Simplify Your Month End Close
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 still use spreadsheets. But most now realise that this process can be extremely prone to errors and excessively time consuming to manage. Others will long-ago have adopted application software systems from the many main vendors.
Whilst the application software approach provides the control and 'one version of the truth' so badly needed, these solutions often come with high price tags and many have convoluted and time-consuming (read costly) batch processing routines in order to enable calculations at various partial stages.
Selecting the correct financial consolidation solution for your particular company environment therefore becomes a critical business decision which significantly benefits from the informed experiences which LSA can deliver. Ensuring that your software choice delivers the financial statement consolidation process that works for you can make the difference between a failed implementation and a successful one.
