CONSOLIDATION MADE SIMPLE
We see often that businesses buy expensive standard tools for consolidation, without the solutions fully matching the specific group’s needs. At exacto, we develop tailored consolidation solutions with direct integration into the company’s own data sources, so that it becomes simpler and quicker to create an overview of the group’s total accounts.
exacto’s consolidation solutions build upon our self-developed technology exacto core®, in which we utilise the synergies between Excel and SQL. Here, Excel becomes a well-known and intuitive user interface on top of a strong database technology.
For our clients, it means that they work in a fully automated set-up, in which all consolidation data are gathered and handled securely in one and the same place; and that regardless of whether the subsidiaries’ respective data are brought in from different financial systems or simply via a flat Excel/CSV file. With automation of the process – and thus elimination of handheld data – our clients avoid manual errors in their data sets.
With exacto’s solution for consolidation, our clients achieve full traceability throughout the whole process. They get an agile solution, in which, for example, acquisitions, divestments and changes in ownership shares can be handled efficiently with only a few clicks via the administration module. Also, the often-difficult conversions from local to joint group exchange rates – across the business’s companies – are controlled from a central place directly in the solution with a fixed set of rules for calculation of profit and balance rates.
Moreover, management reporting is a fully integrated part of the solution with reports on profit, balance and cashflow, so the management can, at any time, quickly access the information that is relevant to them; regardless of whether that applies at the group, subgroup or subsidiary level. The reporting can be done in Word or PowerPoint respectively – similarly fully automated via our integrated report generator.
Do you want to know more?
What surprises several of our clients is that, even though our tools are fully tailored to the specific company, the implementation time is short. Do you want to know more? Then contact partner Tom Kortegaard for a non-binding meeting.