Business cases

Consolidation, management reporting, intercompany reconciliation: discover what our clients say

Business case Docler

Business cases


Consolidation with Sigma Conso

Docler has chosen Sigma Conso for their consolidation, management reporting and for the reconciliation of intercompany accounts. Discover the business case below.

➡️ Download here the full business case

Docler: key information

Return on investment – in a couple of words

The advantages of the implementation of Sigma Conso for the finance department of Docler are:

The situation

The group Docler has its head office in Luxembourg since 2013. Initially, the consolidation was being outsourced to an external company. While the group was growing and the consolidation became more complex, the externalization had come to its limits: closing almost took one year, the audit was difficult and this resulted in high costs and a lot of pressure on the different teams.

The complexity of the consolidation at Docler relies on a large volume of inter-company transactions (more or less 10.000 transactions per quarter), each of the 80 companies having inter-company relationships with all the others. Above that, there is a lot of data in the consolidation (transactions, products, entities, …).

The decision to internalize the consolidation and reporting of the group had been made in 2017. At that time, a request for proposal was launched and Docler decided to implement Sigma Conso for their consolidation, management reporting and to automate the reconciliation of the intercompany accounts.

The results

The group Docler has been able to move from a yearly closing to a quarterly closing. The quarterly closing is subject to an analysis in order to identify the most important events of that period.

Above that, two consolidations are being carried out in parallel in the application: a semestrial consolidation in LuxGaap and a monthly sub-consolidation in IFRS.

The publication of the annual accounts is automated with Sigma Conso Disclosure.

Specific reports were created to meet the audit requirements. All operations are traceable and the auditors have full access to all the information they need. This way, the audit is quicker and less expensive.

The software of Sigma Conso gives a lot of autonomy to its users. The finance team at Docler has been able to create the necessary reports for the consolidation fully independently. The interface is intuitive and allows the employees to create their own reports without coding knowledge or having to appeal to external consultants.

 

Simon Stein, Senior Technical Accounting Expert at Docler explains:

“The software is of high performance and allows to carry out consolidations very quickly. One of the objectives for this year is to implement a monthly consolidation, which is done in 2 or 3 days, to be able to set up KPIs for certain entities of the group. Because of the autonomy we have, we can adjust the parameter settings according to the evolution of the group and are able to answer to new requests of the management team. Sigma Conso perfectly meets the needs of an international company in full growth!”

Do you want to improve your consolidation and reporting process? Contact us today and we’ll take a look together at how you can reach your goals!

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