Financial consolidation in SAP BPC
Financial consolidation without appropriate software and methodical support can be enormously stressful and resource-demanding task, both for the holding company and its subsidiaries. With our solution implemented in SAP Business Planning and Consolidation, you can significantly speed-up your closing cycles while meeting all financial reporting and legal requirements, including a complete audit trail.
- Preparation of individual and consolidated statements and disclosure reports according to IFRS, US GAAP or legal standards on quarterly or monthly basis.
- Individual data and notes collection through imports, manual inputs and double-entry adjustments / journal entries. Automatic transformation of local accounting data with calculation of balance sheet flows, cash flow and other.
- Currency translation with FX difference calculations.
- Intercompany reconciliation – optionally in transaction or account detail with automatic pairing mechanisms.
- Elimination of all intercompany transactions.
- Calculation of non-controlling interests.
- Automated financial consistency checks (statements vs. notes, balances vs. flows, local accounting values vs. reported values and other).
- Intuitive user interface requiring no extensive training or support of the subsidiaries. Advanced reporting and analytical features allowing quick and easy data analysis and problem solving.
- Robust, high-performance back-end enabling simultaneous access of tens or even hundreds of companies.
- Workflow management support, including step-by-step guidance of the users, email notifications, process execution monitoring and multi-level approval and data locking mechanism.
- Faster and more accurate closings meeting IFRS and legal requirements.
- Lower costs per consolidation cycle for the holding companies as well as for the subsidiaries.
- Security – full control over individual access to data.
- Transparency – complete audit trail of data and system changes, monitoring of the consolidation progress, transparent structure of data with tracking of data sources and automated financial checks.
- Business-user orientation of the application allowing users to make common methodical changes and solution enhancements without IT or external support, thus increasing user engagement and lowering operational expenses.
- Methodical support and guidance from our consultants with sound financial background and experience from numerous large-scale implementations.