Financial Data Consolidation for modern business
Modern companies, especially those with a holding, branched, or multi-level structure, face challenges in managing financial data collected from various systems, especially when accounting in branches and divisions is conducted in different currencies.
The financial data consolidation solution based on the Microsoft Dynamics 365 Business Central platform is designed to generate consolidated reports in compliance with Ukrainian standards and IFRS. This is an effective tool for analyzing a company’s financial status and supporting strategic decisions based on real data.
The solution enables management and business owners to obtain comprehensive, reliable financial information across the entire holding, allowing them to make effective managerial decisions.
Key features of the data consolidation solution
- Automated data aggregation
The system allows financial information from different sources to be consolidated, minimizing manual work and reducing the risk of errors.
- Currency conversion
Easy transformation of data into a single reporting currency facilitates work with multinational divisions and ensures consistency in financial reports.
- Flexible analytics
The use of analytical dimensions (e.g., by business segments or regions) enables detailed analysis and forecasting.
- ERP system integration
The platform supports the possibility of integration with leading ERP solutions, including Microsoft Dynamics, SAP, and others, creating a unified information space.
- Data transparency and control
With the audit trail function, all changes are recorded, ensuring compliance with auditors’ requirements and international standards.
Functionality
Data collection and transformation
Allow accounting data from branches to be transferred for further processing. Flexible data transformation settings enable the creation of consolidated reports according to the requirements of the parent company.
Intercompany transactions
The system allows to keep records of business transactions carried out by branches among themselves, as well as to take into account such internal business transactions in corporate reporting or exclude them when processing data.
Analytics
Comprehensive analysis based on parameters and analytical dimensions.
Reporting
Automatic generation of management reports according to predefined rules, both for individual branches and as consolidated reports in the required currency.
Key benefits
- Accuracy and trust
Automation reduces the risk of inaccuracies and enhances confidence in financial statements.
- Time savings
Minimizing manual work allows the team to focus more on strategic tasks.
- Fast decision-making
Accurate and up-to-date information is available in real time, enabling management to respond quickly to current challenges.
- International standards sompliance
IFRS support makes this solution optimal for global companies.
- Analytical dimensions
Provides in-depth data analysis based on various parameters such as business directions, regions, projects, or other key business indicators.
- Audit trail
Records all changes in financial data and processes, ensuring transparency, compliance with international standards, and trust from auditors.
- Corporate currency recalculation
Automatically converts data into a specified corporate currency for creating unified and consistent financial reporting.
Why choose a Microsoft Dynamics 365-Based solution?
The Microsoft Dynamics 365 Business Central solution combines flexibility, reliability, and scalability. The platform allows functionality adaptation to meet unique business needs while ensuring stable performance for large data volumes.
The system has a large amount of additional modules that support specifics of different industries.
Select business processes which system should cover
Do you have questions about financial data consolidation? Would you like to know more information on implementing a financial data consolidation solution based on Dynamics 365 Business Central for your company? Call us at: +38 044 490 22 20 (UA) or +1(302)4672024 (US) or write to erp@innoware.com
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