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Konsolidator is a Scandinavian SaaS company that delivers a 100 % cloud-based consolidation tool.

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Purpose of cleaning up your consolidation already today

9th May 2022
Brought to you by
Konsolidator Logo

Konsolidator is a Scandinavian SaaS company that delivers a 100 % cloud-based consolidation tool.

Share this content

Can "Time is money" be more literal than in Finance? Everything we do affects business growth, strategy, and cash flow. Amazingly in today’s digital world, many Finance departments keep several manual processes in Excel; this includes their consolidation - which are numbers shown to the government, investors, and the public. So, why do we insist on maintaining an error-prone manual process or delaying the implementation process?

When we talk about financial reporting, consolidation plays a significant part in Group finance. But because it is not a daily task, it often drops in prioritization when the department needs to be digitalized. There can be many reasons for this. But one common thing is that automating this process will bring you one step closer to saving time and delivering error-free numbers. When we look at global research studies, one of the most common reasons accounting firms move to the Cloud is to ‘reduce errors through standardization of processes and tasks.  

Clean up your consolidation process with Konsolidator 

At Konsolidator, we have built software that is easy to use and can easily integrate with existing ERP systems. With our founders being former CFOs and auditors, this software has been developed with the expertise and insight of Group accounting – including thorough knowledge of what is important and what is unnecessary when you need to streamline a complicated consolidation process. Konsolidator aims to eliminate common challenges with consolidation to help CFOs and Group finance professionals deliver stronger results and get more time to influence the company strategy with their unique insight. If you are doing the financial consolidation right now, go through these steps and meet us at Accountex.

Are your consolidation ‘needs’ handled in Excel // download the checklist

Find out where you are using too much time on a standardized process. Is it collecting data from subsidiaries? Maintaining an error-free spreadsheet? Calculating Exchange rates? Collaborating across locations? There can be many reasons for this process losing time. The ones we have mentioned are classic and can all easily be solved with automation. Whether you should move away from Excel consolidation to a dedicated consolidation tool depends on your current situation. Thus, we have created a checklist to make it easy for all finance professionals to assess their Excel Consolidation challenges. To ensure you can deliver accurate and timely data with Excel, go through each of these points and see where your group is. More than three ticks usually equal consideration for a new consolidation tool. Download the interactive checklist here

Is cloud software for your department?  

The answer in most cases would be yes. Even Cloud doubters have started migrating towards Cloud - according to Gartner’s research, 85% of companies are planning their move. We can understand this, especially when looking at the increasing focus on remote work and collaboration. Choosing a cloud software for your consolidation means you get an automated tool with all the necessary features to do a complete consolidation, alongside the added reward of reducing errors through standardization of processes and tasks. Other features of Cloud are:

  • Easier collaboration and remote working
  • Saving time and costs
  • Getting real-time access from any portable device
  • Increased security
  • Mitigating risk
  • Adding flexibility and scalability to help grow the business
  • Centralized document storage

Integration plays a significant part when you choose Cloud software. 

Ensuring that our software is easy to integrate with the rest of your digital ecosystem – is vital. There are many opportunities to create a digital ecosystem that focuses on integrations, not on how much ONE system can bring with digital development today. Say you need an ERP system, a consolidation system, and a reporting system – the more you try to incorporate everything, the larger the system gets and the more difficult it is to implement, learn, and maintain. With Cloud, the supplier looks after the software, making it simple to use. It can integrate with everything you have – ensuring that data flows seamlessly from one application to another. And when it is not relevant, you can simply end your subscription. 

Meet Konsolidator at Stand 56

Learn more about how cloud consolidation can help your team deliver stronger results. And even more importantly, ERROR-FREE result. Come by our stand 56 for a quick chat about whether your company needs to clean up its consolidation. And if you are a Cloud ERP user, you can also get a 2-weeks free trial.

Konsolidator’s cloud-based financial consolidation software is the tool you need to remove the complexity from consolidation, enhance reporting, digitalize your department, save time and resources, and make better decisions for your group. Bring the digital transformation to your finance department with Konsolidator®.