A simplified financial close

The financial consolidation process is often time-consuming, complex and chaotic because of last-minute adjustments. In spite of these challenges, finance professionals are under constant pressure to meet strict deadlines, report on more data in less time and meet ever-evolving regulatory compliance standards.

Finance teams require a robust financial consolidation and reporting solution to help them meet increasing demands and provide centralized control and management over the financial-close process. With robust automation, built-in internal controls, and GAAP and IFRS support, providing certified financial information is made simple.

Intuitive and easy to use

The intuitive user interface of the IBM solution means that we no longer have to search through different reports for answers. All the information we require is held in a single, easy-to-use system.

—Koh Mui Leng, Assistant Vice President, Finance, Singapore Press Holdings


15

minutes

85%

less time


Singapore Press has reduced the time needed to complete one cycle of data loading from 2 hours to 15 minutes — an improvement of more than 85 percent.

Create one comprehensive view of your organization

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Financial closing

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Financial consolidation

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Financial reporting

Fast track your financial close and report with confidence

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Accelerate your close

Trim days off your monthly close process by automating data collection, data entry and time-consuming consolidation and accounting procedures.

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Increase transparency

Know exactly where your entities are throughout the close process. See who has submitted and processed their consolidations or completed inter-company eliminations. 

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Meet auditor demands

Improve the integrity of your financial data with detailed audit trails, tracking data flow throughout the consolidation process and maintaining accountability.

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Minimize IT dependency

Embrace a self-service finance-owned and managed solution, giving you real-time data updates and the flexibility to easily define and maintain rules and processes.

Featured solution: IBM Cognos Controller

IBM Cognos® Controller supports the complete close, consolidate and report process. Its full suite of capabilities delivers a comprehensive portfolio of financial results and provides an integrated platform for financial reporting. This enables finance teams to automate and accelerate the financial close with minimal IT support.

Case studies

Laura Ashley reduced consolidation time by 85 percent

Laura Ashley, Inc., accelerated its financial consolidation processes and streamlined the delivery of both management insight and statutory reports.

MINIT saved a full day on month-end closing

The MINIT Group depends on the rich and robust foundation of IBM Cognos Controller to provide accurate figures to decision-makers.

Emirates National Oil fueled deeper insights with analytics

Emirates National Oil Company replaced its spreadsheet-based processes and transformed its month-end reporting processes.

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