Single Integrated Application to Do Both Consolidations and Monthly Reporting
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