IBM Cognos Controller
Our IBM Cognos Controller product offers a robust financial consolidation and reporting solution designed for organisations managing complex financial structures, including multiple subsidiaries and joint ventures across diverse ERP systems, charts of accounts, and currencies. This solution meets the needs of analysts and managers who require accurate and timely financial performance data to enhance decision-making and financial reporting efficiency.
Customer Pain Points
Reliance on Spreadsheets
Manual Work and Low Automation
Late Adjustments for Intercompany Transactions
Evolving Reporting Requirements
Diverse Accounting Regulations
Complexity of ERP Systems and Structures
Key Features
Data Collection
IBM Cognos Controller handles all the process and control steps necessary to gather financial information from multiple sources and systems. Both quantitative and qualitative data can be entered automatically or manually via forms and templates.
Reporting Capabilities
Financial data can be collected and presented in multiple reporting and transaction currencies. Individual data entry forms and templates are easy to create and manage. Data can be imported and entered via Excel forms or a web browser.
Audit Trail for Data
IBM Cognos Controller enables administrators to configure, track and audit data flow within the consolidation process and maintains a clear audit trail.
Validation
IBM Cognos Controller enables thorough validation processes to reduce lead times and ensure data consistency.
Allocations
Cognos Controller facilitates value allocations based on user-defined ratios to specific targets, including between companies, accounts, or extended business dimensions.
Inter-Company Eliminations
IBM Cognos Controller streamlines intercompany transactions by allowing input at the entity level and providing online visibility of counterparties for immediate discrepancy resolution.
Capital Eliminations
IBM Cognos Controller supports all current methods of capital consolidation and can perform staged eliminations in legal or management structures.
Advanced Formula Calculations
The advanced formula calculations capability, which calculates and stores financial and nonfinancial metrics, is part of the account and rules definition and is integrated into the consolidation process.
User-Defined Business Rules
Users can structure, control, and execute consolidation rules for customised, repeatable processes
Currency Conversion
IBM Cognos Controller supports all currency conversion methods at any level. It translates data in a foreign currency into the group default currency.
Customisation Reporting of Data for Regulatory Compliance in Specific Region or Country
Each organisation has its unique chart of accounts, management and legal structures, legal and regulatory requirements that need to be met and a unique combination of source systems for both financial and non-financial data.
Benefits
Enhanced Flexibility
Accelerated Automation
Supports Extended Financial Close
Ensure Regulatory Compliance
Single Common Chart of Accounts
IBM Cognos Controller ensures seamless adherence to statutory, analyst, and management reporting obligations, empowering you to easily meet regulatory demands. This product allows you to gain efficiency in your financial close and consolidation processes while effortlessly navigating intricate global and local accounting compliance standards.
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