Financial Close/Consolidation

Offline spreadsheets, emails and phone calls are still the main tools for financial close process at many companies. These organizations suffer through cumbersome, time-consuming and often error-prone financial closings every month, quarter and year. Exacerbating the situation even further, the financial close can mean different things to different people. To a controller it may mean closing out the sub-ledgers and general ledger at each closing period and submitting the results to corporate.

To a headquarters accountant the financial close is about collecting the details from the divisions, making final adjustments and performing the corporate financial consolidation and reporting. To the CFO and other finance executives, it’s about finalizing the results, announcing earnings and creating 10Q/10K’s and other regulatory filings for the SEC and other stakeholders. The extended financial close and reporting process is all of these tasks and processes – which involves many systems, departments and individuals. This process is very complex to manage and too important to control using “hope and email.”

PREDICTif’s dedicated EPM practice brings you the industry experience and technological know-how to deliver effective and innovative fully integrated financial close solutions, completing financial close and reporting results quickly to both internal and external stakeholders – while ensuring compliance, auditability and accuracy.

Powered by Oracle Hyperion Financial Close Management Suite and IBM Cognos Controller, our financial close management solution will help manage all financial close cycle tasks including ledger and sub-ledger close, data loading and mapping, financial consolidation, account reconciliation, supplemental schedule management, tax/treasury and internal and external reporting processes – any task associated with the extended financial close, with the following key business benefits:

  • Report to stakeholders in a timely and accurate manner
  • Provide a high level of governance, visibility, and transparency into the financial close and reporting cycle
  • Be confident in the numbers you report
  • Enforce IT Governance, Risk and Compliance leveraging IT technology and process controls
  • Streamline departmental and corporate policies, as well as manage compliance and governance structure

With functional Accounting and Finance backgrounds as well as having worked in a variety of industries, our consulting professionals possess the technical and functional skills needed to work efficiently with you and truly understand your day-to-day challenges.

Whether it’s Excel spreadsheets slowing you down or the data is everywhere and can’t be trusted, it is possible to close your book faster in a breeze. We specialize in helping you out.