The future of consolidation: Financial communication

The future of consolidation (6/7): Financial communication


Financial communication

By Allen White, Sigma Conso co-founder & Administrator

Whether for a press release, the creation of a document for the Board of Directors, the creation of an annual report or an exchange of financial data with external organisations, we have seen that these tasks still take up a disproportionate amount of time in the overall consolidation schedule.

There are reasons for this. We should note that:

In the long run, however, as a result of its position on the critical consolidation schedule path, financial communication in the broadest sense must be backed by easy-to-use functionality integrated in the consolidation software.

Significant improvements by consolidation software vendors are expected in this area in the short term.

Articles in the “Future of Consolidation” series:

  1. The structure of the data to consolidate and processing in consolidation
  2. The reconciliation of intercompany balances: is there hope?
  3. IFRS and local GAAP
  4. Statutory consolidation and reporting: unified consolidation
  5. Group structure
  6. Financial communication
  7. Impact of future technological changes on consolidation

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