Financial Consolidation and Reporting



If you are still using spreadsheets for financial reporting, you are at risk. Today's stringent reporting regulations require a single version of the truth - one view of financial and operational results integrated from multiple systems. You need flexible financial models that enable easy what-if scenarios, so when facts and assumptions change, you can easily and quickly produce new statements and views of results. This is a critical component in your ability to deliver consistent and timely financial information to both internal and external stakeholders.

The Prognos consultants have years of experience in delivering world-class financial consolidation and reporting solutions. Our expertise and best practices help shorten your close cycle, improve your controls for better compliance, and expand your reporting and analysis capabilities. Our solutions optimize your company's financial systems, data, and processes so you gain efficiencies in deploying enterprise-wide solutions. We help change the role of your internal staff from just compiling numbers to delivering financial analyses in support of strategic and operational management decisions. Our consultants understand the complexities of global implementations, so we ensure that your financial reporting solution delivers value today, and can also be adapted to comply with future requirements such as pending IFRS regulations.

Prognos consultants have delivered solutions using SAP BPC that helped clients:

  • Streamline management of intercompany eliminations, multi-currency translations, and minority interest calculations
  • Consolidate financial data from multiple different general ledger systems across dozens of reporting locations worldwide
  • Significantly reduce the length of their monthly close and quarterly reporting cycles
  • Utilize web reporting and dashboards to reduce the financial burden of producing costly report packages
  • Lower compliance costs and reduce annual audit fees by improving transparency and data controls
  • Standardize financial reporting metrics and data definitions to increase consistency and confidence in the numbers
  • Automate and verify data submissions to simplify the time-consuming task of manual data reconciliation
  • Link financial close activities with key internal controls, incorporating Sarbanes-Oxley section 302 sub-certifications and section 404 assessments