FCM – Financial Consolidation Management

Management, accounting and controlling departments, as well as chartered accountants have varied requirements as far as the presentation and analysis of a group’s corporate financial figures is concerned.

Today’s organizational structures require a financial management that lets group companies do much more than just the mere posting of business transactions in order to create individual year-end or month-end closings.

Distributed sites, different currencies and charts of accounts, as well as different rules for evaluations and financial statements are the challenges corporations are faced with. Particularly expanding companies and those eager to go public require a fast and reliable solution to consolidate year-end closings of subsidiaries or newly acquired companies in a simple but meaningful way.

The continuously developing markets lead to growing numbers of mergers, acquisitions and company splits, as well as to changing participations. Therefore, adjustments to your consolidation solution have to be ensured at any given time.

See how Portolan handles these dynamic requirements:

Portolan’s consolidation solution links FIA Financial Accounting to the planning and analysis functions of a corporate’s information system. Corporate data can be analysed with respect to different criteria and processed to support corporate-wide strategic decisions. The procedures for acquisition and documentation of the data have been acknowledged by renowned auditing companies

FCM from Portolan provides a convenient and easy-to-use interface. In addition, flexible consolidation presentations allow performing various group analyses.

Powerful and approved standard applications, such as Microsoft Excel©, arc plan inSight®, and APPLIX iTM1®, are comfortably linked to each other, automatically ensuring the best possible ROI for your investments. A central screen, tailored to the customer’s requirements, allows accessing any analyses, acquisitions masks, and functions.

Are you sure that you have all data from your subsidiaries and participations that need to be consolidated available? Different reconciliation reports (e.g. by companies or consolidation levels) provide a fast and reliable control. Extensive plausibility checks ensure that only complete and coordinated data can be consolidated.

A clearly structured user interface allows you to enter manual consolidation postings quickly.

Complete integration with Portolan FIA Financial Accounting

  • Automated transfer of HB1 or manual entry
  • Reconciliation analyses are linked dynamically to APPLIX iTM1 (OLAP Data base) and can be designed user-defined through the integration with Microsoft Excel©
  • Plausibility checks for the consistency of results (e.g. Assets = Liabilities group relations, etc.)
  • Flexible structures for accounts, companies, and corporate levels
  • Parallel processing of different consolidation methods (US-GAAP, IAS, HGB, etc.)
  • Definition of consolidation type and automatic postings
  • Stepwise and/or simultaneous consolidation
  • Concurrent processing of any number of group currencies
  • Convenient opening and locking of periods, years, and versions to prevent unwanted changes
  • Parameter for calculations (exchange rates, accounts, etc.) and automatic postings (group structure, historical assets, etc.)
  • Manual single entries and periodical standing journals
  • Customized analyses