Close & Consolidate

Improve the
  • auditability of
  • control over
  • efficiency of
your Close & Consolidation process

The Financial Close and Consolidation process is fundamental to all group finance teams, encompassing and providing a platform for the other core financial processes. Whilst there are limits around what can be achieved in closing an ERP system, the consolidation process is often formulaic and repetitive and lends itself to automation with the right technology. For many there is still a reliance upon spreadsheet solutions that can struggle with consolidation complexity, process control, auditability and regulatory compliance (such as SOX).

At HAYNE, our consultants are financially qualified and have worked in audit and industry in senior finance positions. We understand the fine balance between speed of close and accuracy of monthly management reporting and the regulation and compliance around annual statutory reporting. We understand the intricacies of financial consolidation and the need for auditability from ERP through to final reported numbers. More importantly we know how to combine people, process and technology to deliver a best-in-class Financial Close and Consolidation process.


We will help you improve…

Control & Security

Reduce risk

Gain more control and increase security over the model, data and the process itself

Collaboration

Get more valuable data

Allowing an enterprise-wide close and consolidate process that can be devolved to the subsidiaries.

Speed

Create more time

Automation of repetitive and low-value manual tasks such as data loading, eliminations and consolidation.

Agility

Adapt quickly

Easily adapt to deal with changes in company structures and chart of accounts.

Auditability

Compliance made simple

Detailed audit trail from ERP through adjustment journals, eliminations and foreign currency translation to reported numbers.

Consistency

More control, less risk

Create a defined and controlled process ensuring consistency across the entire financial close and consolidation activity.