When dealing with statutory reporting and financial consolidation, most organizations are restricted by outdated ways of working. Statutory consolidation – whose purpose is limited to providing historical reports to state bodies and investors – should not be seen as a standalone thing. Reporting actual values is the centerpiece of performance management and the path to business success. Financial professionals need to achieve both legal and management consolidation in the same integrated environment – designed to provide useful information about financial and operational results.
The CPM solution enables companies to achieve both legal and management consolidation in the same integrated BI & CPM environment. The solution addresses the different challenges that the multi-entity organizations face: intercompany reconciliations, consolidation adjustments, and group reporting.
The system combines data from different locations and from different sources, making multi-currency conversions and eliminating time-consuming processes.
A workflow dashboard allows you to easily track and manage the consolidation process throughout the company, highlight the status of operations and certify the various internal controls.
The CPM system enables the multi-level, legal and management consolidation of complex group structures, with:
Automation of currency conversions and calculated reversed conversions
Elimination of the intercompany credits / debits and expenses / income
Elimination of investments in subsidiaries and net equity of subsidiaries, and the calculation of the consolidation reserves
Elimination of dividends and profit / loss of subsidiaries, and the calculation of the group’s profit / loss
Calculation of changes in the consolidation goal
Calculating and reporting cash-flow
I/C reconciliation at transaction, document, or currency level
Creating and comparing an unlimited number of scenarios (real, budgeted, predicted)
Multiple and customizable closing periods (year, quarter, month)
Managing multiple account plans: local, group-level, for reporting
Accounting records at company and group level
Complete auditing of data and processes
Statutory, management and segment reporting