Consolidated reporting : Sigma Conso announces six new clients in Belgium

Tuesday October 22nd, 2013

Brussels, 22 October 2013 – Six new clients have selected Sigma Conso to optimise their consolidated reporting: Imperbel (construction materials), Sitra (logistics), Fédérale Assurance (insurance), Asco Industries (aeronautics parts), TKS Ice-Watch (watches) and Autosécurité (vehicle inspections).

The Imperbel finance team was looking for a flexible, multi-currency consolidation software package that could be parameterised in-house. The group was using a software package supported from outside the country and ill-suited to local accounting standards. Imperbel selected Sigma Conso’s unified consolidation and reporting package following a study of the solutions available on the market. Mona Group Reporting will also be used with Intersentia’s First Pro solution to file consolidated accounts with the BNB. Consolidated account closing will be faster, less expensive and more reliable. Mona Insight will provide visualisation, analysis and sharing of the consolidated information created by Mona Group Reporting for decision-making purposes.

The Sitra Group was in the same situation. It needed to replace aging software with poor support. A comparison with the other software packages on the market made the case for Mona Group Reporting. The software will enable the Sitra Group to do a monthly consolidation reliably and autonomously and to direct the group using very detailed analytical reporting.

Fédérale Assurance were looking for a tool to improve the reliability of their consolidated reporting process. The finance team was impressed with the product’s analytical reporting capabilities and reassured by Sigma Conso’s many references in the insurance world. It decided to implement Mona Group Reporting in PaaS mode (Platform as a Service) by externalising the maintenance of the solution hosting platform for increased simplicity.

The Asco Industries group is deploying Mona Group Reporting for its consolidated reporting at both the holding and industrial group levels. Consolidation packages will be imported from several different accounting systems. The solution’s flexibility, its solid reputation in the marketplace and the team’s business-specific expertise were all decisive factors in our client’s choice.

The TKS Ice-Watch group is currently experiencing very strong growth. It was also looking for an expert business partner that could help it implement consolidated reporting. The group chose Sigma Conso, which will assist it in implementing consolidation using Mona Group Reporting.

The Autosécurité group is also in full growth mode. Sigma Conso will be helping the finance team implement the group’s statutory consolidation on Mona Group Reporting.

Dominique Galloy, Sigma Conso’s Managing Director, said about the new references that: “Although the Belgian market for consolidation software is mature, we are again having an exceptional year: many groups in Belgium want a modern, flexible and easy-to-maintain solution to replace expensive solutions that require the intervention of outside consultants and suffer from inadequate support.

Mona Group Reporting adapts to the needs of a range of clients of varying sizes and with different organisations and financial processes (statutory consolidation, forecast reporting, budgets, etc.). The fact that the solution can be fully parameterised by users makes it an appealing option for growing groups (acquisition of new entities, addition of new currencies, etc.) that don’t have to depend on outside consultants to ensure the evolution of their system.

We’re confident that our new customers will quickly benefit from the new processes they are currently implementing. We would like to welcome them to the Mona Group Reporting user community.”