Financial Close & Consolidation
Use Automated Rules. Fasten Close.
Financial Close & Consolidation
Using a set of sophisticated features, as pre-built automated processes, user-defined rules and connectors to different ERP systems, drill-down to J/E line level, in addition to embedded BI and analytics tools, Kontroller CPM provides an innovative three-layer solution for financial consolidation and analysis: Statutory, Operational and Executive.
Multinational companies will use the multi-currency and multi-lingual features so that subsidiaries manage their books in local currencies when all their transactions will be translated to the 4 consolidation currencies, according to international financial standards.
Kontroller manages the entire financial consolidation process quickly and efficiently. The comprehensive set of features, embedded with outstanding data visualization of Qlik BI – the leading analytics technology, make Kontroller a powerful platform. Kontroller also allows the finance team to easily coordinate activities and tasks across multiple units.
The Key Features
Key Feature
Ready to Use Connectors to various ERP systems
Importing of all relevant transactions is done automatically from various ERP systems (SAP, Oracle, MS Dynamics, NetSuite, Quickbooks, Priority and more) in a frequency defined by the user.
Transactions include: accounts, J/E lines, cost centers and non-financial data. Transactions are validated and the balance of the financial ones is checked.
Key Feature
Fiscal Financial Periods
Each company in the enterprise can define its different fiscal financial year and periods , then the reporting and budgeting reflect the definition.
In the BI modules, calendar year or fiscal year analysis can be chosen.
Key Feature
Conversion of Local Currencies
During the import process each local currency amount, in the J/E lines imported, is converted to the pre-defined consolidation currencies (up to 4) , according to the transaction date.
The revaluation differences, calculated at end periods, are posted to capital reserve accounts.
Key Feature
Automated inter-company eliminations
The eliminations of inter-company transactions are done by automated pre-defined rules.
Inconsistencies between inter-company accounts will be closed automatically and the mismatched amounts will appear in the rejects report.
Key Feature
Adjusting/Additional J/E
Additional J/E can be posted to the company level and to the consolidation level, as well.
These J/E are intended to adjust the structures of the financial statements of the Group companies to the consolidated report structure and/or to adjust them to the required accounting standards (GAAP or IFRS).
All J/E transactions will include converted amounts in the consolidation currencies.
Key Feature
Automated Revaluation
Before production of the final consolidated financial statements, all the Group companies’ Balance Sheet accounts balances are revaluated to the closing date, in the consolidation currencies.
Revaluation J/E are generated when revaluation differences are posted to virtual capital reserve accounts.
Key Feature
Holding Structure
Graphical management and display of the group structure with integrated Drag & Drop feature to add companies or change structure. Management of share of ownership including non-controlling interest, equity and partial ownership.
Key Feature
Sub- Consolidation
You can manage an unlimited number of sub-consolidations each one with its relevant currency.
Key Feature
Partial Ownership
Non-controlling interest rules will generate multi-currency journal entries to reflect, the minority interest, in all the system’s reports. This automatic calculation ensures accuracy and confidence even in complex hierarchies and organization structures.
