Even at the best of times, consolidation and financial close processes are complex, time-consuming and laden with risk. The connection of different ERP systems, coupled with factors like distance, language, and variances in accounting rules all threaten the speed and quality of financial statements.
Successful organizations also have to grapple with a growing number of entities, currencies, and intercompany transactions within a group. That makes it even harder to achieve fast close, or maintain optimal control over the audit process.
prevero consolidation makes reconciling intercompany transactions easier by handing back control to the entities themselves throughout the fiscal year. The solution automatically matches transactions and allows the involved partners to focus exclusively on any discrepancies detected.
Finance teams gain a fast and secure way to consolidate figures from various group subsidiaries. Different data types can be used for balance sheets and P&L, shareholdings, intercompany accounts in local or transaction currencies, group analysis, and analytics.
prevero helps you modernise your consolidation process, getting rid of manual, error-prone data entry and shortening the close cycle. When working with complex group structures or more intensive requirements for analysis and reporting, prevero‘s multidimensional subsidiary management add-on provides multidimensional data collection, group data planning, and convenient dashboards.