Consolidation
Related Information
The Longview Platform allowed Celestica to easily generate standard reports from a consistent and reliable source of information.
With Longview Consolidation , dramatically reduce your consolidation cycle and spend time doing value- added analysis.
Longview's process for consolidation supports the consolidation of data from any source system, including those developed by SAP, PeopleSoft, and Oracle, and validates, translates, eliminates, and consolidates data in real time.
Our software performs foreign currency variance analysis for global organizations operating in numerous countries with multiple currencies and varying exchange rates, and it compares foreign currencies while isolating the impact of rate variances.
The software creates inter-company eliminations seamlessly, without user intervention, greatly reducing time expended on reconciling. Through an easy-to-use interface, department managers and operational personnel can create income statements, balance sheets, shareholder equity statements, cash flow statements, and key performance metrics.
Why Consolidation?
The Challenge
The impact of Sarbanes-Oxley (SOX) and similar legislation is challenging organizations by imposing faster reporting deadlines and requirements to disclose, and be audited on, internal control procedures. The entire process - closing the books, reporting to management, getting auditor sign-off on the results, and issuing an earnings release - is complex, involving many factors that may delay the consolidation cycle.
This increased focus on governance requires increased responsibility, accountability, and transparency, which places significant demands on executives and others involved in corporate reporting, the investors are demanding:
- Financial integrity
- Accurate quarterly and annual reports
- Timely and accurate forward-looking statements based on fiscal reality
The challenge is ultimately about process. Consider the complexity of today's sophisticated organizational structures and global operations, and the necessary currency conversions, allocations, and inter-company eliminations required to finalize the results. The lack of standardized processes, information bottlenecks, missing data, and discrepancies between various operating units, are at the root of the lengthy close cycle for many companies.
Learn how Longview Consolidation can benefit your organization.
