FESA CONSOL

FlexSystem

FESA Consol

FESA Consol

Introduction

FESA Consol is a new generation of accounting system with the core capability of improving efficiency and internal control over the preparation of consolidated financial statements and also in improving the execution process relating to performance management for a group of companies.

FESA Consol allows for the automation and streamlining of the group consolidation and budgeting functions to meet financial regulatory requirements and to facilitate the reconciliation between the differing standards.

With over two decades of operational experience within the financial software market as well as our own continuing investment in technology, our FESA Consol offers a high speed platform that allows the streamlining of processes through the automation of the entire consolidation process thus dramatically improving your productivity.

Information collected can be used in both financial and management reporting and where appropriate reporting can be deployed in a number of ways including to dashboards and mobile environments.

 

Benefits 

► Drastically minimizes the lead time of financial closing so more focus can be put on the presentation and understanding of your numbers thus enhancing shareholder value – in fact the monthly closing for group consolidation can be reduced to a day 

► Improves the relevance of your financial information – the system allows for the same set of data sources to be utilized for the generation of relevant financial information which can be used for different purposes. Reconciliations between financial scenarios are easy to achieve saving time when reconciling between IFRS and GAAP 

► User friendly – design of each application system is as concise as possible, so users can be familiar with the operational aspects of the system quickly 

► Minimizes tedious tasks – users can leverage their skills to handle strategic analysis and presentation rather than tedious tasks 

► System continuity – the system is able to follow new accounting practices through our continued effort to configure new processing rules into the system

 

Features

► Supports different types of data sources for consolidation including transaction, voucher, trial balance and financial reports 

► Different scenarios can be generated with for example the first scenario being to comply with IFRS requirements and a second scenario being for the monitoring of business performance by adopting specific measurement rules 

► For each batch of incoming financial data confirmed for processing, relevant vouchers can be overwritten automatically until period end closing is executed 

► Supports multiple exchange rate types including opening rate, closing rate, average rate, historical rate and composite rate 

► Automatic currency translation including the computation of exchange realignment for certain non-current assets and liabilities

Automatic currency translation including the computation of exchange realignment for certain non-current assets and liabilities

 

Extended capabilities that support mappingof different combinations of data sources to multi-tagging with user-defined dimensions for reporting purpose

FESA Consol 2 

Why FESA Consol

With FESA Consol’s unique innovative technologies, customers can unleash the full power of group finance. Based on the technologies of FlexSystem and its high quality implementation of the Finance Computing Framework, FESA Consol is designed to address your business requirements across diverse enterprise environments. 

Risks that are reduced using FESA Consol: 

 Minimization of erroneous software selection through our accelerated prototyping proves that FESA Consol can fit your business before signing sales agreements

 Minimization of costs associated with an ever changing business environment means that FESA Consol allows for the continual configuration of new system features and processes without writing off your initial investment

 Challenges of dealing with complexity are reduced by improving your operational processes immediately and continually without adding more levels of unnecessary workflow

 Establishing strong internal controls through FESA Consol can help you control your group finance function with strongly managed and auditable processes 

Additionally we bring: 

 A strong implementation commitment with a dedicated consulting team that will work with you in all stages of implementation in a proactive manner

 Pervasive systems that puts group finance everywhere using the web client of FESA Consol and which is compatible with HTML 5, so you can operate the system through most common mobile and tablet devices

 

Cases 

 Diversity of data source formats 

 Collection and confirmation of end user requirements 

 Differing reporting curriencies within overseas companies 

 Differing financial year end dates 

 Recognition of Chinese characters within data source 

 Operational problems for the implementation of multiple consolidation methods 

 Time pressure to maintain multiple scenarios of group consolidation 

 IFRS 8: Operating Segments

 IFRS 11: Joint Arrangements 

 Multi-scenario budgeting and the risk of inaccruacy

 

Downloads 

 Brochure (pdf format) 

 Presentation (pdf format) 

 Presentation (PowerPoint format) 

 Demo - standard consolidation (PowerPoint Show format) 

 Demo - Chinese trial balance (PowerPoint Show format)


Others 

 All demos (YouTube format) 

 Comparison with other solutions