Financial Consolidation
Simplify, streamline, and automate your financial data management.
Key clients
Seamless, automated, accurate, compliant data — from any number of sources.
Are you struggling with preparing consolidated reports manually? Pulling data from various sources is difficult and prone to errors; handling multiple currencies and multinational operations adds another level of challenges.
Financial consolidation automates the tedious process of gathering and managing financial data from various systems. The outcome is a centralized platform designed with CFOs (in mind) — self-explanatory and requiring minimal training.
We can integrate seamlessly with your existing financial systems and enable you to execute last-minute requests in a few minutes, while adding new items, companies, countries, and accounts doesn’t require any change in the formula.
Ready to dive deeper?
Get your free copy of the guidebook: “The Confident Close: A Practical Guide to Faster, Smarter Financial Consolidation”!
Key Steps in Financial Consolidation – RECORD 2 REPORT PROCESS
Processing (capture data, ongoing transactions)
During this phase, it is crucial to ensure accurate and timely data capture from all sources, including subsidiaries and business units, which often involves manual adjustments due to non-integrated systems and differing accounting structures.
Closing
The book-closing phase requires clearly defined processes, responsibilities, and deadlines to avoid delays, reduce manual efforts, and enable timely preparation for consolidation.
Consolidation
Consolidation involves transforming data from multiple sources into unified financial statements, facing challenges such as different currencies, account structures, and inconsistent hierarchies — all addressed through standardization and flexible technology solutions.
Reporting
Reporting is considered the most critical part of the process, requiring accuracy, transparency, and compliance with regulatory standards such as XBRL. Effective organizations design the entire financial close system based on reporting requirements.
Where does Solvership’s financial consolidation come in?
- Centralized financial management
Improve data accuracy and ensure compliance with accounting standards by managing your financial data in one place. - Automated consolidation process
Simplify and accelerate the preparation of consolidated financial statements with automated processes. - Data accuracy and compliance
Ensures data integrity and helps in adhering to regulatory standards. - Easy integration
Seamlessly integrates with existing financial systems, ensuring smooth workflow adaptation. - Fast & low-risk implementation
Quick setup without the need for expensive programming, reducing implementation risks. - Finance team ownership
Fully managed by your finance team, putting you in control.
Transform your consolidation process today!
Get your copy of the e-book “Mastering Financial Consolidation: Best Practices, Challenges & The Power of IBM Cognos Controller” to discover how to streamline your consolidation process, avoid common pitfalls, and explore modern tools like IBM Controller that makes it all easier.
Focus on growth and planning
Spend more time analyzing data and less time collecting it with Solvership’s Financial consolidation:
- Automate the consolidation process, significantly reducing the time spent on data gathering and reporting.
- Get real-time data insights for informed decision-making.
- Improve data accuracy and ensure compliance with financial regulations.
- Adapt easily to business growth, accommodating new subsidiaries and increased data volume.
- Get a holistic view of financial performance, aiding strategic planning and growth.
Our team is here to help you maximize value, improve your processes, and support you in your Financial consolidation journey.
Related events and resources
Financial Consolidation
Key Steps in Financial Consolidation – RECORD 2 REPORT PROCESS
Processing (capture data, ongoing transactions)
Closing
Consolidation
Reporting
Where does Solvership’s financial consolidation come in?
01
Centralized financial management
02
Automated consolidation process
03
Data accuracy and compliance
04
Easy integration
05
Fast & low-risk implementation
06
Finance team ownership
Transform your consolidation process today!
Get your copy of the e-book “Mastering Financial Consolidation: Best Practices, Challenges & The Power of IBM Cognos Controller” to discover how to streamline your consolidation process, avoid common pitfalls, and explore modern tools like IBM Controller that makes it all easier.
Focus on growth and planning
STEP 01 →
Automate the consolidation process, significantly reducing the time spent on data gathering and reporting.
STEP 02 →
Get real-time data insights for informed decision-making.
STEP 03 →
Adapt easily to business growth, accommodating new subsidiaries and increased data volume.
STEP 04 →
Adapt easily to business growth, accommodating new subsidiaries and increased data volume.
STEP 05
Get a holistic view of financial performance, aiding strategic planning and growth.
Related events and resources
