Consolidation software – a key to smoother and faster closing

As an enterprise evolves through acquisitions and joint ventures, it also has to come to grips with significant complexities associated with the associated financial consolidation and reporting. Organizations must deal with multiple currencies, disparate accounting systems, various accounting standards, and a host of reporting and compliance regulations.

Using the right consolidation software is one of the key components to achieving a faster close, along with good execution of a well-designed process and managing the data component.

IRIS brings together its expertise in software development, in-depth understanding of financial and business information, and regulatory reporting requirements to present today’s CFO with a reporting and transformation solution that is agnostic to the accounting package used in various divisions and yet is simple and gives complete control to the office of the CFO.

IRIS  FinX™ offers an elegant solution to meet the company’s financial automation needs, right from financial consolidation to regulatory reporting and MIS.

The financial consolidation module provides a comprehensive and sophisticated platform that improves internal processes for consolidation, inter-company eliminations, currency reconciliation, modeling, and reporting of financial data. The software simplifies and automates financial processes like goodwill calculation, and minority interest calculation thereby allowing the CFO’s office to focus on analysis and managing exceptions rather than on reconciliations.

End-to-End filing module enables internal and external financial reporting, right from data extraction from accounting systems, multiple databases, or from spreadsheets to validated XBRL reports that multiple regulators mandate.

FinX can also provide access to auditors which would help them in going through the trail of actions and tie up financial statement numbers to the source. Moreover, data required to audit companies located in diverse geographies become available centrally. FinX is also architected to meet the emerging and evolving regulatory and statutory reporting including IFRS consolidation and Transition. Moreover, FinX can also come bundled with Business Intelligence software that can be easily integrated with the application for undertaking performance analytics.

To get more insight on FinX and know how FinX can cater to your company, contact us at

Toll-Free:  1800-22-4747

Email: Sales.finx@irisbusiness.com