Financial Consolidation & Reporting through IBM Planning Analytics and QueBIT’s ControlWORQ
The Challenge
Pulling together the financial consolidation requires coordinating the efforts of many people, with several sources of data in a variety of formats.
The Solution
Implement a new Financial Consolidation and Reporting solution based on the IBM Planning Analytics platform, together with QueBIT ControlWORQ.
The Benefit
Significant decrease in time to complete the global financial consolidation and deliver reports; increase in accuracy and analytics capabilities.
“I can’t imagine not having ControlWORQ! It automatically posts all our intercompany eliminations, and conveniently lets us post adjusting entries directly from Excel.”
- Senior Director, Financial Planning and Analysis
The Challenge?
A global manufacturer operating across multiple geographies, currencies, and business models faced significant complexity in its financial consolidation process. With more than 20 entities submitting trial balances from different ERP systems and local charts of accounts, consolidation relied heavily on Excel to manage currency translation, intercompany eliminations, adjustments, and reporting. The manual, spreadsheet-driven process was time-consuming, error-prone, difficult to audit, and left limited time for meaningful financial analysis
Delivering the Solution
QueBIT implemented a Financial Consolidation and Reporting solution using IBM Planning Analytics, augmented with QueBIT’s ControlWORQ. The solution centralized trial balance data, standardized global chart mappings, automated currency translation and intercompany eliminations, and enabled secure journal entry posting through Excel and web interfaces. By replacing manual workflows with a controlled, auditable consolidation platform, the finance team gained faster close cycles, improved data confidence, and a scalable foundation for future planning and reporting.
Benefits/Results
Request a Planning Session With a QueBIT Expert
Participate in an hour-long discussion with one of our Solution Architects and receive an agile planning roadmap to help your company progress along its journey to business agility.