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Host Financial Consolidations

Visibility and Structure Drives Quick and Controlled Consolidations

Pitney Bowes Case StudyWith 4 general ledgers and 8 charts of accounts, Pitney Bowes has reduced their financial close process workload by 50% using Host Consolidator.

As you and Pitney Bowes both know, business velocity, a greater international presence, and ever increasing reporting complexities all add up to a greater risk that your numbers will not accurately reflect the state of your business, and results in costlier financial close cycles.

Systemizing this process with an application designed to control and manage the velocity of business provides for:

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  • Quicker financial close result in greater accuracy.
  • Ability to see who’s involved in the process and where the process is at.
  • Control over the potentially lethal combination of velocity and complexity.

Quicker financial close result in greater accuracy and greater cost reduction. Better accuracy comes from being able to start later in the time period, thus allowing for more information to be included, and, because deadlines really don’t move, you don’t have to pile on costly and error prone last minute resources to support the statutory financial consolidation.

The ability to see who’s involved in the process, where it is going, and when it will be completed, combined with the structure to contain and direct the outcome, is paramount when trying to make your numbers and make your date.

Visibility and structure can control the potentially lethal combination of velocity and complexity. Cutting the financial close cycle time only adds to the accuracy of your statements, and to your bottom line.

Key Features & Benefits

Simplicity = Adoption = Alignment
Simple Design Insures Everyone is Strategically Aligned
Data Integration. Links the different general ledgers from the different operating divisions into Host's financial consolidation software.  Data Mapping converts the disparate operational chart of accounts to a common "corporate" chart of accounts while maintaining a "line of site" between the operational accounts and their roll up to the corporate accounts.
Input Templates. Today's decisions are not just based on financial results; they are based on other leading statistical indicators.  Host Consolidator leverages the flexibility of Host Budget templates for collecting non-financial information as part of the monthly financial closing process.  Examples of additional statistical information include:  production volumes, head count, customer service rating, cycle times and flash values.
Process Workflow. Supports the status and submission of the individual division's financial information.  The Consolidation Administrator has visibility to the status of the consolidation of all operating divisions including who has completed their part of the consolidation, who has not started their part of the consolidation and which tasks have to be completed.

On-Demand Multi-Tenant SaaS Means No Software to Install or Maintain
Implementation Timeframe. Deploy only one application to everyone. You can be up-and-running in record time.
Upgrade Frequency. Multiple transparent upgrades are released each year so everyone receives the upgraded application simultaneously and start using the new features.
Configuration Not Customization. Host Consolidator is configured using a flexible OLAP database to fit your business.  By configuring the OLAP hierarchy you avoiding the old, rigid, risky, and expensive software development methods. This results in a low-cost, low-maintenance application with behavior that adapts as your business evolves.
All for One Integration. With Host Consolidator all the actual results are available for financial reporting and analysis, including comparing to the budget/forecast in Host Budget and reporting as key metrics in Host Scorecard.

Control + Flexibility = Faster, More Detailed Financial Consolidation
Innovation Leads to Consistent and a Reliable Financial Consolidation
Business Rules Not Cryptic Scripts support complex consolidation process.  To support the complexities of multi-national financial consolidation in a straight forward manner, Host Consolidator is built based on a series of Organization Rules, Currency Conversion Rules, Allocation Rules and Consolidation Rules.
Organization Rules manage the complexities of minority interest calculations, subsidiaries on multiple fiscal years, complex equity ownership, multi-level elimination journal entries and multiple accounting methods.
Currency Conversion Rules manage currency conversion based on FASB 8, 52, and 95, including the temporal method of currency conversion as required for re-measurement or hyperinflationary environments.
Allocation Rules allow for the configuration of multi-level allocations across divisions and departments.
Consolidation Rules manage the sequence and processing of subsidiaries in the financial consolidation process.

Visibility Provides Confidence the Correct Inputs Are Coming from the Right People
Process Visibility. See who has made changes and when they were made. A graphical submission status screen shows you who is working on the budget in addition to the current stage of the individual budget processes.
Process Security. Enforce what data can be changed and by whom. Create security rules for specific users as well as budget/forecast locking.
Ad-hoc Queries. Allow the user to drill down from the consolidated ledger to the detail operational G/L detail and view the transactions in both the consolidated chart of accounts and in the operational chart of accounts.

Flexibility Means No Wasted Time Making Your Business Conform to the System

Sophisticated Financial Reporting leverages the flexibility in presentation and calculations of Excel while mitigating the risks systemizing the process.  Financial Reports are defined in terms of Row Sets and Columns Sets as reusable objects.  A system with 30 row set definitions and 30 column set definitions can provide 900 combinations of reports.
Flexible OLAP architecture allows you to configure the system based on your dimensionality and to the level you require for your board.
Start anywhere in the CPM cycle. Decide to implement Host Consolidator before or after other Corporate Performance Management functions. You are not locked into a specific process.

The statutory consolidation process is the cornerstone for measuring against the plan. Host Consolidator is an integrated statutory financial consolidation application that is tightly coupled with the other Host CPM Suite applications to provide you a 360 degree view of both the past and the future.  Host Consolidator provides you with the confidence and insight that comes from an integrated system that is powerful and simple.

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