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, and converting reports into SEC-compliant HTML with embedded XBRL tags. 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 the software, stating it marks a new era in SEC financial reporting by freeing humans from tedious tasks to focus on strategic work. The software's intuitive design requires no setup or training, making it immediately accessible to both first-time and repeat filers, and is expected to result in substantial cost savings for companies by reducing reliance on third-party providers.
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 the increasing demand for scalable, efficient, and intelligent reporting tools amidst growing financial data complexity and compliance costs. The company plans to showcase its platform in an upcoming technology-focused roadshow, inviting investors, industry experts, and public companies to explore potential collaborations.
