The problem with using multiple ERP systems in financial consolidation
Using multiple ERP systems and local accounts presents a significant obstacle to financial consolidation, a common issue faced by group finance professionals.
It involves merging information from various sources and ensuring the data is accurate and consistent.
This challenge is so pervasive that even a basic spreadsheet consolidation setup may struggle to handle it.
So, what can we do to make the task less complex and reduce the risk of errors and data inconsistencies?
Ultimately, a combination of technology and process improvements can help organizations overcome the challenges of multiple ERP systems and local accounts in financial consolidation.
In this 30-minute session with expert Jette Thelin, you will learn how to consolidate data across multiple ERPs.
- The trouble with local chart of Accounts and different ERP systems
- Streamlining of data collection
- Handling dimensions in a consolidation
- Implementing standardized accounting practices
- Mapping of companies
- Handling Group Data
Jette Thelin has extensive experience in helping corporate groups transition to fully automated cloud consolidation to optimize their finance teams' value in the business.