Financial Close & Consolidation

Consolidation & Close as a Foundation of Finance Transformation

In today’s volatile economic environment, CFOs must lead organizational decision-making processes with insight, speed and confidence.
Yet many are still bogged down by inefficiencies in foundational processes such as the financial close, consolidation and reporting, making it difficult to shift to value-added analysis and decision support.

Although often seen as "must to have", streamlined and CPM enabled Close & Consolidation processes build a critical pillar for Finance transformation programmes and performance management. Also, it is critical for any organization which interacts with auditors, banking institutions, tax authorities or investors where transparency, credibility, trust in financials and reliability are seriously judged.

Our Financial Close & Consolidation services cover the entire cycle: managing the close, transactional matching or account reconciliations, data submissions, simple or sophisticated multi-GAAP consolidations (incl. IFRS, USGAAP, CAS), automation of eliminations incl. investment, equity or intragroup profit or regulatory reporting.

By delivering scalable consolidation solutions and align it with management reporting and analytics or planning processes, our solutions bring true single source of truth.

Partners for Mid-Size or Largest Multinational Holdings

For organizations which outgrew themselves or which need to streamline very complex reporting requirements

Strong Functional Leadership & Process Innovations

Helping you to implement new process methodologies or fill the competency gap, as a part of solution deliveries

Flexible Reporting, Consolidations & Extensibility

Enabling scalable consolidation and reporting solutions with a target to get ownership back to Finance

What do we Deliver

Statutory & Management Consolidations

enabling multi-layer Matrix Consolidation (Statutory, by Country, by Segment, simulations of M&A)

Regulatory, Tax or Performance Reporting

covering CAS, IFRS, USGAAP, FinRep, Tax Provisioning, Supplementary or Country by Country Reporting

Streamlining Financial Close Processes

to give you more time for analysis, modelling and business guidance instead of routine activities

Seamless Data Sourcing & Transformations

to ensure you trust your data and get confidence in your financial performance reporting and analytics

Automation of Core Consolidation Bookings

covering Intragroup balances, realized profit or capital / equity eliminations incl. CTA calculations

Hands-on Functional Transformational Leadership

using our innovative methodologies and combined finance and IT background to unleash your potential

Your Benefits

Trust in Data & Integrity

More trust to data and financials collected from your entities and units. Although the entities in scope of consolidation, their underlying source ERP systems, their nature or maturity may change over the time, Holding consolidations and reporting must run. With our scalable and flexibly solutions we give you true flexibility on how data quality and data sourcing can be secured. This is always a balance between materiality, risks, maturity of subsidiaries, source systems and urgency. With our strong functional finance expertise, we also assist in accounting data audits, cleansing, risk assessments and accounting methodologies review to deliver process wise and technology wise solutions.

Closer to Business

Streamlined consolidation process and bookings enabling your move from annual "must have" to performance reporting. True holding consolidations and reporting, in a full scope, is not developed in various organizations and the focus goes primarily on the PL contributions in ex-post reviews. CFO must have reliable and ongoing insights into all aspects of holding financial performance, covering BS, PL, CF or critical indicators such as working capital movements. We innovate processes, methodologies and CPM technologies to allow CFO to get closer to business and drive strategic value through insights and data.

Simplification

Producing consolidated financial results of holdings may be very complex task. Having timely, accurate insights into always evolving financial performance of individual products, segments, divisions or subsidiaries may even not be possible without proper infrastructure. In current fast changing environment, this reality holds you back and put you in risk. We excel in turning complexity into simpler, smarter and meaningful solutions, giving CFO true strategic value for navigating the business and securing compliance at the same time. Simplification for the users are critical for adoption of financial innovations.

Single Source of Truth

Many even large organizations suffer from fragmented siloed processes. Processes such as consolidation, profitability reporting, KPI calculations, covenants calculations, budgets and financial forecasting is not unified. Every process, different tools, different process owners, lot of spreadsheets, complicated data interfacing, different data structures. Solution? With OneStream leading CPM platform, we allow larger organizations to unify and bring critical financial processes into a single proven system. Native integration, single user interface, validated data and fully integrated data models for various processes, single licensing and ... ultimately true single source of truth. No more inefficiencies and discussions who has better data. Drill consolidated results into product performance reporting and compare easily their profit contribution against organizational latest rolling forecast.

Focus on Value

You will get confidence in foundational finance process of Close and Consolidated reporting. With our reach hands-on experience, modern CPM solutions and true partnership, we will enable your teams to take control and free their time for analysis, business navigation and focus on value. To achieve that, we bring unbiased and apolitical international best-practices. Also, with our pre-built core CPM solutions (Consolidation Starter Pack) you will get faster tangible results.

If you need to transform financial management and innovate key application and process infrastructure, cooperation with SIMPLEBEEZ has pushed us forward from the very first moment. They performed a gap analysis and compiled a detailed transformation roadmap. They connected the finance and IT teams, their interests, priorities and strategies and set clear process and application goals, optimal for supporting the future growth of the entire Packeta Group.

SIMPLEBEEZ team is able to quickly implement modern FP&A and financial processes, in our case planning and financial consolidation specifically.

SIMPLEBEEZ has very experienced managers, with a unique combined knowledge of finance, IT and process management, who can very quickly develop the necessary influence and insight into the business and focus on the result. At the same time, they are apolitical and can roll up their sleeves and get most of the complicated stuff done, which I find the most valuable. I certainly recommend their engagement for larger transformation programs to all organizations that are aiming for added value and results.

David Soukup, Group CFO, Packeta

We approached SIMPLEBEEZ for cooperation on the consolidation project, which included all phases, from the initial analysis, implementation to the handover of the finished working process.

Most of all, I do appreciate the speed of identifying what our company exactly needs, the natural integration into the internal team and the connection to the company's processes so that we move quickly and efficiently towards the goal.

I consider the efficiency of the consulting team and excellent project management to be the biggest asset for us. It goes without saying that the extensive expertise of all members of the consulting team and their high level of commitment at times when the project needs to be moved forward is a matter of course.

Pavla Uhrová, Head of Finance, PRO.MED.CS a.s.

As the Packeta Group grows and expands rapidly, it requires transformation of processes, IT solutions and management of group corporate finance. SIMPLEBEEZ quickly fit in with the internal teams and were involved in leading the group's ERP implementation project.

This has so far included the design of process and data architecture, running the RFP and supplier selection process, project management, complete ownership of functional process design and implementation for the area of finance, procurement or logistics, including testing and transfer of know-how to internal teams.

At the same time, they act as an efficient connector and moderator between finance, HR, IT or operational teams. SIMPLEBEEZ team provided the unbiased view, necessary experience with similar projects and innovative approaches required for our transformation from a Central European startup to a Pan-European player.

They helped us to set up, strengthen and innovate the processes that needed to be adapted to the rapid growth of the Group.