INTEGRATED CONSOLIDATIONAPPLICATION FOR ENTERPRISES
The office of the CFO now gets complete control of all internal and external reporting with a simple yet powerful enterprise software that can function as a layer on top of all core transaction and accounting systems. FinX™ enables end to end financial reporting by extracting data from source ERP systems, multiple databases or from spreadsheets.
IRIS FinX™ FEATURES
WORKS WITH GRANULAR DATA
Inputs for Financial consolidation can be as granular as at Cost Account, Trial Balance or BS-P&L level. iFinx can be seamlessly integrated with an ERP or custom accounting product.
Saves reconciliation time by streamlining inter-company elimination transactions and identifying errors, without user intervention.
AUTOMATED GOODWILL CALCULATION
Automatically calculates Goodwill and Minority Interest based on the ownership percentage in each company.
FOREIGN CURRENCY TRANSLATION
Performs complex foreign currency translations for multiple currencies simultaneously, to effectively record translation reserve, and analyze global information.
ALIGNMENT OF DIVERSE POLICIES
Facilitates passing journal entries to streamline differences arising from disparate accounting standards and policies, and different reporting periods.
IRIS Finx TM BENEFITS
- Streamlines Financial Consolidation, along with generation of standalone financial statements and XBRL output for internal and regulatory reporting.
- Improved visibility with detailed audit trails and workflow control in financial consolidation process.
- Automation of manual and time-consuming processes.
- Flexibility to perform multi-level consolidation and ‘What If Analysis’, while consolidating.
- Compliant with evolving Indian accounting standards and regulations.
- Finx upgrades to IFRS compliant financial consolidation in the upcoming version