This financial consolidation and reporting application provides enterprises the ability to meet complex consolidation requirements, streamline regulatory compliance, unify legal and management reporting, and speed up the entire financial close-to-disclose process.
SAP Financial Consolidation is a Web-based application, specifically designed to help to automate, unify, and secure statutory consolidation and management reporting at the enterprise level. With a comprehensive set of enterprise-class, consolidation-focused functionality, SAP Financial Consolidation enables companies to meet global and local regulatory regulations and streamline compliance across complex structures of corporate groups. It interfaces with heterogeneous source systems and automates inter-company reconciliation and elimination, currency translation, minority interest and equity, as well as segment reporting. SAP BusinessObjects Financial Consolidation includes ‘financial close to disclose’ functionality and provides companies with the power to close books quickly and accurately.
Deliver fast, accurate financial consolidations – and free up your finance team to focus on strategy and analysis. SAP’s financial consolidation solution can help you navigate multiple currencies, mergers and acquisitions, and evolving accounting standards and regulations:
SAP BusinessObjects Financial Consolidation supports automated consolidation processes that meet all legal and reporting requirements, including those for GAAP and International Financial Reporting Standards. The software also supports currency translation adjustments, minority interest and equity calculations, and intercompany reconciliation. Automating processes and improving compliance with regulatory and financial standards – including a full audit trail and the generation of publication-ready reports with SAP BusinessObjects Disclosure Management – not only help reduce external audit costs but also enable the books to be closed more quickly and streamline “the last mile of finance.”
Running on the SAP HANA Platform dramatically simplifies the IT architecture required for reporting purposes. I also allows you to run your enterprise consolidation reporting in real time, even against massive amounts of records.