Opiferus® DATA-DRIVEN SUCCESS
opiferus
FINANCIAL DOCUMENT
Efficiency and clarity for the municipal financial document process through automation
Opiferus® Financial Document has been designed in collaboration with municipalities to address the process of compiling regularly produced financial documents – no more “cut-and-paste” challenges.
Automate all of your municipality’s financial documents, such as annual reports, budgets, interim reports, and monthly reports. With Opiferus Financial Document, you can create a clear, cohesive, and visual document that meets the needs of all stakeholders and supports decision-making.
OPIFERUS FINANCIAL DOCUMENT AT A GLANCE
Automation
Automatic updates for financial tables.
Efficiency
Ease
Deployment
Forecasting
Accessibility
OPIFERUS FINANCIAL DOCUMENT MUNICIPALITY CLIENTS
COMPLETED FINANCIAL DOCUMENTS
AS A MUNICIPAL PARTNER
FROM ORDER TO DEPLOYMENT
Opiferus® Financial Document:
Data Import
Past data is quickly accessible and transferable to Softwave software, saving time and effort during deployment. If a municipality adopts another Opiferus® solution, data transfer happens automatically.
Customization
The software enables the creation and linking of various performance tables and graphics to facilitate data management, decision-making, readability, and document accessibility. The Financial Document also supports sector-specific data entry from multiple sources, such as budget targets, actions, and indicators.
Consistency
Once the document’s layout, fonts, and sizes are set in the design tool, these settings remain consistent even with multiple data contributors. The layout reflects the customer’s graphic guidelines, resulting in a polished, easy-to-read financial document.
Sharing
The completed financial document can be shared as a whole or in sections with different committees or recipients as needed, streamlining information sharing and collaboration within the organization.
Versatility
The application allows for the decentralized, automated creation of all required financial documents, including budgets, annual financial reports, interim reports, and monthly reports. This reduces manual work and ensures quality and consistency across documents.
FREQUENTLY ASKED QUESTIONS
What is the Goal Tool?
How do I automate a financial document?
At the project outset, fonts, color schemes, and style details based on the customer’s guidelines are configured, ensuring they’re pre-set for all future document work.
What sections should a budget document include?
Operational Objectives: The municipal budget should define goals and plans for the upcoming year, such as education, infrastructure, and other public services.
Revenue Estimate: An estimate of the municipality’s income for the coming year, including tax revenues, state contributions, fees, and reimbursements for various services.
Expenditure Estimate: A plan for municipal expenditures for the upcoming year, covering personnel costs, investments, service production costs, and debt servicing.
Investment Section: A separate investment section for large projects and investments, such as new schools or road expansions.
Financial Plan: A multi-year financial plan, often accompanying the budget, which helps the municipality plan its finances over the long term.
Balance Sheet: An optional balance sheet that reflects the municipality’s financial standing at a given time, showing assets, liabilities, and equity.
Appendices: Background information, calculations, and explanations for different budget sections.
What sections are sometimes overlooked in the budget document?
Unexpected Costs: Emergency or crisis expenses, with a reserve for unanticipated costs.
Inflation and Price Changes: Account for the impact of inflation on costs and price increases for goods and services.
Tax Increases and Cuts: Planned tax increases or cuts should be reflected in the budget.
Community Needs and Expectations: Tracking resident feedback to adapt the budget to meet changing needs.
Risks and Uncertainties: Considering risks, such as changes in weather, population shifts, or legislative changes.
Environmental and Sustainability Factors: Taking climate goals and eco-friendly investments into account.
Personnel Costs and Skills Development: Anticipating potential growth in personnel costs for raises, training, and recruitment.
Communication and Participation: Resources for communication and fostering involvement, allowing residents and stakeholders to engage in the decision-making process and monitor municipal finances.
Can AI be used in financial documents?
Yes! Opiferus Financial Document allows you to generate text based on existing financial tables. AI-generated text can be used as is or adapted to meet specific needs. We continually develop our AI capabilities. Learn more in our AI Guide:
https://softwave.fi/ajankohtaista/tekoalyn-tulevaisuus-ja-sen-hyodyntaminen-kunta-alalla/
How can I track data entry by sectors during the process?
What reports can be generated with Opiferus Financial Document?
Approval feature as a threshold condition – the customer story of Sipoo municipality
The Municipality of Sipoo sought to focus on improving financial processes and centralizing reporting from officials to politicians and citizens in one place. Previously, data was extracted from financial systems and then manually embedded as images into financial documents. The municipality decided to find a partner to eliminate this manual work and replace it with maximum automation of numerical data. Sipoo began its collaboration with Softwave in October 2023.
Hamina city’s successful digital leap
The City of Hamina has been a customer of Softwave since 2021. Currently, the organization
uses the Opiferus® product family, including the Financial Document and Financial Planning
solutions. The Opiferus® Management Dashboard is still in its implementation phase.