To navigate today's volatile economic environment, you need fast access to reliable financial data. But that can be challenging in a world of multiple currencies, mergers and acquisitions, and ever-increasing accounting standards and regulations, such as International Financial Reporting Standards (IFRS) and the eXtended Business Reporting Language (XBRL) electronic filing format.

The SAP BusinessObjects Financial Consolidation application can deliver faster, more reliable consolidations – allowing your finance organization to move beyond mere reporting into analysis of the why and how of your financial events.

SAP BusinessObjects Financial Consolidation includes comprehensive features and functions that support:

• Faster processing – Patented database processing technology runs consolidations faster without sacrificing audit trails.
• Process automation – You can leverage a standard user interface and intuitive wizards to set up consolidation calculations such as currency translation adjustments, minority interest and equity calculations, intercompany reconciliations, and automatic cash flows.
• Agility – Take advantage of multiple scenarios without rebuilding or destroying history – allowing multiple alternate consolidation views, differing charts of accounts and numerous analysis dimensions.
• Compliance and enhanced reporting – Get a complete audit trail and integrated office client.
• Source systems integration – Take advantage of extensive connectivity in both SAP and non-SAP environments and work with any consolidation application; get full audit trail and drill back with SAP sources leveraging SAP BusinessObjects Financial Information Management.
• Data validation – Leverage control functionality to ensure incoming information comes to you on time and in a format you can use – and that the data is consistent, complete, useful, approved, and auditable.
• Starter kits – The software includes preconfigured content based on best practices and compliant with IFRS and Generally Accepted Accounting Principles (GAAP).
• Business intelligence – The software integrates with SAP BusinessObjects business intelligence (BI) solutions and enables you to send consolidated results to SAP NetWeaver Business Warehouse.

SAP BusinessObjects Financial Consolidation can provide you with the speed, power, agility, and confidence to close your books quickly. With this application, your organization gains the following benefits:

• Speed for a faster close – Recover critical time and cost from your closing and management reporting cycles – without sacrificing any of the controls or auditing needed for today's global compliance environment.
• Power and agility – The application provides the control your organization needs to deliver reliable data to stakeholders, resulting in better-informed decisions and the ability to adapt quickly to change; and it's flexible, allowing divisions and business units to run operations in a way that makes business sense.
• Confidence and corporate compliance – In addition to giving corporate finance full process control, the application provides data transparency and traceability to enable reliable results.
• Reduce costs and strengthen investor relations – Streamlining and automating provides more time for value-added analysis, improved control systems and quality, and faster reporting and statutory compliance.