Automated consolidation is the dream of group accountants frustrated by archaic and manual processes. It means you can collate, evaluate and update all subsidiary information as accurately and as quickly as possible. With AccountsIQ’s combined accounting and consolidation platform, it’s just one-click to perform your consolidation(s) as often as you need. Read our customers’ stories below to learn how much time you could save.
When the Group FD has to wait until all the manual, consolidation spreadsheets are reconciled, audited and pre-processed who knows how accurate and useful the aggregate data is and if it’s still relevant. With AccountsIQ, you combine your accounting and business intelligence analysis into your regular consolidation. This means you produce not just the financial records but also management’s Key Performance Indicators (KPIs) to drive understanding.
Access to accurate and up-to-date information about the financial impact of business activity can be the difference between good and bad outcomes. Do you have to wait until you have collated subsidiary data before you can form a group-wide view? By consolidating as often as you wish with AccountsIQ you will have near real-time access to inform rapid and better decision making.
Organisations without automated consolidation incur more cost. Manual capture and evaluation to combine results from multiple subsidiaries takes longer. With AccountsIQ, you can move all group accounting onto one platform. With common reporting and BI analysis structures, centrally managed FX and sophisticated inter-company transactions, you’ll perform faster and more robust consolidations at considerably lower cost and boost finance team morale.
"AccountsIQ’s main success for us has been the efficiency it has brought to the business. The product is a good fit for our pretty complex accounting requirements and AccountsIQ gives us real value for money. We can consolidate 80 entities in a few minutes." Lee Camp, Finance Director, Salamanca Group
Our guide examines the common pitfalls groups encounter with consolidation and explains potential solutions and benefits of investing in automation, and covers: