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If your organization operates across multiple offices, currencies, or frequently changing structures, you’re likely familiar with the challenges of financial consolidation. Piecing together data from disparate systems, tracking ownership, converting currencies, and hunting for errors can turn the close process into a nightmare. IFS Group Consolidation changes that by automating the entire process, giving you accuracy, speed, and peace of mind.
Many finance teams still rely on spreadsheets for consolidation. While spreadsheets are flexible, they’re also error-prone, time-consuming, and difficult to audit. Manual processes, such as FX translations, intercompany matching, and equity tracking, consume valuable time that could be spent on strategic analysis. Research shows that organizations using spreadsheets for consolidation spend up to 50% of their close time on manual work — time that could be better spent driving business insights.
IFS Group Consolidation brings all your financial data into a single, unified system. No more jumping between tools or reconciling disparate sources. With everything in one place, you gain a comprehensive view of your financial position and can easily drill down into the details.
Operating across borders means dealing with multiple currencies and accounting standards. IFS Group Consolidation automatically converts and translates financial data, ensuring consistency and accuracy in your consolidated reports. Whether you’re dealing with EUR, USD, or JPY, the system handles it all — eliminating manual FX calculations and reducing the risk of errors.
Intercompany transactions, ownership adjustments, and eliminations are some of the most tedious aspects of consolidation. IFS Group Consolidation automates these processes, freeing your team from manual work and allowing them to focus on higher-value activities. The result? Faster closes and fewer errors.
Different stakeholders require different perspectives on the data. IFS Group Consolidation lets you create tailored reports for auditors, leadership, and other teams, all from the same underlying data. This ensures consistency and eliminates the risk of discrepancies between reports.
Transparency is critical in financial reporting. IFS Group Consolidation provides a complete audit trail, allowing you to trace every number back to its source. This not only simplifies compliance but also gives CFOs and controllers the confidence that their reports are accurate and reliable.
Organizations that switch to IFS Group Consolidation typically see a 30 – 50% reduction in close times. By automating manual processes and eliminating spreadsheet errors, finance teams can shift their focus from data collection to strategic analysis. Whether you’re managing growth, navigating M&A, or simply looking to streamline your close process, IFS Group Consolidation delivers measurable results.
If you’re tired of closing in Excel or struggling with the complexities of multi-entity consolidation, it’s time to explore a better solution. IFS Group Consolidation is designed for organizations that need:
Every organization faces unique consolidation challenges. For some, it’s FX translations. For others, it’s intercompany matching or equity tracking. Whatever your pain point, IFS Group Consolidation can help. By automating the boring stuff, you can spend less time on spreadsheets and more time on what truly matters — driving your business forward.
If you’re ready to leave spreadsheet chaos behind and consolidate with confidence, reach out to our experts. We’ll show you how IFS Group Consolidation can transform your financial reporting process.
IFS Group Consolidation is a financial consolidation solution designed for organizations with multiple entities, currencies, or accounting systems. It automates intercompany transactions, currency conversions, and reporting, providing a unified view of financial data and reducing reliance on spreadsheets.
The system automatically converts and translates financial data across different currencies, ensuring consistency and accuracy in consolidated reports. This eliminates manual FX calculations and reduces errors.
Yes. IFS Group Consolidation automates intercompany eliminations and adjustments, ensuring transactions are accurately matched and reconciled without manual intervention.
IFS Group Consolidation reduces close times by 30 – 50% by automating repetitive tasks like data aggregation, currency conversion, and intercompany matching. It also provides a full audit trail, improving transparency and compliance.
Every number in IFS Group Consolidation can be traced back to its source, providing a complete audit trail. This ensures compliance and gives CFOs and controllers confidence in the accuracy of their financial reports.
Absolutely. The system is designed to accommodate dynamic organizational structures, including mergers and acquisitions (M&A) activity, multiple subsidiaries, and shifting ownership. It adapts to your needs without requiring manual reconfiguration.
IFS Group Consolidation allows you to create customized views for various stakeholders, including leadership and auditors, from a single data set. This ensures consistency and eliminates discrepancies between reports.