Host Analytics Consolidation is the financial consolidation application that is owned by Finance
FACT SHEET
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
ABSTRACT
FACT SHEET
2
TRUSTED SECURITY AND CONTROLS
Financial consolidation and reporting is a
mission-critical, often regulated, business
process that involves collecting and
consolidating highly sensitive financial information. Establishing and maintaining
internal controls over financial reporting is critical to avoid inadvertent disclosure
of sensitive financial information, and to successfully meet audit requirements. Host
Consolidation offers role-based security, workflow, audit logs and audit trails giving you confidence that Host Analytics is your single source of financial truth.
Role-based security and workflows support your consolidation process and
keeps the team in synch
To ensure effective internal controls and to prevent fraud and error, it is important
to segregate duties of staff involved in consolidation and financial reporting. Host Analytics offers role-based security at the 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
requirements. Host Consolidation includes
comprehensive audit logs that timestamp
all significant activity in the system for every user, enabling auditability of financial results. Logged activities include journal
entries, reclassifications, data submissions or changes, loading or running reports, opening
or viewing templates, changes to security
permissions, modifications to workflow processes, and any action taken as part of a
workflow such as approval or rejection.
Single source of financial truth gives you accuracy, consistency, and confidence
Host Consolidation captures financial results at a consolidated level and for all entities in
the organization. Using Host Consolidation,
finance, accounting, and business teams can use these actuals in financial reports, budgets, plans, forecasts and models either at the
entity level or the group level. Because Host
Analytics is the single source of truth, you can
be confident that financial results are based on the same trusted data.
FACT SHEET
3
RAPID DEPLOYMEN AND CONFIGURATION
To minimize disruption and ensure
project success, it is important that new
financial systems are deployed quickly. Host Consolidation can be deployed within
8-12 weeks on average. Because Host
Consolidation is cloud-based, there is no
dependency on IT. Prebuilt consolidation
functionality and point-and-click setup
avoid dedicating time and money to costly
customizations.
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
deploys quickly and easily
Host Consolidation includes pre-built
consolidation functionality for currency
conversion and reporting, currency
translation adjustment calculations and
posting, journal entries, reclassifications, intercompany eliminations, partial ownership,
org by period, and alternate hierarchies. It
supports multiple sets of books for IFRS, US
GAAP, Tax, and management reporting.
Point-and-click setup makes Finance
self-sufficient
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 without
the need for IT or programming skills. No
scripting or custom programming is needed
to configure Host Consolidation, freeing accounting teams from dependence on IT
or consultants, making them more agile and
reactive to changes in organization, strategy,
regulations, and accounting standards.
FLEXIBLE REPORTING AND ANALYSIS
Reporting is one of the key needs of finance and accounting teams. Management reports
help business leaders run organizations.
Financial and regulatory reports inform
investors and regulatory agencies. Host
Analytics delivers a common chart of
accounts for consistent global reporting,
a robust library of reporting formats and
delivery options that meet any financial or management reporting need, as well
FACT SHEET
4
as consolidation activity reporting so
accountants have full transparency into the
financial results, all based on a single source of truth.
One common chart of accounts enables
consistent and trusted global reporting
across the entire organization
Entities within your organization may run a
diverse range of ERP and accounting systems
and have a wide variation in their chart of
accounts. Host Consolidation automatically
maps financial data from all entities into a common chart of accounts for consistent and
trusted global reporting across the entire
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.
Consolidation activity reporting provides
transparency into financial adjustments and final results
As the consolidation and financial reporting process unfolds, accountants need to see
the lineage of their financial data, tracking changes from starting balances through
journal entries, intercompany eliminations,
and other changes through to ending
balance. With Host Analytics, consolidation
activity is available as a reporting dimension
so that accountants can instantly slice their
financial data across any consolidation activity enabling them to see the full story behind any
number.
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