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.
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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:
With Solver, organizations can better manage their financial consolidation processes, eliminating manual errors, saving time, and ultimately making smarter business decisions.
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:
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.
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:
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:
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 offers a wide range of features designed to streamline and improve the financial consolidation process:
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.