The ultimate web-based financial consolidation and reporting software
Financial consolidation and reporting is a time consuming process that gets more and more difficult as a company grows.eCons Direct- The Financial consolidation software platform is a wholly managed, highly customizable set of financial services that will help you to meet your Financial Consolidation needs. It will supplement your existing Financial Enterprise Resource Planning (ERP) systems, providing periodic financial consolidation and meeting ad-hoc reporting needs.
eCons Direct enables quick line by line financial consolidation with intelligent management reporting and analysis. We will handle your entire process, right from mapping your organizational structure, to collating and updating the data in the system to carry out regular financial consolidation.
- You can accurately define your company group structure.
- Possible to have multiple hierarchies (based on segments, geography etc.).
- Trial Balances can be imported from almost any accounting system such as SAP, Oracle Financial, PeopleSoft, and QuickBooks.
- You can define a common reporting framework, and multiple report formats if required.
- The account groups can be dynamically designed according to the prescribed Schedule VI format, IFRS format, or any other GAAP format.
- Trial balances can be imported in the local currency of the company.
- You can map each company’s Trial Balance accounts to the common reports.
- You can eliminate the business between all group companies.
- The elimination process interface is in the form of a lucid workflow.
- Minority interest can be calculated through user definable formulas.
- A ‘Corporate Lock’ facility is available to lock the data of all companies before going ahead with the consolidation
- The consolidated report can be generated monthly, quarterly, annually or even ‘for a period’.
- You can compare current and past periods. e.g. You can compare the current quarter’s results with that of the same quarter in the previous year or with the previous quarter and so forth.
- Reports for all companies can be obtained in their base currency or converted to the holding company’s currency.
- Calculation and reconciliation of the Currency Translation Reserve (CTR) arising out of the difference in currency rates is automated and handled elegantly.
- Easy generation of reports of segment results (P&L), segment assets and segment liabilities for primary and secondary segments.
- Inter-segment adjustments can also be handled.
- You can define formatted textual notes and attach these to different schedules.
- You can enter your budgets, including revisions, and make comparisons against the actual results.
- You can export reports to MS Excel with minimum effort.
- An ad-hoc report generator can create a report after taking figures even from other reports on the platform.
- You can define users and give appropriate access rights to each user.
- The Platform is built using .Net technology from Microsoft and is cloud enabled.
- It is available as a service off a cloud server (in which case all you need is a browser) or it can be installed on an existing server at your HQ.
- The end users only need a browser with connectivity to your server.