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Host Analytics Consolidation Is the Financial Consolidation Application That Is Owned by Finance

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Host Analytics Consolidation Is the Financial Consolidation Application That Is Owned by Finance FACT SHEET Host Analytics Consolidation is the financial consolidation application that is owned by Finance ABSTRACT Legacy consolidation systems have required extensive scripting and programming to implement even the most common consolidation processes, resulting in hard to maintain code, expensive dependencies on IT or external consultants, and reduced agility. In today’s constantly changing business environment, it is critical that the accounting team is able to make all required functional, administrative, and setup changes quickly and easily, and without the need for IT or programming skills. That’s why you need Host Analytics Consolidation, the financial consolidation application that is owned by Finance. No scripting or custom programming is needed to configure Host Consolidation. Host Consolidation delivers: } Trusted security and controls } Rapid deployment and configuration } Flexible reporting and analysis FACT SHEET TRUSTED SECURITY requirements. Host Consolidation includes AND CONTROLS comprehensive audit logs that timestamp Financial consolidation and reporting is a all significant activity in the system for mission-critical, often regulated, business every user, enabling auditability of financial process that involves collecting and results. Logged activities include journal consolidating highly sensitive financial entries, reclassifications, data submissions or information. Establishing and maintaining changes, loading or running reports, opening internal controls over financial reporting or viewing templates, changes to security is critical to avoid inadvertent disclosure permissions, modifications to workflow of sensitive financial information, and to processes, and any action taken as part of a successfully meet audit requirements. Host workflow such as approval or rejection. Consolidation offers role-based security, workflow, audit logs and audit trails giving you Single source of financial truth gives you confidence that Host Analytics is your single accuracy, consistency, and confidence source of financial truth. Host Consolidation captures financial results at a consolidated level and for all entities in Role-based security and workflows the organization. Using Host Consolidation, support your consolidation process and finance, accounting, and business teams can keeps the team in synch use these actuals in financial reports, budgets, To ensure effective internal controls and plans, forecasts and models either at the to prevent fraud and error, it is important entity level or the group level. Because Host to segregate duties of staff involved in Analytics is the single source of truth, you can consolidation and financial reporting. Host be confident that financial results are based Analytics offers role-based security at the on the same trusted data. entity, process, and data level. Accountants in a subsidiary company could be restricted to data for that subsidiary, or topside journal entries could be restricted to specific corporate accountants. Workflows ensure that only authorized individuals submit, approve or reject submissions. Security and workflow settings can be documented to meet audit requirements. Audit logs and audit trails provide control and accountability in the close process Audit trails ensure accountability, prevent fraud, and help to meet audit challenges and 2 FACT SHEET RAPID DEPLOYMEN Point-and-click setup makes Finance AND CONFIGURATION self-sufficient To minimize disruption and ensure In today’s constantly changing business project success, it is important that new environment, it is critical that the accounting financial systems are deployed quickly. team is able to make all required functional, Host Consolidation can be deployed within administrative and setup changes without 8-12 weeks on average. Because Host the need for IT or programming skills. No Consolidation is cloud-based, there is no scripting or custom programming is needed dependency on IT. Prebuilt consolidation to configure Host Consolidation, freeing functionality and point-and-click setup accounting teams from dependence on IT avoid dedicating time and money to costly or consultants, making them more agile and customizations. reactive to changes in organization, strategy, regulations, and accounting standards. Cloud deployment frees finance from IT dependency and overhead while ensuring that all users benefit from the latest innovations Host Consolidation is a cloud-based application. This means that there is no software to install or hardware to purchase or manage, reducing dependency on limited IT resources. All Host customers are seamlessly and automatically updated to the latest version, benefiting from the most recent innovations and enhancements. Prebuilt consolidation functionality FLEXIBLE REPORTING deploys quickly and easily AND ANALYSIS Host Consolidation includes pre-built Reporting is one of the key needs of finance consolidation functionality for currency and accounting teams. Management reports conversion and reporting, currency help business leaders run organizations. translation adjustment calculations and Financial and regulatory reports inform posting, journal entries, reclassifications, investors and regulatory agencies. Host intercompany eliminations, partial ownership, Analytics delivers a common chart of org by period, and alternate hierarchies. It accounts for consistent global reporting, supports multiple sets of books for IFRS, US a robust library of reporting formats and GAAP, Tax, and management reporting. delivery options that meet any financial or management reporting need, as well 3 FACT SHEET as consolidation activity reporting so Consolidation activity reporting provides accountants have full transparency into the transparency into financial adjustments financial results, all based on a single source and final results of truth. As the consolidation and financial reporting process unfolds, accountants need to see One common chart of accounts enables the lineage of their financial data, tracking consistent and trusted global reporting changes from starting balances through across the entire organization journal entries, intercompany eliminations, Entities within your organization may run a and other changes through to ending diverse range of ERP and accounting systems balance. With Host Analytics, consolidation and have a wide variation in their chart of activity is available as a reporting dimension accounts. Host Consolidation automatically so that accountants can instantly slice their maps financial data from all entities into a financial data across any consolidation activity common chart of accounts for consistent and enabling them to see the full story behind any trusted global reporting across the entire number. organization. Robust library of reporting formats and delivery options meets any financial or management reporting need Accounting teams need a range of reporting options from highly-formatted financial reports to ad hoc reporting and analysis. Reports often need to be sliced by entity, department, and cost center and distributed automatically to internal and external stakeholders. Host Consolidation offers highly formatted template-based reports, free-form ad hoc reporting and analysis, and reporting embedded in Microsoft Office documents. Standard financial reports like income statements, balance sheets, and cash flow statements can be created quickly and easily. Reports can be scheduled for automatic, secure distribution. In all cases, reports are generated from a single source of truth and ensure that sensitive information is always protected. 4.
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