Consolidation is the technique of summarizing a group of companies' financial statements into one. It is essential for the dual purposes of financial accounting analysis and regulatory compliance. Consolidation makes it possible to have a single source of truth to view and analyze the combined performance of all the companies. Global organizations need to integrate data from multiple source systems, transition them to internationally accepted formats, perform intercompany eliminations and report on them. This becomes tough considering that the consolidation process would include thousands of transactions in varying formats which must be identified, reconciled, eliminated and analyzed.
Oracle Hyperion Financial Management (HFM) is a comprehensive, Web-based application that delivers global financial consolidation, reporting and analysis in a single, highly scalable software solution.
• Accelerate reporting cycles — Reduce closing cycles by days, deliver more timely results to internal and external stakeholders
• Improve transparency and compliance — Helps reduce the cost of compliance (as stipulated by the Sarbanes-Oxley Act, electronic filing, and other regulatory requirements) and support disclosure requirements, such as sustainability reporting
• Perform strategic analysis — Spend less time on processing and more time on value-added analysis
• Deliver a single truth — Provide a single version of the truth to support financial management and statutory reporting
• Easily integrate — Integrate not only with Hyperion products but also with your existing infrastructure