"Transparency, as used in science, engineering, business, the humanities and in a social context more generally, implies openness, communication, and accountability"
"In social enterprises, it is influenced by the set of policies, practices and procedures that allow citizens to have accessibility, usability, utility, understandability, informativeness and auditability of information held by centers of authority" – Wikipedia
Transparency is a great tool to fight corruption or abuse of resources by authorities. It has turned from a "good to have" into a "must have" quality in recent times. For organizations which operate on funds collected from public, taxpayers, sponsors, donors or any such source, it has become a requirement and in some cases mandatory, to provide complete details of how these funds are collected, managed and spent. This mostly include information related to questions such as how much resources were collected, what was done with the resources and when?
Stakeholders are interested in getting a complete picture of the resource management and make sure that they were spent right. OpenReporting is helping organizations to meet such transparency demands and in the process contribute to transparency in a whole.
To increase transparency, Organizations should bring in greater disclosure, clarity, and accuracy - three primary dimensions of transparency - into their communications with stakeholders. For example, governance decisions to share information related to a firm's expenditure information indicate disclosure; decisions to limit the use of technical terminology, fine print, or complicated mathematical notations in the correspondence indicate clarity; and decisions to not bias, exaggerate, or otherwise distort known facts in the communications indicate accuracy.
OpenReporting focuses on all three dimensions of transparency, to help organizations build trust with their stakeholders. OpenReporting helps you to publish your financial information to a very large audience, through our easy to use drilldown reports, allowing the visitors to analyze the data from the top level summaries to the lowest, transaction level details.
Check out this Demo to see it in action!