Fincorex® is a modern financial consolidation tool: from data collection to clear group reports.
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Fincorex® brings the data of all group companies together into one consistent picture. You get the consolidated balance sheet, income statement, cash flows, statement of changes in equity and notes – ready for reporting and for assessing the position of the whole group.
Fincorex® combines the budgets and forecasts of all companies into one group plan. Built-in intercompany eliminations and currency translation speed up preparing consolidated results, balance sheet and cash flows – without manual adjustments.
The system prepares group statements according to the standards adopted in your organization. It combines company data, eliminates intercompany balances and includes adjustments, so statutory reports are produced faster and with less risk of error.
Budgets, forecasts and management reports over any horizon – from a month to a strategic plan. You analyze data by company and segment, and see variances immediately on consolidated figures.
The system finds and eliminates intercompany transactions on its own and translates data into the group currency, calculating FX differences. Everything works on the fly, and the change history lets you trace the effect of every elimination.
You enter and track consolidation adjustments for every statement and at every stage. Versioning and change history provide full transparency for the board and auditors.
“Based on our long-standing cooperation with the creators of Fincorex®, we decided to implement this solution.”
We use it mainly for reporting and planning the profit and loss statement (P&L), balance sheet and cash flows for all entities in our group.
It works quickly and efficiently in the areas that matter most to us: cash flow calculations, currency translation, and consolidation of budget and forecast data. It is a key system for reporting our organization’s results.
Being able to connect to the system from Power BI is also extremely important to us, and the Fincorex® Power BI Connector makes that possible.
Long-term cooperation and trust matter!
The consolidated balance sheet, income statement, cash flows, statement of changes in equity and notes – ready for reporting and for assessing the position of the whole group.
The system finds and eliminates intercompany transactions on its own, translates data into the group currency and calculates FX differences. The change history lets you trace the effect of every elimination.
Yes. Reporting is multi-currency, with automatic translation of rates and ratios into the group currency.
Yes. In management consolidation, the budgets and forecasts of all companies are combined into one group plan, with intercompany eliminations, currency translation and scenario versioning.
You enter and track adjustments for every statement and at every stage of consolidation. Versioning and change history provide full transparency for the board and auditors.
It depends on the number of companies and the scope of integration. A comprehensive financial consolidation implementation usually takes 2 to 4 months.
As a proof of concept, we will recreate your reporting or planning model in Fincorex® and show it to you at our next meeting.
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