The VantagePoint team
was extremely dedicated
and committed to getting
results. We had abso-
lutely no major issues
on go live.
Compiling comparable financial statements to satisfy both local and international regulatory reporting requirements, is one of the most common consolidation challenges in today’s global economy. This impacts the smallest of organizations to the most complex multi-national
conglomerates.
Common Challenges
- Hierarchical consolidations
- Time to “close the books”
- Local versus parent reporting
- Multi-currency translations
- Inter-company eliminations
- Minority ownership interests
- Multiple chart of accounts
- Multiple regulatory reporting standards (IFRS, Sarbanes-Oxley, GAAP...etc)
- Auditability
- Data integrity
SAP’s BPC is designed to perform complex consolidations and has built in functionality to address each of the challenges above. The software includes financial intelligence and configurable business rules. VantagePoint consultants bring real world consolidation experience together with an in-depth knowledge of BPC to create world class consolidations applications.
Benefits of a BPC consolidation application
- Single version of the truth
- Reduce consolidation time
- Globally apply corporate standards and best practices
- Common reporting platform
- Real-time updates and reporting
- Reporting flexibility
- Documented audit trail
- Facilitate corporate reorganizations
- Incorporate external acquisitions
- Administered by Finance
- Hierarchies
- Data loads
- Inter-company elimination
- Ownership
- Journals
- FX translation
- Security
- XBRL capability
- Disclosure Management enabled
