You must ensure that your financial business processes can meet increasingly demanding corporate compliance requirements worldwide. For this, you need to focus on critical aspects of your internal enterprise performance management practices, such as communications, internal controls, records retention, risk and fraud prevention and transparency/visibility. Financial reporting, financial consolidation and business planning, compliance and performance management software solutions can play an important role in guaranteeing this sustainable and lower cost corporate compliance.
Corporate Compliance and Financial Consolidation
Organizations need an effective process to consolidate management and financial results, while ensuring the consistency and trustworthiness of financial data across the enterprise. Ideally, firms should source all of their financial reporting and business management information and manage all of their financial compliance and internal control processes from a single compliance and performance management framework. By doing so they will be able to drive greater speed and efficiency into the financial close process and increase the reliability of financial statements.
How our Solutions Deliver Sustainable Compliance
Unifying performance management with financial governance, risk and compliance, we provide a complete solution allowing managers to better manage and control their businesses.
- Our Financial Governance solution enables comprehensive checking and certification of your financial reporting statements against relevant regulatory laws and guidelines including Sarbanes-Oxley, Tabaksblat (The Netherlands), Lippens (Belgium), Cromme Codex (Germany), Turnbull Guidelines (United Kingdom) and Loi de Sécurité Financière (France).
- A framework which can evolve as your needs and demands change, our solution delivers a standard and structured platform for risk and control including internal control testing and sign-off, process management, documentation, issue management, remediation planning, compliance reporting and dashboards.
- Comprehensive "built-in" financial controls, auditability, visibility and security in our financial consolidation solution extend control to the preparation of financial statements to improve quality.
- Every application in our enterprise performance management suite offers drill-down capabilities from top-level information to data source.
- Multiple categories of data (budget, actual, forecast, SEC, GAAP, IAS) unified in a single data store reduce vast reconciliations prior to disclosure.
- Automation of manual processes, such as intercompany reconciliation, recurring journal entry, report generation and data linkage to source systems, dramatically reduces errors and cycle times.
- XBRL modules in our solutions facilitate financial reporting and the use of external data for peer-to-peer benchmarking.
