The reliability and effectiveness of consolidation software for mandatory publication are essential given the importance of the resulting data and information. Talentia Software offers an SaaS-type tool that can easily be tailored to the needs of companies and large corporations.
The importance of financial and accounting consolidation
Large companies with multiple subsidiaries and large corporations with multiple branches at the national, regional or international level need to regularly consolidate their financial statements. This operation is mandatory for companies whose turnover exceeds a legally defined threshold. In addition to this legal requirement, the consolidation of financial positions is also an effective way of obtaining a clear and realistic view of the company’s health. The results of consolidation will also serve as a decision-making tool for the company’s financial managers and decision-makers, in particular when it comes to designing and implementing performance-optimizing strategies for the group, parent company and subsidiaries.
Given the complexity of these tasks, the use of consolidation software, whether for mandatory publication or not, is highly recommended. This type of tool can automate all or part of these operations, thus saving you time and eliminating the risk of errors.
Choose a mandatory consolidation solution with features suited to your needs
The consolidation software a company chooses will depend on its priorities:
- A group of companies that only needs to meet legal requirements will require a tool that offers pre-configured input and return functions, a choice of methods for reconciling or eliminating intra-group transactions, and traceability of information.
- On the other hand, publicly traded groups will need a collaborative solution that, in addition to basic functionalities, offers other tools to accelerate the production of consolidated of consolidated accounts.
In both cases, it is important to take account of the challenges faced by the finance and accounting departments of the companies in the group: volume and complexity of inter-company account reconciliation, number of entities located abroad, number of solution users and desired access method, cost of purchasing (or leasing) and operating the software, and flexibility of the solution (possibility of development).
Talentia Software provides you with a solution that meets your business needs
If you are looking for mandatory consolidation software that can help you not only meet legal obligations but also improve the reliability of the consolidated information, we have the solution you need:
- If you have specific requirements as a publicly traded company or are an accounting firm, we propose Talentia Consolidation Express, a collaborative solution with advanced features to enable the adoption of a multi-user process and facilitate multi-dossier management. With a complete set of parameters (CRC 99-02/IFRS), our software automates the process of preparing consolidated financial statements: data collection, calculating impacts of changes in scope to date, adjustment and elimination. Of course, you can personalize your working methods using the “Business Organizer” tool and perform various operations: entering holdings of simple and cross-traded securities, foreign currency account conversions, rapid simulations, etc.
- In addition, if you want a solution to analyze and manage your consolidated accounts with ease, Talentia Consolidation is what you need. With this ready-to-use, customizable tool, you can not only automate your consolidation process, but also conduct in-depth analysis of your consolidated data and create complex and intuitive reports. It is possible to add other modules to your solution to increase its efficiency (automation of consolidated appendices, multidimensional consolidation and dynamic reporting in Excel, etc.).
Talentia Software is recognized for its business management solutions, designed to meet the needs of all types of business. Discover the Talentia Software range of software designed to simplify financial performance monitoring while ensuring compliance with ever-changing regulations. The partner of choice for businesses, Talentia Software offers a turnkey solution, including integration, training, and technical assistance to free its clients of any constraints in deploying its programs.