Financial Consolidation Solution

Streamline your consolidation process.

Creating a consolidated view of data for group companies can be a humongous task. It is often associated with long, difficult hours spent on excel sheets by various groups of the business. And results are inaccurate – *88% of financial statements consolidated in excel sheets are wrong. Business groups could be distributed across the world or could be multiple cost-centres within the same country. 

How a consolidation software helps group finance teams?.

Software consolidation software is designed to simplify the process of financial group consolidation. It makes reporting of group numbers easier, it maps all general ledgers into one set of accounts and applies one set of governance policies to all financial data. There are various financial software available that automate single entry, double entry systems, intercompany reconciliations and currency conversions. However, each organisation has slightly different business processes. 

A financial consolidation software built by finance teams for finance teams is best suited for a smooth and stress-free close to disclose process.

 

 

At AIS Consulting, we help financial functions manage complex global consolidation requirements using Gartner recognised, award-winning financial consolidation software – CCH Tagetik.

Why we feel CCH Tagetik is the Best Consolidation Software:

  •  Reduce human error:  Moves your finance team from consolidating data on excel sheets 
  • Reduces stressful workload for finance teams: It comes pre-built with formulas and intelligence to automatically calculate specific tasks such as interest calculation and currency conversion.
  • Enforces compliance with governance policies:  Inbuilt policy controls and validation processes ensure that there is very less margin of error for group companies. This also reduces fewer exceptions in the final consolidation as most data is matched automatically. 
  • Improved Reporting: it moves your team away from doing the manual task of collecting the data and provides custom reports for the group CFO to visualise overall accounts, at the same time empowering them to drill down to the entry-level for a specific group company

 

Consolidation with CCH Tagetik takes days off your financial consolidation process.

Find out how EUROPAssistance speeded up their consolidation process using CCH Tagetik. They discovered real consolidation with CCH tagetik and no longer have to run two consolidations each year and can manage change like the addition of new entities with the flexibility CCH Tagetik provides.

 

EuropAssistance speed up their consolidation

Is your legacy financial consolidation system fit for purpose?

Look out for these signs that indicate that your consolidation systems might be ready to retire.

Read the blog

 

Which is the best consolidation system for UK Group Companies?

In this blog, we consider the various elements important in a good financial consolidation software.

Read the blog

Finance Improvement Projects: 10 things that make a BIG difference!

Read this ten point guide suitable for anyone who is embarking on a finance process improvement project.

Read the blog

 

 

The Health Check

If your current CCH Tagetik processes are clunky a system health check can help to improve things. Our technical team can give your installation a tune-up – often small changes can make a big difference.

Art of the Possible Workshop

Understand what is possible with CCH Tagetik. We’ll help you understand all the tools you have available and which ones will add value. Become a CCH Tagetik Expert.

CCH Tagetik Upgrades

get the latest developments – simple add-ons can extend CCH Tagetik to improve many areas in finance.
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