Parent companies. Multi-national divisions. Subsidiaries. Expansion. Mergers. Acquisitions. Wouldn’t it be grand if all facets and divisions, in all countries and regions of your company came together with one financial processing system in place? Unfortunately, that is a pipe dream. However, if a company wants a true snapshot of its bottom line, it needs to tame the financial octopus and integrate different financial systems.

Lack of Financial Consolidation Issues

Using disparate manual, semi-automated, or automated systems is a time-consuming and error-prone process that makes intercompany reconciliations, foreign currency translations, minority share calculations, and other allocations and calculations difficult to compile accurately or complete in a timely manner. However, it can be difficult to create a financial consolidation solution that includes the customization you need and frees finance staff from its dependency on IT resources. If the system does not function effectively, it can lead to a lack of adoption by key stakeholders. The new solution can quickly become “shelf-ware” as users resort to old ways of doing business.

ThinkNet's Financial Consolidation Solutions

When it comes to implementing financial consolidation solutions, one size does not fit all. That is why ThinkNet works with your finance and IT management teams to select and customize the right solution, based upon your business needs and financial processes. In short, together we explore different solutions, identify the best-fit, and implement it according to your timetable. We then train your staff and offer support and services so you can maximize your ROI.

Financial Consolidation Benefits

An integrated, effective financial consolidation solution presents one true vision of the company’s bottom line while making it easier for senior management to understand how each component of the organization is contributing. A financial consolidation system that greatly reduces errors, is easier to use and manage, and effectively integrates all components of an organization and allows management to make accurate forecasts and better decisions based on fact rather than on conjecture.

Technology Agnostic Equals Best Practices

As a technology-agnostic professional services firm, ThinkNet’s IT strategy is your best-fit IT strategy. ThinkNet is not committed to any particular IT applications or hardware platforms. Instead, ThinkNet is committed to developing, implementing, and supporting a best-practices, end-to-end, strategic IT solution based upon your particular business objectives.

More Information

To learn more about ThinkNet’s practical, enterprise-level, professional consulting and implementation services, call or email ThinkNet today:

• Click here for information on ThinkNet Financial Solutions
• Click here for information on ThinkNet IT Services