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Close and Consolidation

Accelerate your finance transformation adventure by automating crucial close and consolidation tasks while adhering to international accounting standards. Gain instant access to reliable reports for an accurate, up-to-date view of your business.

OVERVIEW

the inefficiency of traditional consolidation

The manual process involved in finance consolidation is often time-consuming and error-prone, making it difficult to provide accurate and timely financial information. The complexity of managing multiple data sources and financial statements can further hinder efficiency.

Modern Planning Solution To Accommodate Business Growth

As your business grows, you may notice that your current planning system has reached its limit, unable to accommodate your business growth and needs. Workday Adaptive Planning rethinks planning so you can always keep up with the increasing needs and demands.

sales and operations planning overview

BENEFITS

Automate Critical Close And Consolidation Processes

FEATURES

Attain Greater Transparency In
Your Consolidation Processes

Consolidation Hub

Get a complete, global overview of all consolidation tasks and reports across all entities, making it easy to navigate to important tasks. Gain insights into open/close and in-progress ledgers across your entire organisation. Keep track of consolidation tasks and progress at a glance to effectively manage the process. View where each entity stands in the group close process in a single glance.

Data and Entity Management

Streamline your data collection process with the automated system that gathers data from external GL sources. Leverage a user-friendly self-service experience with built-in error handling. Workday Adaptive Planning's advanced mapping capabilities will save you time by reducing manual efforts and compiling and aggregating supplemental data for easy reporting.

Consolidate

The system supports multi-book, multi-hierarchy, and multi-company consolidation. You can easily set rules without needing to code and see real-time eliminations and consolidations and currency translation with simple currency translation rules configuration. Generate reports on non-controlling interest and equity pick-up ownership scenarios and reconcile and certify account balances before closing for greater accuracy.

Financial Reporting

Automate the creation of consolidated financial statements in different currencies, such as U.S. GAAP, IFRS, Local GAAP, and Tax, to meet global reporting needs. With a single security model, you can ensure data security for all users—utilise OfficeConnect for dynamic analysis and reporting, including detailed comparisons between actuals and planned figures.

FEATURES

Attain Greater Transparency In
Your Consolidation Processes

Consolidation Hub

Get a complete, global overview of all consolidation tasks and reports across all entities, making it easy to navigate to important tasks. Gain insights into open/close and in-progress ledgers across your entire organisation. Keep track of consolidation tasks and progress at a glance to effectively manage the process. View where each entity stands in the group close process in a single glance.

Data and Entity Management

Streamline your data collection process with the automated system that gathers data from external GL sources. Leverage a user-friendly self-service experience with built-in error handling. Workday Adaptive Planning's advanced mapping capabilities will save you time by reducing manual efforts and compiling and aggregating supplemental data for easy reporting.

Consolidate

The system supports multi-book, multi-hierarchy, and multi-company consolidation. You can easily set rules without needing to code and see real-time eliminations and consolidations and currency translation with simple currency translation rules configuration. Generate reports on non-controlling interest and equity pick-up ownership scenarios and reconcile and certify account balances before closing for greater accuracy.

Financial Reporting

Automate the creation of consolidated financial statements in different currencies, such as U.S. GAAP, IFRS, Local GAAP, and Tax, to meet global reporting needs. With a single security model, you can ensure data security for all users—utilise OfficeConnect for dynamic analysis and reporting, including detailed comparisons between actuals and planned figures.

Ready to Embark on Workday Adaptive Planning Journey?

Contact us for a personalised consultation and get 30-days free trial. Start elevating your FP&A with more efficiency today.

Meet the Companies that Trust Us.

Over a decade of decoding complex finance challenges faced by industry-leading companies.

Take The First Step Towards Success

Ready to plan, execute, and analyse with confidence? Contact us for a free consultation and learn how to harness the power of Workday Adaptive Planning to its fullest potential.

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