ORYX Consolidation is our solution that helps reduce your operating costs and provides a single view of the business when managing multiple geographies.
With the increasing pressure of global businesses, the demands on Group Finance teams have changed dramatically.
That’s because Group Finance plays a crucial role in every corporate or multi-national organisation, but there are precious few solutions aimed at reducing their workload or to help them become more efficient.
Introducing ORYX Consolidation, the solution that unifies all of your general ledgers, for multiple entities, multiple currencies and multiple reporting standards together with your non-financial information, whenever you need it.
STREAMLINE YOUR BUSINESS
ORYX Consolidation allows the automation of three key processes – accounting, reporting and consolidations. It collects data from your ERP system(s), and then works with information from ORYX Close, ORYX Plan and other tools and spreadsheets.
The core of ORYX Consolidation is the consolidation engine. It’s built around flexible business processes and rules, and is designed to:
- Perform aggregations
- Effect eliminations
- Generate consolidation journals
- Create final consolidation reports and outputs
- Provide a single view of Group financials
There are many individual short cuts, automations and labour-saving features built in, all in all saving you time and money.
It will help you to improve staff morale, control overtime costs potential and improve accuracy.
All in all, you can take out the stress associated with meeting the deadlines of this vital time-critical function, whilst increasing accuracy and business value.
SINGLE VIEW OF THE BUSINESS
ORYX Consolidation has been built so that it can integrate into your existing ERP and planning systems. That way, you get a single set of consolidated views of the Group business, at any level required.
This provides many benefits including standardisation and consistency of information, reporting and presentation. It also means Group Management can now have complete visibility of the whole global business, for greater insight and control.
MULTI-CURRENCY, THE WAY YOU NEED IT
ORYX Consolidation maps to your FX requirements by managing up to three currency types:
- Original currency (in the currency where the transaction occurred)
- Local currency (in the home currency for the Region, for example)
- Reporting currency (your key reference currency in which you report your Group accounts)
It also adapts to your policy on plan versus actual rates, and offers both manual and/or automated FX adjustments. So however large the FX headache, ORYX Consolidation has the cure.
SPEED UP THE CONSOLIDATION PROCESS
ORYX Consolidation takes care of the challenging areas of the Group Finance function by automating a very manual set of processes.
The result is substantially reduced effort and a shorter time frame to complete the work. Current clients report reduction in effort of up to 60% and time saving of up to 30%.
AGILITY IS BUILT IN
ORYX Consolidation is built on a flexible business process platform that’s incredibly flexible. It means you can:
- Allow for regional variations and distinct rules
- Make rule-based adjustments, group on-tops and eliminations
EXCEPTION TRACKING AND GOVERNANCE
ORYX Consolidation includes a workflow that simplifies the logging, tracking and management approval of exceptions and changes, with all issues, actions and sign-offs being recorded.
Signatories can either approve workflows within the regular cycle, or make comments for further amendment, saving time on your approval processes.
ORYX Consolidation is leading the way in consolidation solutions. Challenge us today. Ask us to provide a free report on your existing Group Finance processes to see if we can deliver improved flexibility and reliability, as required by your business.