Consolidation of accounts for statutory and internal MIS is a challenge for any company. Accountants and CFOs face immense pressure due to consolidation on the basis of - companies, business areas, profit centers, divisions, branches, or the SBUs of internal
cost accounting.Using spreadsheets for consolidation is a tedious process as there are several links and one change can cause cascading errors. ERP comes with a reporting toolset but it relies on the IT team to deliver the on-demand report.1KEY FCM - Features-
Schedule VI formatted reports with notes- Addresses IFRS requirements - Output in XBRL formats- Cost effective as compared to manual transfers- Multicurrency capabilities- Automated calculations and adjustments- Addresses accounting and regulatory issues-
Quarterly reports at low cost (statutory requirements)- Collect data across the globe from operating units with disparate general ledger systems, charts of accounts, and ERP systems- Consolidated data in line with local and international requirements (such
as GAAP, Sarbanes-Oxley, and IFRS)- Store data in a single database so that everyone works with the same set of numbers, accessing data from software rather than a spreadsheet- Data can be compared with budgets, plans, and forecasts for better business insight-
Detailed journal and audit capabilities for transparency to satisfy internal and external auditors
1KEY FCM - Financial Consolidation Management has not been reviewed by any customers.
Submit A Review
The views and opinions submitted and expressed here are not those of Microsoft.