sarahjames
I am what you call a Personal finance expert.I research and come across the best financial planning solution that reduces operating costs and risks within the Finance function. As accountants myself , I understand the challenges of financial planning and analysis.I also provide other useful and trustworthy resources for finding the best financial partners for you.
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If so you’ll know how much effort goes into Financial Consolidation… and how much the picture can change from one quarter or year end to another. You may have different systems used by different parts of your organisation, you may have different regulatory and compliance regimes. There is the challenge of multiple currencies and exchange rates. There may be different Charts of Accounts, Balance Sheets and other underlying data. Getting all these dimensions into line to allow consolidation can be a huge task. What if you could automate your whole Consolidation process? Imagine you’re a gymnast, striving to deliver new and better routines. A single view of Group financials With one single interface, Group Management gain visibility of the whole global business, allowing them to spend more time on analysing the data, and less on collating it. ORYX Expense Allocation For Insurance - Accountagility.
Expense Allocations that reduce costs How ORYX Expenses improved the expense allocations process and gave greater visibility and reporting to the business at a world leading Insurance company The company’s old expense allocation model comprised of multiple linked spreadsheets and required significant manual input.
It left the business struggling to control unapproved allocations, and without a way to reconcile back to the original entries. How did finance add control over its expense allocation process to provide better visibility and reporting for the business? Client Fact File Leading global insurance and reinsurance companyPart of a global group, with assets of $12 billion1,600 employees in almost 40 offices around the globeProviders of speciality insurance solutions Key Project Metrics Background The processing, categorisation and allocation of expenditure items was performed by using multiple linked spreadsheets.
The Project. FINANCIAL PLANNING AND FORECASTING - Accountagility. We understand the challenges faced when undertaking Financial Planning and forecasting; the integration of data from multiple sources and systems, the countless structural challenges, the complex numerical calculations, and the need to complete plans within stringent fixed deadlines.
We know that the success of your planning function largely depends on the speed at which you can create and analyse your plan information, and then adapt your business logic to meet fresh requirements and new initiatives. In corporate enterprises, the complexity is multiplied by the differences in regional requirements. You need a system that accommodates local variations within a single corporate financial planning and analysis strategy.
Cost Allocation Software Solutions. ORYX Cost Allocations is our add-on module to ORYX Close that reduces effort by up to 80%, and shortens time by up to 50% for the processing of expense allocations. We know businesses spend an inordinate amount of time manually processing, categorising and allocating expenditure. Financial Consolidation Software Solutions. 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. 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. There are many individual short cuts, automations and labour-saving features built in, all in all saving you time and money. Financial Close Solutions.
In a busy Finance function, the month end closing process is a recurring challenge. Many companies have multiple P&Ls, balance sheets and data sources, not to mention international structures that come with their own needs. Because of this, there never seems to be enough time to meet demanding deadlines, and that added pressure often affects accuracy. As if that is not enough, emerging regulatory requirements are making it even harder, with extra time being needed to create reports for compliance regimes such as Solvency II.
Finance staff have to deal with the heavy workload of manual adjustments, which adds complexity to the task of supporting all stakeholders. Then there are further processes for the Quarter End, Half Year and Year End, all adding to the workload. So what can a stretched Finance Department do to resolve this? Home - Accountagility. Financial Planning And Analysis Solutions. As accountants ourselves, we understand the challenges of financial planning and analysis. We also know that success of your planning and analysis is down to the speed at which you can create and analyse the plan information, and adapt.
In global business, planning and analysis is made even more difficult by the differences in regional requirements. It’s why you need a system that can adapt to local variations within a single global planning strategy. To do all of this manually is not only complicated but it also takes time. Lots of it.