Focus Universal Inc. (NASDAQ: FCUV), a leader in hardware and software design technologies for IoT, 5G, and SEC Financial Reporting, has unveiled a fully automated, AI-driven SEC reporting solution. This innovation promises to transform the traditionally complex, costly, and time-intensive process of SEC financial reporting into a streamlined, efficient operation.
The new solution automates the entire SEC reporting process, from retrieving financial data directly from accounting platforms like Oracle and QuickBooks, to generating consolidated financial statements, populating SEC reports, and embedding XBRL tags without human intervention. This end-to-end automation reduces what used to take weeks of manual work to just minutes, offering a significant competitive advantage over semi-automated solutions currently on the market.
Desheng Wang, CEO of Focus Universal, highlighted the transformative potential of this technology, stating, "This milestone represents a new era in SEC financial reporting. Our software allows computers to handle the most tedious, repetitive tasks, freeing humans to focus on creative and strategic work."
The financial reporting software market, valued at US $13.9 billion in 2022, is projected to grow to US $36.6 billion by 2030. Focus Universal's solution addresses key industry challenges, including the high cost of compliance and the need for scalable, efficient reporting tools. By eliminating manual data entry and reducing the risk of human error, the software not only enhances accuracy but also offers substantial cost savings for companies.
Focus Universal's technology is designed for immediate productivity, requiring no setup or extensive training, unlike competing products that may take weeks to implement and days to learn. This ease of use, combined with the software's ability to handle both regular and first-time filings with equal efficiency, positions Focus Universal as a pioneer in the financial reporting software space.
The implications of this announcement are vast, offering public companies and filing agents a tool to dramatically accelerate the SEC reporting process, reduce reliance on third-party providers, and mitigate the risk of compliance errors. As the financial reporting landscape continues to evolve, Focus Universal's AI-driven solution sets a new standard for efficiency and accuracy in SEC compliance.
