No more bottlenecks
This slick machine runs your consolidation like a dream
Consolidation has a lot of mechanics with data extraction, manipulation and calculations. When serviced well with an intelligent accounting approach your consolidation bottlenecks will disappear.
Fast consolidation relies on removing bottlenecks. Typically that entails getting data in from management and legal accounts, and a real understanding in dealing with Inter-company, which is where we put our efforts in.
Inmarsat - 70 companies, all on SAP.
The Challenge - Getting the right data out, fast.
Our work with Inmarsat involved extracting both their legal and management accounts and uploading it to the Workday Adaptive Planning - they can do this in under an hour now.
Previously this was a download to Excel and a lot of manual data manipulation. Now they can reload several times during a consolidation, allowing corrections in the source data. We build in checks and balances to ensure all the data ties together, giving the accountants peace of mind, knowing the data is correct, even when working at speed.
Well oiled machine
Intercompany balances slow a consolidation down more than anything else; with the central team taking the brunt of the work.
At SDL we showed them how combining several tools could get it off the critical path, and spread the workload.
Using Integration we get data in fast. Our kit includes Instant FX translation and an Intercompany matrix report which together exposes where accounts are out of balance.
Local accountants can then resolve issues, and communicate across the globe using Process Tracker, whilst the central team keep watch.
The master-stroke is that it’s all done before month end, removing Intercompany as a bottleneck.
Find out more about Workday Adaptive Planning.