Automate Your Intercompany to Get Ahead
Learn how advanced automation and collaborative workflow enables intercompany differences to be identified earlier in the month, reducing the burden during the close.
Reconcile Differences Earlier, Close Faster
The key to minimizing delays around the agreement of intercompany differences is to start the procedure much earlier in the reporting cycle and to deploy intercompany accounting software that fully automates the process. In effect, the intercompany process becomes a ‘preliminary close’ in advance of the normal monthly reporting cycle.
Read the Report and See How Intercompany Automation Helps You:
1. Remove between 70% and 100% of the manual effort.
2. Reconcile, eliminate and settle intercompany transactions earlier.
3. Extract relevant information from underlying ERPs in real time.
40% of senior finance professionals say difficulties in reconciliations and intercompany agreement is what delays the reporting process the most.
FSN Research “Future of financial reporting”
Eliminate the Manual Burden of Your Intercompany
Intercompany reconciliations represent a significant manual and time consuming effort during the close. Automatically identify intercompany differences to address this issue earlier in the reporting cycle rather than at the group financial consolidation stage where they are difficult to resolve. This clears the way for the entire process to be accelerated.
Automatically Identify Counterparties
Remove the burden of underlying counterparties across multiple ERP systems.
Calculate Intercompany Differences
Automate the calculation of differences inany currency.
Execute Intercompany Reconciliation
Auto-post system-generated reconciling entries, according to workflow approvals
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