Faster group reporting with multi-entity consolidation

Need: A parent organisation has the requirement to run consolidation of the financial data across all of its subsidiaries.

Description: An organisation wants to consolidate data across its multiple subsidiaries, into a single management view. As they are continuously adding more entities to the company, they have currently outgrown their traditional server-based software and have no way of accessing the volume of data they are needing to consolidate. With this, the organisation is relying on excel to prepare and provide finance reports, as well as using an external company to produce the combined consolidated accounts.

Strategy: Cloud Accounting

Solution: Cloud Accounting is the ultimate solution for this organisation due to multi-entity consolidation features. With this, the organisation can automate their consolidation process in the click of a button. With advanced reporting features, Cloud Accounting will also enable the organisation to produce powerful reports straight from the platform, meaning the organisation no longer needs to rely on multiple spreadsheets to pull accurate reports.

Benefits:

• Consolidation performed at a touch of a button.
• Ability to produce consolidated accounts in multiple currencies.
• Multi-dimensional reporting
• Remove server costs for hardware and licences
• Powerful cloud solution.