The defining question is whether the engine of your reporting machine is manual or automated?
The main goal of group finance professionals is to deliver accurate reporting and present actionable management insights based on KPIs. To do so, your tools for managing the consolidation and reporting must help you facilitate fast and precise results.
Suppose you do manual data processing and calculations. In that case, it is problematic, not only because the risk of (unintended) errors is high, but the nature of the task is also time-consuming, the scalability is limited, and there is a lack of transparency. Overall, the method will slow you down and expose you (and your group) to unnecessary risks.
When the list of repetitive, data-heavy, and redundant tasks is as extensive as in group finance, you should automate as many tasks as possible to deliver more accurate and on-time financial reporting and avoid the risk of errors.
All tasks handled manually considerably increase the risk of error and slow down management reporting.
On the contrary, the result of using software to automate data processing and calculations is faster (up to 75%) and more accurate financial reporting.
Getting financial consolidation right in 7 minutes
Konsolidator makes group consolidation easy, accurate, and fast, even when you would think otherwise. It’s a standardized consolidation software for small- or medium-growth companies.
It is 100% cloud-based and accessed online, so you save the cost and trouble of local implementations and can access it whenever, wherever.
It integrates with your existing accounting software to create a complete data flow, leaving you to do full consolidation as fast as within 7 minutes.
The software contains all elements for financial consolidation and ensures compliance with local GAAP and IFRS requirements and gives you a complete audit trail.
So, if you are not using the right tool for your month-end close or any tool at all, get in touch with us. We are experts in financial consolidation and reporting. Our team consists of state-authorized accountants, auditors, and former CFOs, who all have many years of experience in the finance landscape and who want to help you work smarter.
Strengthen your performance as a Finance Professional
Visit konsolidator.com for a free demo trial, a product tour a discovery call.
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