In most organizations the planification of Budgets, Forecasts, Sales, Resources Planification, or a variety of different scenarios are still being done around Excel, resulting in long term planification cycles, and possible inaccuracies.
A well defined planification is key for a business to react, and adapt to changing circumstances. Regulation, or competition requires changes in the company’s operations, and finances.
TechBI has extensive experience in implementing planification tools, and can guide your company in implementing such solutions successfully.
Another problem present in organizations formed by groups of companies, is how to carry out the financial consolidation process. The consolidated financial statements represent the financial results of the operations (profit and loss), financial situation (balance sheet), and cash flow (statement of cash flow) of an organization, and all of its subsidiaries, that operate legally as independent entities, but that want (wish) to have a centralized economic control.
TechBI can also guide your company in implementing projects of this kind. Implementing tools that allow you to consider typical aspects of the process of a financial consolidation are:
- Eliminating intercompany transactions ( sales, or cost of goods sold between companies of the same group, intercompanies’ account receivable or payable, and investments)
- Consolidated net income, after eliminating the transaction between companies belonging to the group.
- Minority external interest, when you don’t own 100% of a subsidiary, the proportion should be reflected in the balance sheet, income statement, and cash flow.
- And other business rules.