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IFRS Statutory Consolidation and
Management Reporting
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Budgeting, Forecasting and Reporting
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Narrative and External Financial Reporting
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Move your Organisation to a powerful modelling platform and construct budgets based on key business drivers
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IBM Planning Analytics Solution
This FPM solution provides a framework that allows for completely customised models that replicate and greatly enhance any budget calculations currently being performed in large Excel spreadsheets.
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Payroll/HR
- Budget by employee, salary and other cost to company components
- Automatically import data from the payroll system
- Apply an increase at a certain date for all staff, or categories
- Budget for new employees with unique business rules
- Budget smarter for employee-related costs like laptops, uniforms
- Reduce time spent budgeting, increase report accuracy
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New Assets
- Budget properly for property, plant and equipment investments
- Get accurate charges to income statement and balance sheet
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Rolling budgets & forecasts
- Use historical data to project future numbers in a flexible manner
- Update original budget using calculation logic and actual year-to-date values
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Sales
- Budget by customer, by products across areas, in local and group currencies
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Travel
- Manage all travel costs and expenses centrally
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Operational cash flow management, budgets and forecasts
- Accurate cash flow forecasting is critical in financial performance management
- Factor in all relevant drivers (debtors, VAT, income tax, current bank balances etc)
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and Anything Else you can think of!
- If you can conceptualise it, Planning analytics can model it!
- We can model the calculations in the most complex Excel spreadsheet, and then do many things that can’t be achieved in Excel
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What-if scenarios
- Flexibility to apply different business assumptions to your business plan
- Quickly and easily compare different versions without duplicating spreadsheets
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No more stressing over passing last minute journal entries, cross-checking for accuracy, dealing with multiple currencies and inter-company eliminations.
IBM Cognos Controller (Consolidations)
Finance-owned solution that can be operated and expanded internally without specialist skills.
All consolidation rules are configured in an easy-to-use application interface.
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Map trial balances in a once-off exercise and load them against a standard reporting chart of accounts.
Store every piece of information required for annual financial statement preparation and apply automatic consolidation rules.
Store and consolidate financial and non-financial data, including key ratios, employee numbers and segmental information.
Create control structures that meet different reporting requirements, e.g: monthly management or statutory reporting or geographical reporting to mention a few.
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Multi-currency financial reporting
- Streamline and automate processes, right down to Foreign Currency Translation Reserve (FCTR) values.
- Make allowance for different rates for actual, budget, and forecast values, including experimenting with what-if scenarios at different rates.
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New Assets
- Deal with business structural changes easily without having to conduct a massive spreadsheet-based overhaul.
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Income statement/statement of comprehensive income
- Substantial underlying logic makes it easy to group together cost centres and deliver the required chart of accounts.
- Automate the processes behind producing the financial statements, present information in multiple ways to cover statutory and any other format required for management reporting.
- Visualise the impact of business actions without the risk of cut-and-paste exercises and the difficulty of reconciling back to source systems.
- Compile custom statements based on specific grouping of different cost centres across legal entities for a month, a quarter, a certain YTD period, or another scenario in local and/or group currencies.
- Generate different statements on demand in minutes, not hours/days.
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Industry-specific financial reporting
- Get a handle on industry-specific reporting and/or ratios as part of the management reporting process.
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Automatic eliminations
- Including automatic calculations for minority interest and equity accounting is easy and intuitive, regardless of whether on an inter-company transaction or on an acquisition transaction level.
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Cost allocations/reallocations
- Deal with expenses not directly related exclusively to any specific business area.
- Re-allocate the costs on headcount, revenue, percentage split, or an industry-specific allocation methodology.
- Apply complex rules securely and test different allocation methodologies during finalisation processes.
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Balance sheet/statement of financial position
- Easily produce monthly consolidated balance sheets.
- Enables a clear, realistic view of the financial position of your business.
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Cash flow statements
- Benefit from reviewing the flow of cash over the reporting period on a month-to-month basis.
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Compiling financial statements for external reporting is a compulsory statutory reporting function carried out by highly-skilled, costly resources in the finance team.
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Complete reports in less time, with greater accuracy through automation
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Skilled finance resources freed from time-consuming, repetitive tasks
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Reduce the stress and auditing costs associated with reporting periods
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Overcome growth pains as volume of data and regulatory demands increase
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Avoid multiple contributors passing files over unsecured channels
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- Extremely intuitive to use: Minimal training required on interface.
- Reduce risk, cost, and data inaccuracies: One version of business truth.
- Ensure process consistency: Automate manual copy-and-paste processes.
- Enhance security and control: Compliance and governance is built in.
- Deploy to all contributors: Reporting requirement-based licensing.
- Streamline document review: Same document, different access levels.
- Various output formats: generate high-value documents with XBRL tags.
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