Introducing Consolidate for Global Reporting
Consolidate delivers access to immediate detailed performance information in a common currency
PrecisionPoint, the global Business Intelligence Software developer, announced the introduction of Consolidate, a new data capture tool that makes it easier for multi-national companies that employ a mix of Microsoft Dynamics and other systems, to access detailed operational information on a daily basis. Until now, users of multi-company, multi-currency ERP systems have been limited to consolidation at summary trial balance at month end.
Developed in Response to Market Needs
This important new addition to the product range demonstrates the company’s commitment to the consolidation market. Developed in response to customer demand from users in 25 countries, Consolidate aids a faster close by capturing transactional data and transforming it into high quality actionable information at a consolidated level.
Addressing Complexities in Multi-National Reporting
“The experience most companies have when reporting across multiple companies is that they either have to extract trial balances from each reporting company at period end to a specialised consolidation product or more commonly, they put all of the reporting company trial balances into a series of spreadsheets where highly qualified accountants perform the same tasks manually,” says Michael Evans, CEO, PrecisionPoint.
Consolidate puts an end to the frustrations experienced by those that have committed to ERP systems on a group-wide basis who discover that from a reporting perspective, they are no better off than when each operating company was running its own ERP or accounting system. The new solution enables operational management to see what is actually happening within the company, for example, yesterday’s sales performance analysed by channel and product across markets and presented in a common currency.
Common Challenges With Multi-Currency ERP Systems
Michael adds: “A lot of people buy multi-company, multi-currency ERP systems in the expectation they will have access to detailed information in a common currency. The reality is it is not possible and that is why they need PrecisionPoint.”
