Traditionally many companies have made use of excel for financial consolidation. Excel-based solutions may be fine for a one-off annual exercise. However, Excel solutions are error-prone. Furthermore, all the consolidation rules have to be built manually.
As the internal and/or external reporting requirements become more demanding a dedicated consolidation system can really help save time. Just adding one of the following requirements would be very difficult and time-consuming for excel models:
- Consolidate Monthly or quarterly
- Consolidate Budget and Forecasts as well as actuals
- Group structure changes
- Plan for sales/acquisitions
- Different charts of accounts in group companies
- Matrix reporting
Corporate Planner has developed a complete Corporate Performance Management solution. The platform is generic and is used by all sectors. The core ethos of Corporate Planner is that the finance teams run the system.