By: Board Asia Pacific | 11 November 2021
Consolidation is a foundational element of any corporate performance management solution today. Improved management reporting, for example, which is cited as a primary driver in two-thirds of all CPM/BPM projects, relies heavily on consolidation functionality. Larger and medium-sized enterprises that seek to improve their financial consolidation are usually aiming to trade up from legacy systems, separate and weakly integrated applications, and/or Excel processes.
It’s common that a specific pain point drives Finance to consider upgrading financial consolidation, and then a larger vision of how to leverage the upgrade takes shape. We encourage companies to define the vision clearly and extend it as far as practical, because this tends to bring the most extensive benefits.
This whitepaper recommends a set of ten key criteria for selecting a consolidation solution and gives real-life examples of several major companies that “took consolidation to the next level”.