Simplify Your Financial Close Processes
All stakeholders involved with the Financial Consolidation process will understand the complexities that it can present. The typical month end close process means that often we are dealing with data which is widely disseminated and owned by separated individuals, across multiple systems, accounting rules, and currencies, all while simultaneously accounting for intercompany transactions.
To deliver this process, many companies inevitably turn to spreadsheets. For financial modelling, spreadsheets can be ideal, but for financial consolidation and reporting , the spreadsheet-based process can be extremely prone to errors and excessively time consuming to manage. The alternative of course, is to adopt financial close and consolidation software application systems from one of the many main vendors.
However, while the application software approach provides the control and 'one version of the truth' so badly needed, these systems often come with high price tags and many have convoluted and time-consuming (costly) batch processing routines in order to enable calculations at various partial stages.
Selecting the correct financial consolidation and reporting software for your particular company environment therefore becomes a critical business decision which significantly benefits from the informed experiences which LSA can deliver. Our financial consolidation software comparison and selection service ensures that your software choice delivers the financial statement consolidation process that works for you and automates and simplifies your month end close processes. Our software comparison and selection service ensures that you can: