FESA Consolidation is dedicated to improving efficiency and internal control over the preparation of consolidated financial statements and also the execution process related to performance management for a group of companies.
FESA Consolidation is dedicated to improving efficiency and internal control over the preparation of consolidated financial statements and also the execution process related to performance management for a group of companies. It provides automation and streamlines of group consolidation and budgeting functions to meet financial regulatory requirements and to facilitate the reconciliation between differing standards. Moreover, it offers a high-speed platform that the entire consolidation process is totally automated, therefore dramatically improving efficiency whereas shortening the closing time.
Information collected can be used in both financial and management reporting, which can be deployed in different ways, for example, dashboard and spreadsheet, or desktop and mobile device, or Windows and Linux, etc.
- Automate the entire consolidation process and eliminate processing time, for example, monthly closing for group consolidation can be reduced to a day
- Support different types of data sources for consolidation, including transaction, voucher, trial balance, and financial reports
- Generate different scenarios, for example, the first scenario is to comply with IFRS requirements, and the second scenario is for monitoring of business performance by adopting specific measurement rules
- When each batch of incoming financial data is confirmed for processing, the relevant vouchers will be overwritten automatically until period end closing is executed
- Support multiple exchange rate types, including opening rate, closing rate, average rate, historical rate, and the composite rate
- Automatic currency translation including the computation of exchange realignment for certain non-current assets and liabilities
- And more …