We are currently experiencing very challenging times in which companies are required to have a high degree of flexibility and resilience. Some organizations merge to become stronger together or spin off business units to focus on their core business for the same reason. These corporate transactions lead to a change in the reporting requirements and content.
1.0 / Challenges
Most companies that undergo such a transformation are already expected to meet the set requirements by the reporting date of the next quarter, which is often quite a challenge due to the new processes, new structures or new systems. We understand this time pressure and have developed methods and tools to support companies in such critical times while always factoring in and fulfilling all compliance requirements. We are also aware of the impact that such a transformation has in terms of resources, and we therefore provide our clients with interim support when producing consolidated financial statements or handling management reporting requirements.
2.0 / The Finatycs approach
A
With regard to the tough timeline, we do not experiment with IT enablers. We use tools with which our clients are already familiar to minimize friction, add stability to the whole process and enable an immediate start.
B
All our projects in this area are highly sensitive, especially for our clients. The results of these projects are part of external or legal reporting and go on to be published or reported to banks, investors or other stakeholders. We are aware of this sensitiveness, which is why we implement consistency checks and perform analytical checks to validate our results during the whole project. Close and trustful cooperation with the client is crucial when working on projects with such exposure.
C
Although we are confident that our data gathering and transformation process is robust and reliable, we nonetheless define the half-life of the implemented solution. We draw up a concept for medium-term and long-term solutions right from the start.
3.0 / IT-Enabler (Software)
In our most recent projects, we used the following set of our tools:
IT-Enabler (Software)
SAP FC
MS SQL Server
Lucanet
MS Access
Alteryx
MS Excel in combination with Power Query
4.0 / Success stories
4.0 / Contact
Eduard Kobert
Managing Partner
