Consolidation & Close

Reduce Risk, Save Time, Become Agile

The consolidation process can seem endless. It is an extremely challenging and a long process to collect data from your departments and to ensure all that information is accurate. A range of problems can occur, including duplicate data, incomplete data and inaccuracies, which makes decision-making a nightmare for business leaders when it comes to planning and budgeting. 

Fortunately, today’s finance teams can access a range of tools to make financial consolidation quick and painless. These include: SAP Business Planning and Consolidation (SAP BPC), SAP Analytics Cloud, SAP S4 Group Reporting, and Clarivos’s out-of-the-box package, INSIGHT for Planning and Consolidation, INSIGHT for Finance Teams, and CCH Tagetik.

Key Benefits

Take Control:

  • Get Greater Control of Your Financial Close - Perform complex consolidations, create regulatory reports and store all data to be faster, more accurate and compliant.
  • Reduce Risk - Increase security and achieve greater control over your organisation, business information and operations. Getting rid of spreadsheets and paper based systems means more lost data.
  • A Single Source of Truth - Standardise information and provide a single source of truth for your organisation. Ensure consistency across consolidation and close.
  • Stay Compliant - Clear and detailed audit trails spanning the entire organisation means greater transparency, traceability, and accountability. A strong compliance framework including auditing, segregation of duty keeps you compliant. Rich reporting means you easily comply with all current and new regulations such as IFRS 16 and IFRS 17 

Faster Close

  • Reduce Financial Close Cycles - Collect, audit and store all financial data and gain deeper insights into your financial performance with feature-rich management reporting. Gain visibility into the progress of tasks by user and region.
  • Quicker Reporting - Stop trying to chase deadlines and become more of a business partner supporting key decisions. 
  • Save Time - Automation means less time spent on data entry, elimination, and consolidation. Spend more time driving better decisions and strategy.
  • Close The Books Faster - Through automation of the data loads, validations and consolidation postings accelerate the process and reduce the time spent closing the books.

Become Agile:

  • Get Running Quickly - Our pre-built solutions are IFRS and GAAP compliant and ready to go, shaving 62% off the implementation process.
  • ‍Become Agile - Continuous consolidation integrates seamlessly with ERP. Real time data lets you predict, adapt quickly and easily to new challenges and changes to company structures. 

Real Time Insights

  • Get More Valuable Insights - Benefit from a straightforward enterprise-wide consolidation & close process in a single platform.‍
  • Greater Insights - Monitor key financial metrics across your organisation.  
  • ‍Consolidate Continuously - ERP Integration allows for continuous consolidation in real-time, throughout the period and shaving days off the period-close cycle.

Smooth Operations:

  • Optimal corporate performance management - Leverage out-of-the-box best practice financial consolidation processes. Reduce the need for customisation as cash flow, balance sheet, income statement, rollovers, CTAs, and more are calculated automatically.
  • Intuitive interface - Perform all of your financial consolidation and close process in a feature-rich and easy to use interface. Make reporting, analysis, workflow and task management simple in a single solution.
  • Seamless App Integration - Leverage existing IT investment by integrating data from other SAP applications or spreadsheets and native databases removing all manual data preparation errors and risks. Easily connect to source EPM and ERP applications such to source data directly. 

Better Collaboration:

  • Better Collaboration, Process and Workflow Management - Promote collaboration with dynamic, data-driven, approval flows. Improve efficiency across the full close and consolidation process and promote accountability and team work.
  • Global Solutions - Support multi-currency, equity eliminations, intercompany, and multiple accounting standards.
  • Work smarter together - Improve work allocation and teamwork with efficient and transparent workflows, and leverage reporting tools, dashboards, and ad-hoc analysis into your consolidation process. 

What We Offer

Why Choose Clarivos for Financial Consolidation and Close?

We understand the struggle. Consolidation and Close is vital to understanding the overall fiscal performance of an organisation. It has to be done but it can be a long, drawn out process. Compiling siloed reports, manual data entry, Excel Hell - these are suboptimal solutions that are vulnerable to error, and costing your business time and money. 

As a growing business, you need to make the change but you need to do it quickly.

Clarivos has a number of out-of-the-box Consolidation packages that'll save you crunching numbers and worrying about compliance. Instead, we’ll help you spend that time closing the books faster, and making data-driven decisions with greater confidence.

Proven Success Stories

We have a number of Consolidation Case Studies. We have proven success in reducing revenue close and month-end reporting cycles. Check them out here.

Multiple Award Winning

Clarivos is a multiple award winning, technology specialist firm. Our innovative solutions to Financial Consolidation and Close are well recognised.

Some of our awards in the last year include:

  • SAP EMEA North Partner Excellence Awards - Innovation with SAC
  • SAP EMEA North Partner Excellence Awards - New Business Category
  • SAP EMEA North SAP ByD Outstanding Performance Award
  • SAP EMEA North SAP ByD Net New Names Award
  • SAP Intelligent Enterprise Partner Ambassador
Your Optimal Implementation Partner

You should choose Clarivos as your implementation partner for 3 reasons. Our best practice solutions come out of the box and can be implemented in as little as 10 weeks. Our multiple award-winning team also has decades’ experience across sectors, with proven client success stories. Our client engagement methodology empowers customers to become self-sufficient, so they get the most out of their investment.

Testimonials

Our assigned Clarivos consultant during the migration project quickly understood all our needs and was extremely professional and knowledgeable. Clarivos understood the impact of any delays and scaled up resource when needed to ensure that we went live on time.
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Our assigned Clarivos consultant during the migration project quickly understood all our needs and was extremely professional and knowledgeable. Clarivos understood the impact of any delays and scaled up resource when needed to ensure that we went live on time.
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I like building and optimising systems, and working with our Clarivos consultant as an embedded member of the team allows us to continually improve.
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I like building and optimising systems, and working with our Clarivos consultant as an embedded member of the team allows us to continually improve.
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Clarivos consultants have been excellent in terms of their ability to come up with designs that suit us really well. They understand our limitations too and that it’s not always about implementing the perfect solution – it’s about implementing the solution that’s right for LOR.
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Clarivos consultants have been excellent in terms of their ability to come up with designs that suit us really well. They understand our limitations too and that it’s not always about implementing the perfect solution – it’s about implementing the solution that’s right for LOR.
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Throughout the development and delivery, Clarivos were a true solution partner - fully committed to our strategic objectives and the successful fulfilment of the project. Their pragmatic and flexible approach to project scoping enabled us to deliver on time and on budget.
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Throughout the development and delivery, Clarivos were a true solution partner - fully committed to our strategic objectives and the successful fulfilment of the project. Their pragmatic and flexible approach to project scoping enabled us to deliver on time and on budget.
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Technology Solutions

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SAP Business Planning & Consolidation (BPC)

SAP Business Planning & Consolidation (or SAP BPC) is an EPM system, delivering Planning, Budgeting, and Forecasting, Management and Compliance into a single application.

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SAP S/4HANA Group Reporting

SAP's next generation tool for financial consolidation and close for both S4 HANA On-Premise and Cloud customers. Continuous Accounting with SAP S/4 HANA Group Reporting

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