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Financial Close Management / IBM Cognos Controller

Financial Close Management
Complete, accurate and auditable financial consolidation

IBM Cognos Controller is financial consolidation software that supports the complete close, consolidate and report process. Automate and accelerate the close process with a full suite of financial consolidation software designed for finance users.

Cognos Controller allows you to deliver complete financial results, create financial and management reports, and provide the chief financial officer (CFO) with an enterprise view of key financial ratios and metrics.

  • Finance manages the consolidation process—define and maintain all financial consolidation rules and processes from the office of finance.
  • Built-in best practices—ensure accurate collection and reconciliation of financial results, and eliminate data and calculation errors.
  • Local and global financial consolidation—meet the complete range of consolidation and reporting requirements including International Financial Reporting Standards (IFRS) and U.S. Generally Accepted Accounting Principles (GAAP).

Finance manages the consolidation process
  • Audit and track data flow throughout the consolidation process. Drill down into details to identify who did what and when.
  • Customize the consolidation process to handle specific requirements with user-defined business rules. Maintain a configurable foundation for finance users.
  • Ensure data consistency with a validation process that reconciles data for accuracy and notifies you of inconsistencies.
  • Accommodate mergers, acquisitions or reorganizations by updating structures or business rules once, and see the changes reflected throughout the application automatically.
  • Amend entities, structures and account details without coding, scripting or complex language.

Built-in best practices
  • Consolidate thousands of accounts into a common chart-of-accounts structure.
  • Automate allocations between companies, accounts and business dimensions, and calculate weekly actualities with Cognos Controller Financial Analytics Publisher.
  • Speed the reconciliation of intercompany balances with reports available for both groups and companies.
  • View automatic journals at the subgroup level and drill down through Trial Balance by automatic journal type and original company.
  • View company contributions from the lowest level to the top group with automatic journals.
  • Integrate financial consolidation into a performance management system that includes reporting and analysis, scorecarding, planning and budgeting.

Local or global financial consolidation

  • Consolidate multiple views from legal, management and tax perspectives, or in terms of budgets, actuals, plans and forecasts.
  • Provide critical data for regulatory compliance including IFRS, GAAP reporting and Sarbanes-Oxley.
  • Perform advanced formula calculations using year-to-date (YTD) values, averages and multiple periods, combining financial and non-financial metrics.
  • Present certified financial results in multiple reporting and transaction currencies.
  • Make investment adjustments for complex ownership situations such as regional consolidation and reporting for Brazil, Denmark and the Netherlands.

Contact us for more information on Financial Close Management solutions with IBM Cognos Controller.