In response to the standardization of global accounting standards, and with a view to rapidly communicate their company’s consolidated results, managers are looking for efficient solutions to simplify or even automate the production of their consolidated accounts. To achieve this, cloud consolidation software developed by Talentia Software is designed to meet their needs.
Financial consolidation: a complex but necessary operation
Companies with one or more subsidiaries often face challenges when it comes to financial consolidation for their various branches as well as the parent company. In addition, this is a particularly difficult and time-consuming task which requires specific skills and is practically impossible to carry out manually. All the financial information and data from the subsidiaries must be taken into account and verified before being grouped together and merged with that of the parent company. It is vital to gather this information to gain an objective view of the company’s overall financial and accounting situation – including that of its subsidiaries. The data will be used to analyze the company’s performance and take any necessary measures. The use of cloud-based consolidation software is one of the most practical and cost-effective ways of facilitating these operations.
The benefits of cloud-based consolidation software
Today, cloud computing is no longer just a fantasy. It is a reality experienced by more and more companies, for whom the Cloud is an easy way of benefiting from up-to-date application tools that integrate perfectly into their IT systems, without needing to manage the investment and maintenance of increasingly complex equipment and software.
With cloud computing, companies can concentrate on the strategic dimension of their business, while benefiting from enhanced data security, a reduction in operational risk, and pay-as-you-go billing for the services used.
When it comes to financial consolidation, the use of cloud-based software improves communication between subsidiaries and the head office by making it easier to implement collaborative work and task-sharing. Automating the collection and processing of financial data from various sources makes it possible to organize these via a shared repository of consolidated information, providing a comprehensive real-time view of the company’s activities.
This online-only environment is now a complete, modular and secure solution to efficiently communicate the company’s consolidated results, and makes it possible to choose the frequency of operational reports and forecasts based on the business needs of decision-making processes.
Relevant and reliable indicators provide managers with a single overview of their company’s real financial situation to guide their strategic choices and optimize their performance in the face of competition.
Talentia Software Cloud, the financial consolidation software solution
Talentia is a major European developer of business performance management software. Its solutions are designed for all companies, regardless of their size, from SMEs to mid-sized and large companies, and are principally designed to optimize how they monitor their finances.
A true ally to businesses, Talentia offers a turnkey solution including integration, training and technical assistance to enable companies to focus on higher added-value activities.
Talentia Software remains the ideal partner to support you in your transition to Cloud Computing. The professional services managed on Talentia Software’s Cloud adapt immediately to your needs, according to your request and on a pay-per-use basis.
Your data is stored in a secure environment and available 24/7 with complete confidentiality and a contractual guarantee of service quality. By choosing one of our Cloud consolidation software solutions, you can simplify your consolidation process while benefiting from continuous regulatory watch, enabling you to publish consolidated accounts that comply with the standard configurations used by Certified Public Accountants.
Talentia Software guarantees you freedom of use adapted to your own internal organization, while also offering various new features within a collaborative and ergonomic environment, optimizing your financial performance.