SAP BusinessObjects Financial Consolidation can provide you with the confidence to close your books quickly by enabling

• A faster close through streamlined financial consolidation and reporting processes – without sacrificing data quality
• Safe adaptation to changing needs without having to rebuild or destroy previous reporting scenarios, saving time and money
• Confidence and corporate compliance with reliable data for legal reporting and management decisions
• consolidate and aggregate financial and operational data from various sources and locations to establish a single, integrated global view of business information across the organization in a swift and reliable way. It connects the people, processes and information that support financial consolidation and governance, auditing processes and assists with regulatory compliance.

Exact Synergy Enterprise financial consolidation provides the consolidated overview of the key financial figures of your enterprise. It facilitates financial reporting at the individual company level, group level and consolidated group level. It’s capable of consolidating different functional currencies and dealing with various accounting standards. It also works with various input sources and different kinds of ownership relations.

Exact Synergy Enterprise Financial Consolidation Business Benefits

• Rapidly identify problem areas such as underperforming products or business units
• Use reporting processes that are supported by automation, workflow management and data entry validation
• Easily measure actual vs. targeted performance
• Achieve multi-level reporting as well as consolidation at multiple levels
• Eliminate the broken processes and systems linked to manual data entry, late delivery from reporting units, a lack of validation and controls and poor integration with source systems
• Every division can work with their own (legally required) General Ledger (G/L) account scheme
• Seamless multiple currency integration and clear insight into translation differences
• Generate consolidated Balance Sheet and Profit & Loss statements
• Historical information is always maintained and accessible
• Provides a forum for sharing knowledge and discussing issues, so financial information becomes an enterprise-wide initiative
• Report multiple ownership entities by time period and make automatic adjustments for multiple ownership consolidation methods
• Create a variety of income statements and balance sheets, including year-to-date current vs. prior year; current period; current period-to-date and more
• Keep track of audit report changes

IBM Cognos® 8 Controller sets the standard for financial consolidation software with a comprehensive suite of capabilities for financial consolidation, and management and financial reporting. It delivers the timely, accurate information that Finance organizations need for regulatory compliance, planning, analysis and performance management.

Prepare local or global financial consolidation

• Consolidate multiple views of the enterprise from legal, management, and tax perspectives, or in terms of budgets, actuals, plans and forecasts.
• Automate allocations between companies, accounts, and business dimensions.
• Perform advanced formula calculations using YTD values, averages and multiple periods, combining financial and non-financial metrics.
• Present certified financial results in multiple reporting and transaction currencies.
• Make investment adjustments for complex ownership situations, such as region-specific consolidation and reporting for Brazil, Denmark and the Netherlands.

Finance manages the process

• Save time with more than 200 pre-configured, ready-to-use reports.
• Accommodate mergers, acquisitions or reorganizations with ease. Update structures or business rules once and see changes reflected throughout the application—automatically.
• Amend entities, structures and account details without coding, scripting, or complex language to create and test.
• Ensure data consistency with a validation process that reconciles data for accuracy and notifies you immediately of any inconsistencies.

Financial reporting and analysis from a broader perspective

• Provide critical data for regulatory compliance, including Sarbanes-Oxley (SOX), IFRS and multi-jurisdictional GAAP reporting.
• Model alternative business scenarios and assess their impact by entity, business area, product or customer with detailed “what-if“ analysis.
• Use standard reports, measurements and metrics to deliver operational, management and financial information for scorecarding, dashboards and ad hoc analysis.

Integrate easily with current and future IT environments

• Enjoy highly scalable, high- performance, OLAP-style analysis and reporting using a warehouse created by seamless integration with IBM Cognos TM1.
• Perform data entry, modeling and calculations with an embedded Microsoft® Excel® interface.
• Ensure current and future support for your investment with a centralized, open-standards database and the enterprise-class architecture of IBM Cognos Business Intelligence.

If you need more information or would like to get free assessment and solution concept contact us.