FESA CONSOL

FlexSystem

Achieving Performance Management Improvements for Strategic Business Units

Issues

Strategic business units are different from legal entities so management accounting is different from financial accounting. Preparation of financial accounts reflects the financial position and performance of a legal entity as a whole. However, each legal entity can operate multiple strategic business units and different legal entities can be involved in the business operations for the same strategic business unit at the same time so the preparation of management and financial accounts can be a challenge.

  

Expectations

Customers believe that their primary objective is to execute performance management effectively and that the preparation of management accounts and consolidation for strategic business units is just one task. However, the preparation of management accounts is still important and processes should be automated by a modern accounting system.

  

Solutions

FESA Professinoal Accounting is capable of handling the mechanical work very efficiently. Through the proper configuration of processing rules and relevant lookup tables, FESA Professional Accounting is able to generate relevant scenarios of vouchers for both financial and management accounting

  

Benefits

The return on investment is significant as the system can output most of financial information relevant for performance management as well as statutory reporting. Professional staff can focus on providing professional insight of the information this enhancing shareholder value.