Simplify complexity with intercompany automation from Redwood
Automate intercompany reconciliations, invoice matching and eliminations for faster close and accuracy across entities, streamlining financial statements
Stress-free intercompany accounting
- Eliminations simplified: Automate financial management through the identification and elimination of internal transactions across all your business processes ensuring valid consolidated reporting across all legal entities.
- Enhanced reconciliation: Automate reconciliation processes, resolving intercompany differences and decision-making through multi-ERP integration and rules-based adjustments, optimizing the financial close cycle.
- Accelerated close process: With auto-reconciliation in real time, significantly speed up the period-end closing, making the month-end close less time-consuming.
- Proactive compliance: Prevent discrepancies upfront by automating document creation for POs, invoices, and pro forma documents, securing financial data integrity and simplifying intercompany accounting.
Solution overview
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Counterparty identification
Seamlessly identify counterparty-related transactions across multiple ERP systems and your accounting processes, crucial for subsidiaries handling multi-entity reconciliations. -
Transaction reconciliation
Automate currency difference calculations and post-system reconciliations, reducing time-consuming efforts and enhancing accuracy in financial close. -
Elimination postings
Streamline eliminations necessary for accurate consolidated financials, essential for legal entities involved in complex intercompany accounting. -
Compliance and control
Ensure audit trails while preventing discrepancies with upfront matching, promoting transparency and governance across financial data.
Trusted by leading companies
Our satisfied customers include major global corporations, underscoring the reliability and efficiency of Redwood’s journal entry automation in managing complex allocations and ensuring compliance across various legal entities.
Intercompany FAQs
How does automating intercompany transactions accelerate period closing?
Automating intercompany transactions ensures mirrored entries between counterparties, eliminating unnecessary reconciliations and streamlining the close process for subsidiaries.
What key reconciliation capabilities does the solution enable?
Enable seamless multi-ERP integration, accurate currency difference calculations, and rule-based adjustments, simplifying the reconciliation process across financial statements.
How can you help resolve intercompany differences proactively?
Match documents and create necessary postings automatically to prevent discrepancies, enhancing the accuracy of intercompany accounting.
How specifically does automation functionality simplify consolidations?
Early and automated handling of reconciliations and eliminations ensures valid group reporting, making the financial close process efficient for multi-entity organizations.
Does record to report Automation by Redwood offer controls around intercompany processes?
Defined, rules-based workflows enhance compliance, transparency, auditability, and control.
How can intercompany automation strategically benefit finance teams?
Save your stakeholders hours formerly spent on manual reconciliations enables more value-added analysis.
Explore additional intercompany solution areas
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Close checklist
Transform your close checklist with a system that streamlines tasks, enhancing systematic progression and minimizing errors.
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Reconciliation and certification
Speed up reconciliation and ensure compliance with an advanced system designed for precision and efficiency.
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Journal entry
Elevate journal management with sophisticated approval workflows and audit trails, ensuring seamless, compliant recording.
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Accruals, provisions and reclassifications
Efficiently address the most labor-intensive aspects of your R2R process, transforming traditionally challenging tasks into streamlined and effective activities.
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