To collect information however once and—at an equivalent time—to perform each statutory and management consolidation, information should be reported at rock bottom common divisor. Organizing information by business space, product, or client permits consolidation with elimination of internal transactions, ultimately providing an entire profit-and-loss statement on any of those dimensions. Statutory consolidation and accounts are supported an equivalent information, however a lot of aggregate and in several dimensions.
- Integrate processes and systems for management and statutory consolidation and news.
- Leverage a platform for increased management and company news and analysis.
BENEFITS OF CONGOS
- Increased potency within the monetary consolidation method.
- Easy implementation to assist mitigate risk throughout implementation.
- More than two hundred pre-defined customary reports that improve content and increase effectiveness within the company news method leading to a better come back on investment.
- Templates for straightforward creation of ordinary management reports.
- Flexibility to change existing reports or custom style new ones.
FINANCIAL AND MANAGEMENT CONSOLIDATION COMPRISES FOUR STEPS:
- MAINTENANCE: Cognos Controller consists of variety of predefined structures like account, actuals, company, and free extended dimensions. endless method updates these structures for every news amount. the corporate dimension may be a pre-defined structure for outlining teams, subgroups, companies, and their relationships.
- DATA COLLECTION: Data is entered manually or via import from text files. New in Cognos eight Controller could be a full Microsoft surpass interface for making powerful, versatile information entry screens.
- DATA PROCESSING: When knowledge from all entities and subsidiaries is collected and reworked to a typical read or chart of accounts, the particular monetary consolidation method will begin.
The process consists of:
- Currency conversion, since all corporations should gift figures within the same currency, otherwise they can’t be extra along.
- Elimination of intercompany balances, intercompany profits, inter-company transactions, and internal transactions.
- Eliminations of investments in subsidiaries and alternative acquisition calculations.
- DATA OUTPUT: Cognos Controller offers over two hundred pre-defined commonplace reports. commonplace reports area unit enclosed in a very default installation and may show each knowledge and information. The reports contain all the options needed to support the shut method, and mechanically support any client configuration.
- Broad Range of Users
Simplified role based interfaces
Targeted content and capabilities
Flexible and scalable platform
- Better Decisions
Based on accurate, complete information
Aligned with strategic goals and initiatives
Based on proven practices
Information when users need it
How they need it
Where they need it