Financial Performance Management (FPM)

The vision for Financial Performance Management focuses on the relationship between the three critical processes of the 'Office of Finance'.

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To find out more about LSA's approach and the products that we provide and support, click on any one of the stages of the Finance Cycle below:

Plan, Forecast & Control

Analyse & Optimise

Close, Consolidate & Report

LSA, using FPM software from carefully selected vendors, provide finance professionals with an integrated solution for each of these steps. This coupled with our in-depth knowledge and experience of successful implementations and training since 1995, provides you with the necessary tools and expertise to address these requirements successfully.

Financial Consolidation

Financial Consolidation is a process. Often constrained by the limitations of the technologies used to deliver and manage it, LSA Solutions have observed that the very best Financial Consolidation processes are those that are wholly owned and managed by the most relevant Financial Department.

Transparency, flexibility, and real-time calculations are highly desirable....

All stakeholders involved with the Financial Consolidation process will understand the complexities that it can present. Often we are dealing with data which is widely disseminated and owned by separated individuals, across multiple systems, accounting rules, currencies, and inter-company subsidiaries.
 
To deliver the process, many companies still use spreadsheets. But many now realise that this process can be extremely prone to errors and excessively time consuming to manage. Others will long-ago have adopted software systems from the many main vendors. Whilst this approach provides the control and 'one version of the truth' so badly needed, the solutions come with high price tags and may have convoluted and time-consuming (read costly) batch processing routines in order to enable calculations at various partial stages.
 
Consolidation Process
 
This leaves the SME market in particular in something of a dilemma. Do they make the considerable investment in both time and money to purchase a Financial Consolidation system (and potentially still end up needing to run additional costly processes in order to operate it), or revert to spreadsheets? The latter option, often seen as the cheaper route soon escalates in cost far beyond what is originally envisaged because of the difficulties of managing and obtaining accuracy from the process.
  
LSA Solutions promote the use of modern software architectures for Financial Consolidation.  In-memory solutions do away with the need for batch calculations of data uploads and provide on-line analytical processing from data cubes or relational tables at all partial stages of the process in real-time. Complex inter-company relationships can quickly and easily be recorded and reconciled at every stage and annotated with narrative and context.
 
Simplifying and streamlining the Financial Consolidation process in this way has delivered significant cost savings and enabled widely dispersed finance teams to collaborate on complex inter-company relationships with complete flexibility and transparency.
FPM_Cornerstones
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