Financial Consolidation, Statutory Reporting & Management Consolidation

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Financial Consolidation – Driving Process Automation and Financial Reporting Agility

Are you spending countless hours of work every year preparing consolidated financial statements for your organization? Finance professionals typically go through many manual steps and a complex, tedious process to consolidate separate financial statements from subsidiaries, properly account for mergers and acquisitions, calculate foreign currency translations and eliminate intercompany transactions.

A Unified View of Performance with Integrated Financial Consolidation

The tight integration of financial consolidation with financial planning and analysis has several advantages. Integrated financial consolidation not only produces audit-proof financial statements that meet international reporting standards such as GAAP and IFRS but also provides a unified view of the group’s financial performance to key stakeholders. Internal management reports and KPIs provide the CFO and other business functions with crucial financial insight for enterprise performance management.

Benefits of Integrated Financial Consolidation:

  • Meet regulatory reporting requirements

  • Align internal and statutory reporting
  • Increase insight into group financial performance
  • Reduce effort through common data models and processes

  • Improve collaboration with harmonized workflows

What is Financial Consolidation?

In financial accounting, consolidated financial statements provide a comprehensive view of an organization’s financial position by combining financial data from all its subsidiaries and business entities and rolling it up to the parent company for reporting purposes. Public companies must follow the generally accepted accounting principles (GAAP) for external disclosure of consolidated financial reports and comply with the International Financial Reporting Standards (IFRS) for international disclosures.

Webinar Integrated Financial Consolidation

In this webinar KPMG and Jedox discuss how finance can drive digital transformation with an integrated platform for planning, performance management and financial consolidation. FP&A automation is not limited to strictly planning, budgeting, and forecasting. Increasing efficiency and transparency across your organization is much more within reach than you might think. Learn how an efficient financial consolidation process is the cornerstone of successful enterprise performance management.

Jedox Financial Consolidation Software

Fast, agile and connected. Meet internal and external reporting requirements with high speed, agility and consistency. With Jedox Financial Consolidation software you can automate complex consolidation measures and accelerate reporting to free-up time and resources. Jedox is an integrated Enterprise Performance Management solution combining financial consolidation and financial reporting with planning, budgeting and forecasting in one digital platform for more agile decision-making.

Deploy quickly and stay flexible – the Jedox solution is easy to configure and adapts to changing requirements.

Deploy quickly and stay flexible – the Jedox solution is easy to configure and adapts to changing requirements.

Configure without Coding

Configure and customize your solution quickly. A clean and easy-to-use interface for administrators helps to define rules, consolidation scope and methods as well as a customized chart of accounts, cash flow mapping and data validation.

Streamline Data Collection and Validation

Automate data import from your ERP system, Jedox applications or other sources. Find and rectify inaccurate data faster with pre-built data validations and streamline consolidation processes with comprehensive workflows.

Increase Traceability

An audit-proof Posting Journal tracks automated entries and manual adjustments. Simplify complex currency conversions and facilitate intercompany-matching with multiple input and reporting currencies plus various conversion methods and calculations of exchange rate differences.

Customize and Automate Consolidation

The flexible consolidation engine allows you to select the statutory standards you need for reporting such as “country” GAAP, IFRS and others. Utilize standard as well as custom dimensions for consolidation by operating segments and regions.

Report the Way You Want

The consolidated financial information is available for audit-proof reporting according to international standards as well as internal management reporting with custom dimensions. The solution provides a broad selection of reports such as Balance Sheet, Profit & Loss, Comprehensive Income, Cash Flow, Movement Schedules and more. Or share analytics in Jedox web, mobile or Jedox Excel add-in.

Integrated Financial Consolidation, Planning and Performance Management

Jedox Financial Consolidation is a pre-built solution and part of the Jedox software suite for integrated Enterprise Performance Management. All Jedox Models for Financial Planning and Analysis, Sales Planning, Workforce Planning and more enable users to quickly configure integrated performance management solutions for a fast return on investment. With powerful Jedox platform tools Jedox users also enjoy an unrivaled flexibility to design solutions for their unique business requirements.

What Jedox customers are saying

Customer Kvadrat Logo
“Jedox is a flexible solution, not as heavy and unwieldy as other systems on the market.”
Laurent Weiler - Finance Manager, Kvadrat
Partner Logo KPMG
“Jedox provides a single integrated solution for planning, budgeting & forecasting and financial consolidation that can help reduce effort and improve collaboration through standardized data models, harmonized workflows and a unified interface enabling fast adaptation to change.”
Martin Scholz - Senior Manager, KPMG
Baklawa Made Better Customer Success Story Logo

“The Jedox solution for consolidation is easy to implement and we can quickly add new requirements for consolidation, planning and reporting. Jedox is our central repository for all financial information and plays a crucial part in our company-wide performance management.”

Lakshmi Narayanan - CFO, Baklawa Made Better (BMB Group)