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Streamline the processes related to the consolidation of financial statements in your company
Perform financial consolidation with an experienced implementation partner.
We support companies in the process of creating consolidated financial statements, mainly based on following tools: IBM Cognos Controller, Lucanet and Onestream. We provide the technology and the right finance professionals who will also provide you with support from the content-related side. We will take care of the financial consolidation process in your company so that you can fully focus on the operational side of your business. No worries about upcoming deadlines. Start a financial transformation in your company with the best experts in the field of Corporate Performance Management tools. We unlock the potential of finance departments by implementing tools that unify financial closing, reporting, planning and analysis processes in a single solution with the ability to expand further.
How our implemented tools can help you in the process of consolidating financial statements
Support regulatory financial reporting functions, including US GAAP, IFRS, and Multi-GAAP, and local requirements
Applications are designed to integrate data from multiple sources, have special built-in functionality to support financial close and consolidation
They have all the required security and audit trails
As part of the process of financial consolidation of a company with multiple locations or subsidiaries, we support all branches of the company, regardless of location
When analyzing end-of-period financial results, finance teams often need to make upfront journal adjustments as well as cost allocations to ensure operating profit reporting by department or product line
Direct integration with any open ERP system or data source
Automation of consolidated reports
Automation of the process of consolidation of financial statements can bring many benefits, such as increasing efficiency, reduction of error risk, saving time and resources, and improving decision -making processes. Here are some steps that can help you digitize the process of consolidating your financial statements:
Choose the right software - there are many solutions that allow you to automate the consolidation process. When choosing the right tool, it is worth paying attention to features such as flexibility, functionality, ease of use, compatibility with other systems, and costs
Consolidate data from different sources - digitizing the consolidation process allows you to consolidate financial data from different sources, making your work much easier and reducing the risk of errors
Automate processes - automating processes such as data entry, analysis and reporting can significantly speed up the entire consolidation process
Integrate systems - integrating different systems, such as accounting and reporting systems, can streamline and automate processes, resulting in better efficiency and control over processes
Monitor the process - regular process monitoring and improvements will allow for continuous process improvement
Read more about financial consolidation on our blog
