Financial Closing for Large Companies involves complex, reiterative processes, of which consolidation is a crucial component. An automated TRAC (Timely, Reliable, Accurate, and Complete) system integration is essential to ensure a smooth closing cycle. Triniti helps customers automate and streamline their closing cycle using the Financial Consolidation Simulator.
Typical Close Cycle
Accountants babysit the following processes many times a day during the close cycle, typically lasting 20 days
- Prepare, Review, Approve, and Post Journal Entries
- Run and Review Revaluations, Translations, Eliminations, and Allocations in General Ledger
- Run Standard Consolidation
- Prepare and Publish Financial Statements and Reports
In addition to this cumbersome effort, accountants review each consolidation and rerun consolidations' sub-processes when required.
Finance Consolidation Simulator (FCS)
FCS is a simple and powerful simulation tool that helps accountants generate multiple consolidation forecasts (both periodic and on-demand). FCS uses Oracle standard consolidation rules to create the ledger snapshot and generates financial statements and reports.
FCS Benefits
- Be Up and Running in No Time
- No additional Infrastructure
- Increased Availability of Consolidated Balances to C-Suite Professionals
- Faster Close Cycles with Less Effort and Improved System Performance
- TRAC(Timely, Reliable, Accurate, Complete) Consolidation
- Reduced Risk of Duplicate/Missing sub-processes
- Improves and Builds Significant Credibility for Audits
- Drives consolidation efficiencies and reduces human errors by automating the consolidation and reporting process end-to-end
Features
- User Friendly control Center to schedule, sequence, and monitor End to End Close Process
- Upgradeable Finance Consolidation and Close Framework to accommodate Custom requirements
- Configurable Closing Calendar based on the Fiscal Calendar
- Supports Complex Consolidation for User Intuitive Journal Reclassification
- Supports Attribute Configuration and Translation for all Chart of Accounts segments
- Supports Alert Configuration and Management
- SOX Compliant Audit Trail
- Consolidation Snapshots Comparisons
- Easy & Quick integration with External Reporting Tools
