Automated Consolidation

An Australian accounting firm requires an automated solution for global consolidated statements to be made swiftly and accurately.

Privately owned utility firm that provides a critical component of the wealth management industry's infrastructure. It codes and manages reference data for unlisted financial products. The company is also the issuer of ISIN (International Securities Identification Numbers) for unlisted managed investment schemes and superannuation funds, and an authorised Registration Agent for the issuing of Legal Entity Identifiers (LEI).

    Automated consolidation

Automated Consolidation

CHALLENGE

The firm had low visibility on their global activity due to national accounting reporting and was in need of a way to easily consolidate its national results into global statements.

SOLUTION

iExcel worked with the team on the design of a chart of accounts, and designed a custom system that captured data from the firm’s proprietary software, and processed it into a consolidated set of accounting reports and dashboards.

IMPACT

The firm is now able to view their global position in a few clicks but also perform analysis thanks to the analytical tools included in the application.