Close your books faster and with more confidence with IDL Konsis, the scalable financial close and consolidation software that streamlines and automates the entire process.
Why IDL Konsis?
IDL Konsis is designed to support an efficient, optimized close, delivering fully compliant, standardized consolidations that cover all requirements for group-wide reporting.
IDL Konsis automates manual tasks associated with financial close, such as data collection, eliminations, and reconciliations. This frees up your team and reduces the risk of errors, leading to faster close cycles. A faster close means reports are available sooner, allowing more time for decision-making.
IDL Konsis has built-in accounting rules and standards, ensuring financial statements are accurate and compliant with both international and regional regulations. This reduces the risk of errors and gives management and stakeholders confidence in your company's financial reporting.
IDL Konsis centralizes financial data to provide a single source of truth. This improves data visibility and analysis. By streamlining the close process, IDL Konsis empowers finance teams to focus on strategic activities like budgeting, forecasting, and providing valuable insights to business leaders.
Manual data entry can lead to errors, and working with siloed data sources adds unnecessary security risks. This can cause a lack of trust in your data and reports. Relying on manual processes also takes up a significant amount of your team's time.
As your company grows and becomes more complex, your close and consolidation needs evolve. Your existing solution may not be set up to support the needs of your team as data volumes increase and you require multi-entity reporting.
Financial reporting requirements change frequently. Close and consolidation software that isn't adaptable to these changes may require constant customization or workarounds, and this limits your team's efficiency.
Financial data is highly sensitive, and your close and consolidation software must have robust security features to protect against unauthorized access and data breaches. Legacy close and consolidation systems can often no longer meet these security needs.
Legacy close and consolidation software is often inflexible and hard to use. Teams need extensive training to use it. This slows down user adoption and often means some team members cannot access the software effectively.
It is difficult to integrate your existing close and consolidation software with Enterprise Resource Planning (ERP) systems and other financial applications. Data inconsistencies and errors can arise if the integration isn't done seamlessly.
Reduce the time taken to prepare financial statements with automated consolidation. Prepare management consolidations and legal consolidations in parallel, even in different consolidation currencies, with multi-dimensional roll-ups matching business units and your legal corporate structure.
IDL Konsis is designed to support all financial consolidation needs of even the most complex groups. Report consolidated financial statements using any international accounting standard, including IFRS, HGB, UGB, US GAAP, and Swiss GAAP FER. Meet all requirements for Country-by-Country Reporting (CbCR).
Prepare high-quality, audit-ready, consolidated financial statements for financial divisions, subsidiaries, and the group company. Work with proven, all-in-one consolidation software, which includes initial consolidation, deconsolidation, matrix consolidation, at-equity consideration, and much more.
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With IDL, we can rely on the data quality in corporate management 24/7, around the globe and in all time zones.
