Our data engineers together with our partners and industry experts have applied latest technologies and methodologies to come up with a simple and innovative architecture which drives performance and efficiencies during the consolidation process. The strength of CFOUR is the infused workflow and the ability to sit on top of every infrastructure, system, and operational distribution across organizations from small to very complex setups.
CFOUR innovation allows direct connectivity to the source of data making it easier and simpler for users to update the information. One system that sits on top the underlying complexity and varieties of data systems. The innovation within CFOUR allows for multi-ingestion sources, thereby actuals, budgets and forecasts can have different source systems for each subsidiary making it a highly adaptable platform that can sit on any combination of solutions.
The adaptability of CFOUR allows for an unlimited number of levels in the organizational hierarchy, enabling and facilitating vertical consolidation, and sub consolidations.
ultiple sources have multiple Chart of accounts structures and formats. Our Chart of Accounts Managers facilitates the organization and re-organization of the structures through a simple drag and drop interface.
The inbuilt wizard allow the user to configure the mechanical aspects of the consolidation process when an outside ownership is present. Subsequent to the date of acquisition automates the accounting complexities created by a noncontrolling interest. Once the percentage ownership rules are defined CFOUR takes charge of implementing the necessary journals whilst running the consolidation process, following accounting standards without the need of the intervention from the user.
CFOUR workflow is intelligently designed to handle multiple processes with a click of a button. Let CFOUR ingest all data from all systems, or consolidate everything at one go following all the accounting and structure rules.
CFOUR has been designed to facilitate the analysis of data and leverage the financial data in the consolidation process as a performance tool and driver to help the organization in the data driven journey. The BI capabilities within CFOUR can be accessed by visualization layers such Panorama Necto, Power BI or any enterprise BI tool that might already exist in an organization.
CFOUR has been designed around collaboration and transparancy. Each distinct pillar within the workflow allows for centralized or decentralized approaches depending on the deployment of finance teams within the group.
Excel remains one of the most practical tools used in the finance world. Most of the consolidation process are handled in Excel and many reporting already exists in layers of worksheets and workbooks. To facilitate the transition and fast adoption, direct connectivity to the CFOUR data models is available, through formulas or pivot tables to allow the users to use Excel as a visual tool or analysis tool.
One of the complexities within any consolidation process is the ability to translate the subsidiaries into the holding base currency. This complicates once there are multi-level structures with multiple base currencies.
CFOUR’s multi-currency engine imports currencies directly from international providers such as the ECB or OANDA. Other providers can be provided by Eunoia. The engine is a flexible configuration allowing the user to edit, update and overwrite exchange rates at different levels from subsidiary to parent of parents. The lower the granularity the higher the priority when executing the calculations. Any permanent adjustments, journal entries or other calibrations are handled automatically by the Multi-currency engine, applying the exchange rates provided according to the accounting standards.
The most important, and tedious process of consolidation is mapping process of subsidiaries to parents. This becomes more complex if the budgets and forecasts are different than the one in the accounting system. CFOUR’s mapper uses the knowledge and acumen that has been accumulated over the years to facilitate and suggest the mapping process using algorithms based on user driven strategies.
CFOUR’s omni channel reporting abilities allow the users to visualize the data using their preferred tool. Within CFOUR reports can be designed and authored using a simple an innovative UI, having rich filtering abilities, with drag and drop functionality. Reports are easily published and disseminated to the CFOUR user community.
All actions and events are logged in CFOUR for transparancy. The fine grained audit log is easily accessible by the authorised users. The user is notified highlighting the user to provide attention to features of CFOUR.
Import transactions from the source systems to CFOUR to provide the user with drillability and tracing of figures making up balances. The intercompany feature allows users to create rules and automate the intercompany journals. The algorithm is also able to suggest intercompany transactions across systems.
Understand the business performance by comparing to budgets at subsidiary level. Budgets are then consolidated to enable drillable budget comparisons. CFOUR handles unlimited budget revisions and forecasts enabling a realistic view of the organizational projections. The user can compare to a revised forecast or to the orginal budget easily.