No Place for Spreadsheets Here
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.
