Enterprises frequently use spreadsheet programs (most often MS Excel) as a financial consolidation tool, both for management or statutory consolidation. This often fails to meet their expectation in terms of conciseness, clarity and detailed output. Frequently occurring problems are timing demands, flexibility and the high costs of processing.

Adastra’s comprehensive solution for financial consolidation offers:

• Analysis and proposal to optimize financial consolidation process
• Recommendations of the most suitable tools for financial consolidation
• Configuration and implementation of this tool
• Connectivity to existing systems
• Training and technical support

Tools for Financial Consolidation

In Financial Consolidation projects Adastra builds on the in-depth knowledge of specialized tools, for example SAP BPC (Business Planning & Consolidation – formerly OutlookSoft Planning & Consolidation), BO Finance (formerly Cartesis Finance), or Cognos Controller. The main advantages of these systems are:

• To make the consolidation process more efficient, rapid and cheaper
  • Automation
  • Flexibility
  • Transparency and clarity
  • Pre-set consolidation rules (IFRS, US GAAP)
  • Segmentation where consolidation can be viewed from different angles
  • A user-friendly environment
• To use them for statutory and management reporting
  • Pre-set reports according to different accounting standards
  • Ad-hoc reports tailored to meet user needs
  • A variety of possible writing scenarios
• One version of the truth
• Consistency and completeness of data
• Consistent administration, history writing and documentation