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Integrated view of the
capital group's finances
Modern tools for financial consolidation: from data collection to clear group-level reports.
Automate processes, eliminate errors, and quickly gain a complete view of your group’s finances.
Financial consolidation is the process of combining financial data from subsidiaries within a corporate group into a single, coherent picture composed of consolidated financial statements: balance sheet, income statement, cash flow statement, statement of changes in equity, and accompanying notes.
Properly executed consolidation ensures compliance with reporting requirements and enables an accurate assessment of the financial position of the entire corporate group.
Management consolidation is the process of preparing budgets and forecasts for individual companies and the group. It typically includes performance planning as well as balance sheet and cash flow modeling based on assumptions adopted by the organization.
Fincorex® automates and simplifies the consolidation process. Built-in mechanisms for eliminating intercompany balances and currency translation reduce the risk of errors and accelerate the preparation of consolidated data for both statutory and management purposes.
Fincorex® does not impose reporting standards. It enables the preparation of financial statements in compliance with legal requirements and according to the accounting standards adopted by the organization for the entire corporate group.
The application integrates data from multiple companies, eliminates intercompany balances, and allows the preparation of required reports along with adjustments in a straightforward way. This enables central finance departments to generate statutory reports much faster while reducing the risk of errors.
Fincorex® allows the creation of budgets, forecasts, and management reports for any time horizon, from monthly data to long-term strategic plans.
Users can analyze data by company, business segment, or subsidiary, using dynamic versions of budgets and forecasts. This provides managers with a clear view of financial performance, enabling faster reaction to deviations and data-driven decision-making based on up-to-date, consolidated information.
The system’s algorithms automatically identify and eliminate intercompany transactions according to group rules. It also converts data entered in a company’s local currency to the group currency, automatically generating exchange rate differences. Reporting can be performed in any currency.
Elimination and translation mechanisms operate “on the fly” without the need for additional time-consuming processes or procedures. Thanks to proper design and change history tracking, it is possible to fully monitor and control the effects of each elimination.
The system allows for entering and tracking consolidation adjustments for all reports at any stage of consolidation. Versioning and change history functions enable analysis of the impact of individual adjustments, ensuring full process transparency and facilitating reporting to management and auditors.
Fincorex® proves its value wherever the scale and complexity of controlling demand absolute reliability.
Chief Financial Officer
Polpharma Group, Poland
Based on our long-term collaboration with the creators of Fincorex®, we decided to implement this solution.
We primarily use it for reporting and planning the income statement (P&L), balance sheet, and cash flows for all entities within our group.
It operates quickly and efficiently in the areas that are most important to us—cash flow calculations, currency conversions, and consolidation of budgetary and forecast data. It is a key system for reporting our organization’s results.
The ability to connect to the system via Power BI is also extremely important to us, and this is provided by the Fincorex® Power BI Connector.
Long-term collaboration and trust truly matter!
A diversified corporate group operating in multiple European countries, with a network of subsidiaries stretching from Kazakhstan to Spain.
The organization required a flexible management consolidation tool to efficiently prepare an annual forecast and a five-year budget—capabilities that their existing statutory consolidation tool could not provide.
Fully configurable to adapt to your company’s changing needs, not the other way around.
Designed from a controller’s perspective. Work seamlessly in an intuitive application or in Excel, with visualizations in Power BI.
Built-in financial logic enables a quick and structured implementation, completed in weeks, not months.
Controlling teams can independently add and modify system elements such as accounts, cost centers, or user permissions, without IT support.
All entered data is consolidated instantly, with no additional procedures required.
Imports data from accounting and ERP systems such as Symfonia or Oracle, with the option to integrate any other data source.
Transparent data lineage and detailed logging of all modifications, including author and timestamp information.
Your organization’s data is protected through corporate account login, multi-factor authentication (MFA), and regular system updates.
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