Group consolidation

Fast, accurate and detailed reporting is more important than ever. The demand for details seems to increase every quarter, and the responsibility often falls on the group accounting department. We know how to design and implement consolidation solutions that automate repetitive tasks and can be maintained and developed by our customer internal resources.

Utilizing proven and scalable tools that transcend traditional silos is crucial to be able to adapt to the ever-growing need for information. We can help your organization to collect, consolidate and report high quality figures. Additionally, a dedicated consolidation solutions will bring in the system support to ensure guided reporting process and high-quality reports.

From high level reporting to detailed process driven approach

Consolidation tools are frequently used to report financial data at a high level. This often leads to additional tasks and responsibilities for the finance department, as they need to clarify specific financial trends or values and reconcile figures for the reports.

Your organization can save a significant amount of work if all reporting units are guided to process driven, complete and accurate reporting with a final sign-off that provides assurance to both the reporting unit and the group controlling department. Imagine what a relief it is to be able to report at a detailed level, satisfying both internal and external reporting and reconciliation needs. Moreover, delegating this responsibility to the entity that truly knows and understands the figures streamlines the process.

Benefits of moving reporting and group consolidation to a dedicated solution are:

• Reduce cumbersome workload for reporting staff
• Add system support to ensure process-driven, high-quality reporting
• Assign reconciliation responsibility to reporting entities
• Provide users with easy-to-understand and visible reconciliation rules
• Perform tasks efficiently and repeat the process effortlessly
• Grant main users a solid audit trail from reported values to consolidated figures
• System owned and maintained by the finance department

IBM consolidation platform in a nutshell

IBM Controller is one of the marked leading reporting and consolidation solution and highly scalable ranging from 2 to 7000+ reporting units in a single close.

A dedicated consolidation platform allows integrating different data sources. This is a crucial time-saving step that should be a priority. It eliminates tedious tasks from a person’s workload, allowing machines to handle what they excel at. This lets humans focus on analysis and decision-making.

IBM Controller provides a convenient way for everyone involved in financial close to participate and collaborate on one platform. Whit it you can get rid of manual data input, minimize the risk of mistakes and errors and free time for value adding tasks. These work enhancements will make consolidation platform an investment that you shouldn’t overlook.

Contact us today to learn more about how our consolidation solutions can make a significant difference in your financial reporting workflow.