Single Integrated Application to Do Both Consolidations and Monthly Reporting

La Capitale Main Image

Business Issues

  • Excel-based consolidation process
  • Labor-intensive data collection and inefficient consolidation process
  • Not enough time for data analysis
  • Data integrity issues (manual input, Excel formulas errors)
  • Decision was made to replace Longview by Hyperion in 2009. That decision has been reversed in 2013 due to issues with Hyperion.

Longview Software and Service Solutions

  • Consolidation
  • Key Consolidation Processes:
    • Data structures mirrors PeopleSoft for better integration
    • Proportionate consolidation
    • IFRS
    • Intercompany eliminations
    • Recurring and calculated journal entries

Solution/Benefits

  • Improved data integrity and greater level of detail
  • Centralized repository for all financial data—“one version of truth”
  • More time for analysis vs manual processes
  • Improved consolidation process