Finansiel konsolidering

Financial consolidation

Better consolidation with a system supported budget solution

Better consolidation
with a system-supported budget solution

Financial Consolidation can be a challenge

Financial accounting for organisations is often a complex and heavy process that that demands high competencies, overview and resources. At the same time, the requirements for the deadline for monthly reporting and the extent of the reporting are constantly sharpened.
As a natural consequence of globalization, many companies expand across borders and hence also reporting rules and practices. At the same time, both new firms and subsidiaries may arise. In addition, acquisitions often become a dilemma in regards to the accounting plan. Should one make a common budget nomenclature or should everyone use the parent company's budget nomenclature?

Want to improve you budgeting?  
A man in a suit and tie is smiling for the camera.
"We downloaded Jedox ourselves, ran some integration tasks, uploaded our data, crunched the numbers, and liked what we saw.”
Klaus Hosbond Skovrup 
VP, NNIT

The right enterprise solution

As financial consolidation becomes supported by  automated and generalised system support, a "fast-close" process is made possible. Here consolidation is made possible on all levels (subgroups, the entire group, etc.). You can optimize and automate the consolidation process to minimize manual tasks and reduce the risk of errors. 
As fewer tasks are handeled manually the entire process becomes more efficient. 

Since automated processes also eliminate errors, it becomes easy creating transparency, forming an overview, understanding eliminations, exchange rates and adjustments etc.

The market offers several software solutions that handles everything within consolidation, currency conversion, elimination and various recognition criteria. This could include equity methods, cost and line-by-line in a database-supported and automated manner.

It provides assurance that there is compliance with the required accounting legislation, including the annual accounts act, GAAP and IFRS.
Due to Accobats method framwork within financial consolidation, our solutions easily handles cross ownership, changing ownership over time etc. Our solutions also support the ability to use mapping tables, which maps a local budget nomenclature up to a corporate account plan.

The choice of software system depends on the company's size and specific needs as well as wishes in relation to design and interface. 

Corporations who are using Accobat's CPM solutions

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Engineer

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FORCE TECHNOLOGY

AAU

Engineer

SOS international
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Engineer

A streamlined process with workflow

Workflow options eliminate the burden of having to control and remind other stakeholders that they should submit their financial information. Workflow provides a structured authentication process that ensures the validity of data while also ensuring audit trail as all changes are logged.

The use of workflow automates the consolidation process. 
An overview is created so that the following is constantly under consideration:
  • The process progression
  • Who still needs to do what
  • The audit trail
  • Control
All movements and actions are logged. Thus, it is ensured that the consolidation is transparent and validated
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Still considering a CPM-solution?
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Understanding the big picture

With an automated and system-supported solution from Accobat, the consolidation process becomes more professional and controlled.

Eliminate the manual processes from the equation and get a better overview.
Automation and system-support ensures the quality of the consolidated numbers, thus creating the basis for making quick ad hoc analyzes, reports and the decision bases that quickly respond to business questions and support decisions.
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