Consolidation: Streamline Your Financial Data with Solver

Consolidation is a critical aspect of financial management for multi-entity companies, ensuring a unified and accurate view of an organization's overall health. Solver, a comprehensive, cloud-based extended financial planning and analysis (xFP&A) tool, simplifies the complex task of consolidating data across sources, companies, and borders. By bringing financial data into a single source of truth, Solver empowers businesses to make smarter decisions faster.

In a world where multi-entity organizations span borders and time zones, consolidating financial data across different systems is no easy feat. Solver automates financial roll-ups for companies with entities spread globally, saving time, increasing efficiency, and reducing manual errors.

With Solver's financial consolidation tools, CFOs and CEOs can manage financial data and create reports that provide key insights into the health of the business. These insights allow for informed decision-making and ensure regulatory compliance, critical in an increasingly global economy. Solver consolidates data from multiple sources into a unified report, automatically performing currency translation, making consolidation adjustments, and managing processes—all while integrating seamlessly with other financial tools.

Solver is designed to support even the most complex consolidation needs of multinational companies, including those with diverse charts of accounts and fiscal calendars.

Watch this video to see Solver in action

Enhance Efficiency with Solver Consolidations

Solver doesn’t just simplify the consolidation process; it makes it more efficient. By integrating with various enterprise resource planning (ERP) systems, Solver can streamline repetitive tasks and ensure accurate financial statements. This ensures companies have up-to-date, precise data without spending countless hours manually compiling it.

Key consolidation features of Solver include:

• Currency Translation: Automatically convert currencies for accurate global financial reporting.
• Elimination Entries: Automate the identification and removal of intercompany transactions, reducing manual adjustments.
• Adjusting Entries: Handle complex reclassifications and adjustments, even when working with large volumes of data.
• Process Manager: Automate workflows with a step-by-step checklist to ensure efficient and timely consolidation.

With Solver, organizations can better manage their financial consolidation processes, eliminating manual errors, saving time, and ultimately making smarter business decisions.

Easily Consolidate Complex Data Through Solver’s ERP Consolidator

Consolidating data from multiple ERP systems can be one of the most daunting tasks for financial professionals. Solver’s ERP Consolidator tool simplifies multi-ERP reporting and consolidation by automating the process of mapping subsidiary general ledger (GL) data to a corporate format.

This powerful tool allows you to generate reports in dual formats, providing side-by-side comparisons of subsidiary data for better insights. Plus, the ability to run audit reports ensures that your consolidated financials are accurate and compliant with internal and external standards.

Key benefits of the ERP Consolidator include:

• Reduced time and cost in monthly GL data conversion and consolidation.
• Streamlined discussions of financial results and variances with subsidiaries.
• Secure, documented GL data mapping.
• Quick implementation—just a matter of days rather than weeks or months.

Solver’s ERP Consolidator also integrates seamlessly with Solver without any additional licensing costs, providing a cost-effective and scalable solution for companies looking to streamline their consolidation processes.

Benefits of Solver’s Consolidation Tools

Accurate financial consolidation is the foundation of effective financial reporting, budgeting, and analysis. Without accurate data roll-ups—accounting for currency exchange rates, intercompany transactions, and reclassifications—the integrity of your reports is compromised.

Solver consolidation tools enhance accuracy, flexibility, and efficiency. Below are some of the key advantages:

Efficiency

• Process Manager: Automate and streamline the consolidation process using a checklist-driven approach.
• Automatic Currency Translation: Eliminate the manual effort of currency conversions, ensuring consistent data.
• Elimination Entries: Quickly and accurately remove intercompany transactions without manual journal adjustments.
• Multi-Company Consolidation: Simplify the process of consolidating data from multiple entities into a single report, reducing the need to manage complex spreadsheets.

Flexibility

• Multiple Charts of Accounts Handling: Manage various charts of accounts across subsidiaries and regions.
• Automated Elimination Rules: Save time and effort with pre-set rules for eliminating intercompany transactions.
• IFRS/GAAP Adjustments: Handle accounting standards differences, such as IFRS to GAAP adjustments, with ease.
• ERP Integration: Consolidate data from different ERPs without needing IT intervention.
• Multilingual and Multi Currency Support: Operate across borders with support for multiple currencies and languages, simplifying global financial management.
• M&A Support: Easily integrate new subsidiaries during mergers or acquisitions, and model organizational changes as they occur.
• Multiple Fiscal Calendars: Manage varying fiscal calendars for different operational needs.

Accuracy

• Automated Roll-Up Features: Minimize manual consolidation errors by leveraging Solver’s automated roll-up functions.
• Disparate ERP Mapping: Consolidate data from different ERP systems, ensuring a seamless integration of subsidiary data into corporate reports.
• Currency Conversion: Pull the latest exchange rates for accurate and real-time currency translation.
• Elimination Entries: Automatically identify and eliminate intercompany transactions, ensuring more precise financial reports.

Intelligent Decision-Making

• Variance Analysis: Monitor budget vs. actual performance with detailed variance analysis, helping to control costs.
• Ad-Hoc Reporting: Generate reports on-demand to respond to questions or changes in business performance.
• Drill-Down Capabilities: Access more granular data to better understand key financial metrics and inform decisions.
• Flexible Report Filtering: Use advanced filtering to gain better insights into specific areas of your financial data.
• Versatile Reporting Formats: Support a variety of report formats, including transaction detail, variance, trends, and KPIs.

A Cloud-Based xFP&A Software Solution for Financial Consolidation

Solver’s cloud-based platform offers the flexibility and accessibility needed in today’s fast-paced, global business environment. With Solver, businesses can consolidate subsidiary data at the divisional and parent company levels, using a single, dynamic system.

Solver’s platform offers these advantages:

• Operational and Financial Reporting: Manage both operational and financial reports within the same suite, allowing cross-departmental analysis and collaboration.
• Web-Based Interface: Access your data from anywhere in the world through Solver’s cloud-based platform, making it easy to stay connected to your financial information no matter where you are.

By offering a comprehensive, cloud-based solution, Solver ensures that businesses can remain agile and responsive to changing market conditions, all while maintaining accurate and up-to-date financial data.

Solver Consolidation Features

Solver offers a wide range of features designed to streamline and improve the financial consolidation process:

• Multi-Company Financial Consolidation
• Automatic and Manual Eliminations
• IFRS/GAAP Adjustments
• Currency Conversion
• Disparate ERP Mapping
• Unlimited Allocation Rules
• Flexible Reporting

Download our Financial Consolidation E-Book

Solver is trusted by organizations worldwide, including in North America, Europe, Latin America, Asia-Pacific, and Africa. If you’re ready to see Solver’s consolidation features in action, contact our team today to request a demo and learn how Solver can help transform your financial management processes.