White paper: Next-generation financial consolidations

Corporate accounting has long been viewed as custodian and curator of financial data. However, whether it’s bringing the data together or distributing the financial results broadly, the financial consolidation process has long been an onerous drudgery of information assembly, validation and reporting.

The consolidation process for many corporate accounting groups is sometimes measured in months, often measured in weeks, but rarely measured in days.

Consolidated financial statements group together all the related entities (locations, divisions, subsidiaries, legal structures, etc) that are under a single parent company’s control. This gives the reader a unified “operational” view of the consolidated entities.

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