The Power of using Longview for Consolidation
Faster closing times, tighter controls and audibility, real-time consolidation, elimination of manual error-prone tasks, and more time for data analysis - that is what is being asked of finance departments. That is what financial professionals from many of the world's most respected companies are delivering with Longview.
Longview has been providing Consolidation solutions to Fortune 1000 companies since 1994. Our complete, unified and easy-to-use solution based on accounting, implementation and industry best practices will greatly improve and add value to your current close process.
Key features of Longview Consolidation:
Our Longview 7 platform is always in a consolidated state
When data is submitted to the Longview 7 platform, the real-time consolidation process is triggered automatically with no manual user intervention. Foreign Exchange, Cash Flow, Intercompany Eliminations, Calculated Journal Entries, KPIs and more are all calculated in real time. With our Longview platform, your data is always in a fully consolidated state. You don’t need to remember to re-run your consolidation process for that last minute adjustment resulting in faster closing and improved data integrity.
Automated and Seamless Data Integration from any source system
Longview’s Data Integration Suite can seamlessly import data and meta data from any source systems such as SAP and Oracle. Integration can be scheduled, automated and even real-time. Longview can import financial, non-financial and even operational data for all your reporting needs.
Rule-Based Source Data Verification
Longview Consolidation verifies source data through validation rules applied dynamically during data input and import. Longview also applies validation rules to all calculated data to provide enhanced data integrity and controls throughout the entire consolidation process.
Automated Foreign Currency Translation
Longview Consolidation provides automated server-based foreign currency translation to any number of currencies simultaneously enabling companies to effectively translate and consolidate global information. Foreign currency variance can be analyzed and the impact of rate variances isolated for further comparison.
Gain Control of Inter-Company Reconciliation
Longview Consolidation provides automated, server-based inter-company eliminations, a complex challenge in large organizations, so that time previously spent reconciling can be focused on analysis and managing exceptions. Inter-company Reconciliation and Matching reports are available to all users so the reconciliation process can be delegated to the lowest level possible and differences reconciled before the consolidation process even begins!
Automated Cash Flow Calculations
Longview’s Cash Flow is dynamically calculated and fully integrated with your Trial Balance and Continuity Roll Forward accounts and also takes into account any Acquisitions or Disposals. Users also have the ability to make presentation reclassifications and adjustments.
Collaboration with Workflow Management
Longview Workflow helps improve the coordination and management of all Financial Close activities by enhancing collaboration between stakeholders by providing email notifications, data approvals and real-time status reporting. Longview Workflow reduces the overall consolidation cycle time and provides more accountability, ownership and control.
Easy-to-Maintain Allocation Rules
The rich allocation capabilities of Longview Consolidation allow shared costs to be allocated across the organization and provide alternate views of consolidated data. Allocation 'rules' are easy for finance staff to create and maintain. The rules are run automatically, every time data is consolidated, giving alternate P&L views consistently, efficiently and accurately.
Longview automatically calculates and posts adjusting journal entries to account for controlling and non-controlling investments. Longview easily handles changes in ownership by calculating the adjustment based on monthly ownership percentage. In the case of a Minority Interest situation, Longview makes an adjustment to remove the non-controlling portion of earning and also eliminates the investment.
Longview automatically calculates and posts all the required adjustments for a discontinued operation so that users are able to view Management and Statutory Financial Statements.
Local to Reporting GAAP/IFRS adjustments
Longview can import data from any local GAAP general ledger and provides the ability to make reporting GAAP adjustments for statutory reporting requirements. Longview’s DataView provides full data transparency and auditability as users are able to see their data in local and reporting GAAP and can view all adjustments.
Key Performance Indicators (KPI)
Longview Consolidation comes with over 30 standard financial KPIs so that you can better analyze the performance of your business. These KPIs can be used in all your reports and can be displayed your Longview Dashboard so that you can view the performance of your business at a glance and take corrective action.
Self Service Analysis and Reporting and Office Add-In
Longview Self Service Reporting and Analysis is easy to use and end users can create their own local or published reports without any IT involvement. Users can also use Longview’s Office Add-In to create reports using the power of MS Office and leverage their existing Excel-based reports.
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