(Accelerated Financial Consolidation and Statutory Reporting Solution)

Zensar’s accelerated financial consolidation and statutory reorting solution based on ‘Simple Workable Intelligent Financial Turnaround’ (SWIFT) framework

Business relevance

Globally spread conglomerates grapple with quick consolidation of subsidiary financial data spanning varied currencies and chart of accounts governed by multiple GAAP reporting. Integrating financial data across multiple source systems (packaged as well as legacy) is a major constraint. A systematic, process driven and robust consolidation solution framework goes a long way in addressing these challenges

10 Weeks implementation for $80K*

Solution overview

ZenConsol offers Hyperion Financial Management (HFM) based financial consolidation solution spanning best practices based artefacts for

  • Multiple consolidation methods
  • Compliance as per USGAAP, IFRS with provision for data validations
  • Audit trail and visibility, compliance with SOx norms
  • Multi currency solution with effective currency translations (at EOM, Average and Historic rates).

ZenConsol effectively and optimally distributes consolidation process workload across corporate (holding company) and subsidiary finance stakeholders in order to achieve faster monthly close using minimal stakeholder bandwidth.

Benefits

  • Rapidly consolidate and report financial results, with high degree of confidence in numbers
  • Minimize cost of compliance across diverse regulatory standards across globe
  • Reduce month close cycle by up to 30%

Deliverables

Multiple GAAPsConsolidated std. Report stack
Predefined currency translationCustom consolidation, calculation logics

1 application10 dimensions20 business rules20 data forms
10 reports20 Users

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