If you’ve ever tried to consolidate financials from five different companies, you know the pain. One CFO told me she spent her vacations manually mapping spreadsheets. ERP Consulting automated the entire consolidation process.
The Mapping Nightmare
Each company had a different Chart of Accounts. Company A called it ‘Revenue’, Company B called it ‘Sales Income’. We had to standardize this at the source, not in a spreadsheet after the fact.
- Create a master Chart of Accounts.
- Map each subsidiary’s accounts to the master.
- Set up automated eliminations for intercompany transactions.
The 10-Day Close
Their goal was a 10-day close for a consolidated view. They hit it in the second month. ERP Consulting gave them back their weekends.
More importantly, the CEO could finally see the true profitability of each business unit.