Consolidation

Definition: The merger of two or more commercial interests or corporations

Consolidation is a critical aspect of Corporate Reporting and corporate governance. All companies have to manage multiple reporting and consolidation standards such as IAS and U.S.-based GAAP; inter-company elimination and reconciliation; multicurrency translation; complex ownership calculations and financial consolidation rules.

These are time consuming operations, and during times of corporate change, can be an enormous burden on a Finance Operation.

Additionally, any mistakes in these areas can have
serious consequences to the organization.

Issues with Consolidations:

• Timing – many complex corporations take weeks to do a full consolidation

• Reliability of reporting – with a process as complex and time consuming as consolidation, mistakes can be made rushing for a deadline, and reporting can be incorrect.

• Rigidity - Many companies face the inability to change the way they consolidate due to the manual nature of the consolidation and the lack of resources to accomplish it. This results in reporting that is neither accurate nor pertinent to the business.

Implementation consultants have been delivering world class consolidation applications since 1998. We have tremendous knowledge in not only creating consolidation applications, but Integrating them into the rest of the business intelligence framework to make them true business analysis tools.