For any SaaS organization, corporate accounting has long been viewed as custodian and curator of financial data. Nevertheless, as any Controller or CFO of a multi-entity SaaS organization can tell you, when bringing data together the financial consolidation process has long been an arduous chore of information assembly, validation and reporting.
Consolidations have been a routine part of many corporate accounting departments for as long as most can remember. Yet, as the SaaS industry has continued to undergo significant changes, so has the complexity and compressed timeliness of consolidations.
The pace and complexity of today’s business environment is driving financial executives to shift their financial management solutions to a system of intelligence, rather than a system of record. Thus, becoming a critical part of where access to continuous, accurate, consolidated financial reporting can be made possible. However, when one can leverage a truly integrated cloud financial management system, the consolidation process can become automated, and by automating the consolidation process, quality and trust can then be reintroduced into the close process.
Financial leaders in today’s SaaS companies should be asking themselves if their consolidation process is a source of value creation or a barrier preventing greater strategic contribution?
Thus, in the whitepaper below, Sage Intacct outlines and discusses how software can help to overcome the challenges of consolidation today.