Topic: General Posts

Subject: Financial Consolidation/Reporting applications
Jay Bray
Member: 2005
Submitted on 07-27-17 2:31 pm
Our company, privately held, is currently using Hyperion Enterprise to consolidate the financials for seven divisions; that are in the US, Canada, UK, China and India. This is an older version of Hyperion and so we are beginning the evaluation process of options to upgrade this legacy system. Some additional summary comments to help give context to the question and possibly your responses:
• Company would be considered small organization in terms of total revenue
• Multiple currencies used
All divisions report in their local currency; with higher level entities reported in common USD
• All divisions operate on a common Infor platform for their financial system
• Enterprise is used primarily to consolidate the financials from all divisions, perform intercompany reconciliations and eliminations and prepare a full set of monthly financial statements (B/S, P&L, Cash flow, KPI’s)
• Standard templates have been created in Retrieve and are updated monthly; these are the financial statements used for each business’s use
These statements are also used to coordinate the annual financial audit at all locations and from a corporate perspective; in addition to any external reporting that is required
• Enterprise/Retrieve are currently only utilized at the corporate office for the consolidation process; with Retrieve being used for many ad-hoc reports.
However, I would like to consider rolling the new system out to the Division Controllers; enabling them with this tool for their internal financial reporting needs, sharing of information, etc.

I would welcome your comments, both pro & con, on current consolidation applications being used, applications being considered, issues to consider in the selection process and issues to consider in the migration.

You are welcome to reply to through The FENG Forum; or you can reach me at, 317-849-9555 ext 4247.

Jay Bray
VP of Accounting/Finance | Deflecto, LLC
7035 E. 86th Street | Indianapolis, IN, USA 46250
(w) 317-849-9555, ext 4247 | (m) 317-319-2861
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