Consolidation and Close demos
Financial Consolidation and Financial Close key capabilities include
Chart of accounts and rules
Define control groups between main accounts and related details or variations to be displayed in reports.
Legal entities and hierarchies
Define legal entities and reporting units, and set unlimited hierarchies to support complex ownership requirements.
Conduct event-based management, by period, of the history of your legal structure, such as by percentage of ownership, financial investment variations, or net equity variation and then manage multiple scenarios (holding and sub-holding levels) and consolidation rules.
Currency and Conversion
Tagetik supports unlimited currencies and exchange rates. The moment you enter or load data, you can instantly see currency and exchange rate differences and the associated impact on consolidated actuals in plans, forecasts, models and reports.
In Tagetik, you can generate multiple, simultaneous consolidations for U.S. generally accepted accounting principles (GAAP), XBRL, and International Financial Reporting Standards (IAS/IFRS). All data is gleaned from a single source without having to run multiple consolidations and fully traceable for complete transparency.
Intercompany (IC) matching and eliminations
Tagetik speeds up and automates intercompany reconciliation. Simply right click to add new entries or access the Intercompany cockpit to define groups of accounts for IC matching or eliminations. You can track the status of these transactions through the IC Reconciliation Cockpit.
Controls and Diagnostics
In each step of CPM - from data entry, to adjustments, consolidation and reporting - is governed using automated financial controls, validations checks, and balance. Tagetik gives you completely control over financial processes and captures the history of each data point in audit logs.
In Tagetik, you can manage all financial reporting requirements. How? Tagetik provides you with pre-built logic for credit/debit signs, double-entry logic for creating cash flow statements, automated rounding and scaling, and drill-down capabilities for faster, more accurate reporting and more thorough analysis.
Tagetik’s unified corporate performance management software offering provides a modern and comprehensive solution that includes packaged financial intelligence, in-memory data processing, robust analytics and integration to other systems, databases, programs and applications such as SAP, Microsoft and Qlik.
Tagetik's Consolidation and Close Software is trusted by leading companies across all industries
IFRS Consolidation, MVBS, BPF, IVASS, Solvency II, Technical Provision
Worldwide Consolidation & Reporting
Katja Kabilka - Central Consolidation/ Group Accounting Department
“The process of preparing and reconciling statutory and management consolidation is now considerably faster.”
RABOBANK, NORTH AMERICA
Meghan Maze - Chief Accounting Officer
“We estimate we will shorten our monthly close process by 2 days.”
CRÉDITO AGRÍCOLA GROUP
Francisco Machado - Coordinator of the Accounting Department of Accounting and Retail Services
“We were able to implement a comprehensive consolidation and reporting solution in just 14 weeks.”
On Demand Webinar
CONSOLIDATION & FINANCIAL REPORTING EVOLUTION: HOW AND WHY TIMEX DECIDED IT WAS TIME TO TAKE ACTION
On this Progressive CFO series, Shelly Krpata, Timex’s Senior Manager of Financial Reporting and Consolidation takes you through the journey Timex took, the challenges they faced, and how they benefited by switching to a scalable solution that transformed their close and reporting process.
Browse our Resources
Tagetik consolidates real-time financials from multiple books in a single system for a faster, compliant, close, consolidation and reporting.
Why regulation and consolidation complexity should drive the choice of CPM decision
by Gary Simon - FSN
Consolidation, Budgeting and rolling forecasting, Cash flow, Management and Investor Relations reporting, Annual and quarterly IFRS reporting
Group consolidation, Reporting, IFRS and FinRep compliance, Segment reports and Risk information
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