More Robust and Scalable
Automate your financial consolidation process to eliminate errors and save time
Financial consolidation is a complex process for enterprises with multiple legal entities or departments.
Finance professionals often spend countless hours of work to prepare consolidated financial statements manually for subsidiaries and associate companies. The complexity is further enhanced due to foreign currency translation, elimination of inter-company transactions and different international regulatory reporting requirements.
Icon provides specialized solutions and expertise to help you navigate and manage your financial consolidation process effectively. Our solutions provide financial managers with the ability to rapidly consolidate and report financial results, meet global regulatory requirements and reduce the cost of compliance.
How We Help Our Clients
We can help implement industry leading financial consolidation solutions which will provide a comprehensive view of your financial position by combining financial data from all subsidiaries and business entities and rolling it up to the parent company for reporting purposes.
We can help finance managers to automate and accelerate the financial consolidation process with minimal IT support.
We can implement advanced workflow features to notify users of tasks and enable system wide communication.
We can help to automate inter-company eliminations, allocations, currency conversions, acquisition calculations and more.
Our solutions ensure compliance with IFRS and local GAAP requirements, including XBRL reporting.
Our solutions can track data flow throughout the consolidation process, and monitor performance of subsidiary reporting with status reporting.
Customer success stories
Automation of financial consolidation process reduces intercompany elimination difference by 50%
We helped a global lens manufacturing client to accelerate their financial consolidation process. Our solution enabled them to automate currency translation, inter-company elimination and calculation of foreign currency translation reserve.
Food & Beverage
A global beverage manufacturer reduces manual effort and IT reliance significantly by implementing a financial consolidation tool
We enabled a leading beverage manufacturer to significantly reduce the manual effort required to track journal entries. We implemented a transparent and easy inter-company elimination model which could easily identify differences at granular level.