Embedded Financial Data Analytics System Security
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Large companies face significant resource and time challenges in collating and processing financial data from disparate systems, and are concerned about the security and confidentiality of this data when it is exported to external financial experts for processing.
Innovation Solution
A financial data processing and analytics system is created within the company's native environment, secured by a cryptographic technique, which includes a financial data processing unit and a security layer that filters, processes, and generates reports from raw financial data, while restricting access and monitoring connections to ensure data security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If financial data is downloaded or transferred from ERP systems to external financial experts, then the financial experts can process and analyze the data, but the company loses control over data security and confidentiality
Solution Approach 1:
The patent embeds the external financial expert's data processing system within the company's native environment. The financial expert's processing unit is nested inside the company's infrastructure, allowing data processing to occur in-place without exporting data externally, thus maintaining security while enabling processing capabilities
Solution Approach 2:
The patent introduces an embedded processing unit as an intermediary between the company's ERP systems and the external financial expert. This intermediary allows the financial expert to access and process data without direct external connection, acting as a secure bridge that maintains both processing capability and data security
2Quantity of substance
If the company deploys ERP systems at many different locations to aggregate financial data, then data collection is comprehensive, but the complexity of locating and confirming data across systems increases
Solution Approach 1:
The patent creates a universal embedded data processing unit that can interface with multiple disparate ERP systems across different locations. This single processing unit serves multiple functions by connecting to various data sources, aggregating financial data from all locations without requiring separate processing arrangements for each system
Solution Approach 2:
The patent combines multiple data collection functions into a single embedded processing unit that resides within the company's environment. Instead of managing separate processing arrangements for each ERP system location, the financial expert's processing capabilities are merged into one unified embedded system that can access all necessary data sources
3Productivity
If large amounts of financial data are transferred externally to financial experts, then comprehensive analysis can be performed, but the resource and time requirements increase significantly
Solution Approach 1:
The patent establishes the embedded processing unit in advance within the company's native environment, with direct access to ERP systems. This preliminary setup eliminates the need for time-consuming data extraction and transfer operations, as the processing unit is already positioned to access data sources directly when needed
Solution Approach 2:
The patent enables continuous data processing by having the financial expert's processing unit permanently embedded within the company's environment. Instead of periodic batch transfers that interrupt workflow, the processing capability operates continuously with direct access to data sources, maintaining uninterrupted analytical operations
Data Source
AI summary
A data processing and analytics system for processing financial related data includes a financial data processing unit that is secured by a security layer. The financial data processing unit and the security layer are embedded in a company native environment. The company has a plurality of data sources for providing raw financial data that is filtered by the security layer prior to transfer to the financial data processing unit. The financial data processing unit includes a raw data storage unit for storing the raw financial data, and a data processing unit for processing the raw financial data via one or more preloaded audit applications. The processed financial data is then employed to generate one or more financial reports that are then transferred to the financial expert externally of the company.