Streamlined Legal Consolidation & Intercompany Disclosure Management
Overview:
A leading global enterprise faced challenges in streamlining their legal consolidation and intercompany disclosure management. The complexity of handling cross-border transactions and maintaining accuracy in financial reporting posed significant hurdles.
Challenges:
- Complex intercompany transactions across global entities leading to reporting inconsistencies.
- Time-consuming reconciliation and disclosure processes.
- Need for improved transparency and compliance with international accounting standards.
Solutions:
- Implementation of SAP FCCS to streamline the financial consolidation from S/4 HANA and legacy ERP systems.
- Custom development to update exchange rates and ownership percentages for dynamic reporting.
- Deployment of a robust intercompany workflow to handle multiple currencies and automate reconciliation tasks.
Results:
- Accelerated financial closing and reporting cycles.
- Enhanced intercompany transparency, facilitating real-time insight into global financial consolidations.
- Improved compliance with international financial reporting standards and reduced risk of errors.
Summary:
Diligent Global’s expertise in SAP solutions enabled the client to transform their legal consolidation and disclosure processes, resulting in a unified, transparent, and efficient system. This advancement has not only streamlined operations but also positioned the client for better compliance and decision-making.
Elevate your financial processes with Diligent Global’s innovative solutions. For expert guidance in legal consolidation and disclosure management, contact us at info@diligentglobal.com and discover the impact of optimized intercompany systems.
