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DataTracks Launches Aurora for Streamlined Malaysian Business Reporting

Prime Highlights: 

DataTracks Aurora leverages AI to streamline and automate the process of preparing financial statements for the Malaysian Business Reporting System (MBRS). 

Designed to simplify compliance with the mandatory digital filing of financial statements in XBRL format, which began in December 2024. 

Key Background: 

DataTracks, a global leader in cloud-based compliance reporting solutions, has unveiled DataTracks Aurora, an AI-powered XBRL platform designed to streamline compliance with the Malaysian Business Reporting System (MBRS). The launch follows the mandatory digital filing of financial statements and annual returns in XBRL format, which began in December 2024. 

The MBRS, introduced by the Companies Commission of Malaysia (SSM), mandates digital submissions for financial data. With this transition, businesses face the challenge of adapting to complex reporting requirements. DataTracks Aurora is designed to simplify the process, offering a robust solution that ensures accuracy and efficiency while meeting the MBRS submission guidelines. 

Pramodh Vittal, Senior VP of Product Design at DataTracks, emphasized, “Aurora is engineered to significantly reduce the time and effort required for XBRL preparation. Its AI-powered platform automates the process, allowing accounting and audit firms to streamline their work and reduce manual input.” Aurora ensures that any updates made to financial statements are reflected instantly in the corresponding MBRS templates, preserving data integrity throughout. 

Addressing the challenges of mapping complex financial data to MBRS templates, Aurora’s automation feature allows users to reuse mappings across similar entities, potentially reducing preparation time by up to 80%. The platform also features a smart review and validation system that simplifies the verification process, ensuring error-free submissions. 

Aurora’s user-friendly interface, combined with secure access controls and role-based management, further enhances its functionality, making it an invaluable tool for businesses and professionals in Malaysia. Rashmi Ravindran, VP of Sales – APAC at DataTracks, concluded, “Aurora transforms the reporting process, enabling accountants to complete multiple MBRS filings in the time it once took to file just one.”