Financial Consolidation, Statutory Reporting and Group Controlling
Jedox is equipped with a number of predefined models that consist of ready-made components for building an integrated planning, analysis and reporting process. Instead of designing individual modules from scratch, you simply adapt them to the requirements of your company. This reduces the risk and saves time for implementing planning solutions. Predefined models combine many years of business experience and best practices with the latest technological solutions.
The strength of the Jedox models is their mutual integration. One of them is the Financial Consolidation Model. The Jedox Financial Consolidation Model is a configurable software solution for statutory consolidation and management reporting that enables the office of finance to meet internal and external requirements with high speed, agility and consistency.
The solution automates complex consolidation measures and accelerates financial reporting that is audit-proof and meets international standards such as IFRS and US GAAP and ‘country’ GAAP. Flexible management and KPI reports provide the CFO with financial insight and other business functions with validated financial data for self-service analysis.
Jedox enables the integration of consolidation and financial reporting with planning, budgeting and forecasting on one platform for digital finance for group-wide performance management and decision-support.
The financial consolidation process with Jedox:
– Automated data import from ERP, Jedox apps and other sources
– Plausibility checks and data validation
– Workflows for data collection
– Intercompany matching and reconciliation
– Automated & manual adjustments
– Currency translations & foreign exchange differences
– Automate Consolidation (Capital consolidation, Non-controlling interests, Debt consolidation, Expense & income consolidation, Elimination of unrealized profit on inventory, Adjustments of deferred taxes)
– Simultaneous consolidation of subgroups
– Consolidated balance sheet, P&L, comprehensive income, cash flow, movement schedules, changes in equity, and more
– Integration with planning, budgeting and forecasting
– …and many more!