performance to stakeholders. Companies routinely file financial reports, such as 10-K and 10-Q to the SEC, to give a comprehensive view of the financial health of the organization. Reporting deadlines are inflexible, and late filings and mistakes in financial reporting can result in regulatory review, enforcement actions, and penalties. However, data entry by humans of hundreds or thousands of financial numbers in these reports imposes a challenge and presents risk of human error. Preparation of these reports is not only costly but also time-consuming. Reporting requirements can interfere with other business and operational timelines and leave an already strapped team scrambling for the resources needed to meet mandated reporting requirements.