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Financial Consolidation and Close Services

Close quickly and on time! Get the right consolidation tools and the right technology partner—because on time matters!

What is Financial Consolidation and Close?

Financial consolidation in large businesses means generating one financial picture of the organization by combining data from each of the parts. Done manually, it can be tedious and time-consuming.

According to Finance’s definition of consolidation, there may be varied accounting structures from multiple subsidiaries or separate legal entities from several countries, complicating the task.

The process often includes importing data from different systems, mapping multiple general ledgers to a single chart of accounts, normalizing the consolidated data, which may include multiple currencies, and producing consolidated financial statements and related reports.

The Financial Consolidation and Close Dilemma

All your numbers work together. Yet, Budgeting and Forecasting inputs derived from period-end numbers often must wait until the close is completed.

There is constant pressure to get the numbers out before the data gets stale because…

  • You can’t understand where you’re headed without knowing where you’ve been.
  • Taking time to consolidate and close holds up and degrades other processes.
  • Manual processes are tedious and time-consuming. For example, spending weeks to resolve journal entries and errors is frustrating and inefficient.

Financial Consolidation and Close Solutions Realized

For Controllers and Chief Accounting Officers who want to streamline their financial consolidation and close processes to close on time, interRel has you covered.

  • Get the consolidation and close done faster and done on time.
  • Automatically and efficiently generate the right statements and filings that meet all the organization’s accounting needs.
  • Quickly generate a global view of the company.
  • With a reduced closing time, spend more time analyzing the numbers.

Rule the world of Financial Consolidation and Close with interRel’s award-winning consulting group.

Get Started

Financial Consolidation and Close Solutions with interRel

  • Strategic Assessment – If needed, we’ll come out and perform an assessment to identify the critical components needed to generate a strategic, organization-wide solution.
  • Evaluate Current Processes – We’ll sit down to talk about your existing consolidation and close processes.
  • Ask Questions and Listen – We’ll discover the unique systems and relevant variables from all your business units, departments and entities.
  • Implement Best Practices – We’ll purposely implement industry-leading practices to keep you up-to-date with consolidation and close trends and to improve the process.
Get in Touch
interRel Consulting

Tel: (972) 735-8716
Office: Globe Life Park
1000 Ballpark Way, Suite 308
Arlington, Texas 76011

© 2019 interRel Consulting Arlington, TX