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Process optimization via software development and integration

ConVista ConsPrep®

Efficient support of the annual financial statement process

ConVista ConsPrep® is a program package certified by SAP designed to efficiently support the annual financial statement process. The quality and timeliness of data supplied for the consolidation process can be improved considerably by using different components of the ConVista ConsPrep-package. Potential sources of errors are eliminated thanks to media continuity and integrated processing.

Common aspect of the various functionalities support the preparatory activities for consolidation, i.e. the creation of individual annual financial statements. The flexible software architecture combines the advantages of standard software with the possibility of implementing customer-specific requirements.  A large number of our customers make use of ConVista ConsPrep®.

Amongst others, ConVista ConsPrep® contains the following components:

  • Integration of data from individual annual financial statements for consolidation (numerous possibilities for accumulating and mapping data; comprehensive examination of data quality);

  • Intercompany reconciliation on the basis of total records or individual items (use of e.g. configurable matching criteria or comment functions);

  • Form-based, integrated collection of data which is not entered in the individual annual financial statement (e.g. qualitative or quantitative notes);

  • Application of the consolidation’s validation rules at the level of the individual annual financial statements;

  • Calculation and posting of deferred taxes;

  • Monitoring and control of activities (e.g. consolidation preparation); support by means of manageable records.

  • Advancement of activities from the consolidated financial Statement to individual financial statements

  • Integrated, consistent data processing from individual to consolidated financial statements

  • Inclusion of intercompany reconciliation, data transfer to the consolidation, collection/upload of non-SAP data, calculation and posting of deferred taxes, e-balance, etc.