Focus Universal Inc. (NASDAQ: FCUV), a leader in patented hardware and software design technologies for the Internet of Things (IoT), 5G, and SEC Financial Reporting, has unveiled a fully automated SEC reporting solution. This innovative platform is set to revolutionize the way public companies handle their financial reporting by leveraging artificial intelligence to automate the entire process from data retrieval to filing.

The traditional SEC financial reporting process is known for its complexity and the significant amount of time it consumes, often involving multiple steps such as preparing consolidated financial statements, drafting reports, converting documents into SEC-compliant HTML, and embedding XBRL tags. Focus Universal’s solution addresses these challenges head-on by offering a one-click, end-to-end automation that retrieves financial data directly from accounting platforms, reformats and consolidates data, generates financial statements, and prepares SEC-compliant filings without human intervention.

What sets Focus Universal’s solution apart from competing products is its ability to reduce the SEC report turnaround time from weeks to minutes, eliminate the need for initial setup, and require no training for use. This efficiency is particularly beneficial for first-time filers and large organizations, where the complexity and volume of financial data can significantly delay the reporting process. The software’s built-in validation checks further ensure accuracy and compliance, minimizing the risk of errors and the need for extensive proofreading.

Desheng Wang, CEO of Focus Universal, highlighted the significance of this development, stating that it marks a new era in SEC financial reporting by freeing humans from tedious tasks to focus on more strategic work. The solution is not only a boon for reporting companies but also for filing agents, who can use it to speed up the edgarization and XBRL tagging processes.

With the Financial Reporting Software Market projected to grow to US $36.6 billion by 2030, Focus Universal’s timely innovation addresses the increasing demand for efficient, scalable, and intelligent reporting tools. The company’s solution is poised to offer substantial cost savings and operational efficiencies for public companies, making it a critical development in the financial reporting landscape.

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