IBM Cognos Controller
Complexity in collecting multiple subsidiary data and mapping to a group chart of account
Validating completeness and accuracy of the data
Reconciling Trial Balances, disclosures (movements) to the face of the financials and opening to closing balances are manual leaving room for error and exposure to risk
Dealing with the complexity of inter-company matching is often extremely time-consuming delaying an accurate reliable close
Manual process don’t allow for the automation of foreign currency reserve calculation or the necessary consolidation entries for eliminations
Reporting is not automated or integrated making it difficult to answer questions and provide information in an efficient manner
What is IBM Cognos Controller
Cognos Controller is a comprehensive solution that offers power and flexibility for streamlined, best-practice financial consolidation and reporting — all in one solution.
Its full suite of capabilities delivers a complete portfolio of financial results and provides an integrated platform for financial and management reporting. A web application for reporting site users offers an efficient way of reconciling and submitting data. And an on-cloud deployment option helps organisations meet their individual IT requirements without limiting future options.
Financial teams drive efficiencies, accuracy and reliability into the close cycle
by making use of out-of-the-box capabilities to improve and automate:
Data collection and validation
Workflow and tasks to improve the close cycle
Minority interest calculations
Group closing adjustments
Advanced calculations and compliance testing
Consolidated financial reporting for local jurisdictions and multilingual
reporting that supports IFRS, FASB, Basel II and Sarbanes-Oxley
requirements and is designed to handle any GAAP or regulatory environment
TIME SAVING BENEFITS
Trim days off your monthly close process by automating data collection, data entry and time-consuming consolidation and accounting procedures
Know exactly where your entities are throughout the close process
See who has submitted and processed their consolidations or completed inter-company eliminations
Improve the integrity of your financial data with detailed audit trails, tracking data flow throughout the consolidation process and maintaining accountability
Embrace a self-service, finance-owned and managed solution, giving you real-time data updates and the flexibility to easily define and maintain rules and processes
See ADAPT ITs Expense Management in action
What is Expense Management?
This quick explanatory video will put you in the picture.