How to automate your financial consolidation operations?

Financial consolidation entails a multitude of tasks for your employees to manage: integrating balances, identifying inconsistencies and errors, calculating complex scopes, consolidation processes, producing regulated financial statements – all operations that are lengthy and time-consuming. To reduce the time spent on these non-added value tasks, use financial consolidation software such as that developed by Talentia Software.

Why opt for cloud-based financial consolidation software?

Cloud-based software solutions offer clear advantages to companies with multiple subsidiaries who have offshored certain business processes. Cloud-based work tools can be accessible to all authorized individuals, and usually from any terminal capable of connecting to the internet. They therefore offer a collaborative aspect that is particularly appealing to large corporations. For example, a cloud-based financial consolidation solution will be much more efficient for sharing and sending financial data, information and reports between the parent company and its subsidiaries.

This dematerialization of business applications also prevents companies from having to invest in costly equipment or hire specialists to take care of servicing and maintenance. In addition, cloud software is scalable and flexible, meaning it can easily be adapted to the company’s needs as its business grows.

The advantages of using financial consolidation software

Developed by business and systems experts, financial consolidation software is equipped with features to manage data collection, consolidation adjustments and eliminations, deferred tax management and merger automation (variations in scope). This technological tool significantly reduces the tasks of the consolidator, while ensuring perfect consistency in the financial data of each company in the group.

In principle, it is possible to customize the return and reporting mode to ensure complete traceability of the consolidated data and thereby simplify the work of auditors.

International groups, meanwhile, can opt for more sophisticated software featuring a module that can automatically generate a legal consolidation chart based on the securities portfolio submitted. This type of tool can even help manage treasury shares and cross-holdings.

Simplify your consolidation process

Talentia is the leading European provider of operational performance management software for companies of all sizes, from SMEs to mid-sized and large companies. The partner of choice for professionals, Talentia offers high-quality assistance, including integration, training, and technical assistance to free its customers from any constraints in deploying its solutions. Talentia has developed an extensive line of solutions to streamline financial performance management.

If you are looking for powerful software that can simplify the consolidation process within your corporate group, Talentia Consolidation & Reporting is sure to satisfy your needs.

Recognized as one of the best financial performance management tools on the market, our financial consolidation software has already proven its worth at many large national and international companies. Customizable and ready to use, it offers several features organized by theme, thus facilitating access to information. Among other things, this solution can:

  • simulate scope inputs and outputs and adjust consolidation method parameters
  • automate data recovery from various sources
  • automate the consolidation process
  • easily generate merged reports in a consolidation file.

You can supplement your software with other modules, especially if your group has subsidiaries abroad:

  • a solution that can set up a fast data validation circuit for data gathered
  • a tool that can decentralize tasks related to data import
  • a solution that automatically generates your legal organization chart
  • a tool that allows the real-time management of intra-group entries, reconciliation and validation operations

Accessible in online-only mode, these software suites do not require license purchases or investment in new computer equipment.