Cloture & Consolidation
FINANCIAL CLOSING, CONSO. STATUTORY and regulations (Pillar 2,…)
The management of financial closing, statutory consolidation and, more generally, disclosure management within a Finance Department involves a number of strategic, operational and compliance issues. These processes are crucial to guaranteeing the reliability of a company’s financial statements, the transparency of its financial situation and its compliance with accounting regulations.
With the need to accelerate deadlines, one of the challenges of financial closing is to find the right balance between complexity and reliability of the accounts by taking advantage of digital opportunities and mobilising teams to transform and collaborate in new ways.
Finance Departments are faced with the challenge of defining and anticipating the right trajectory for their statutory consolidation information systems: renewal of market solutions, emerging players, adherence to or pooling of process solutions or related Pillar 2, ESG and EPM regulations.
Pillar 2 regulations (global minimum tax) present a number of structuring challenges: a short timeframe for understanding the rules and implementing them; the availability and quality of voluminous, multi-domain data (tax, accounting/conso, HR, etc.); financial impacts with simulation challenges.
‘The adaptation of governance (organisation | Data) and technological opportunities can provide agility and efficiency to cope with changes in regulations, changes in the structure of groups, and the obsolescence of solutions’.
Fazil BOUCHERIT, Director of Finance, closing and consolidation expert
Our value proposition
Axys supports you in your projects tooptimize and digitize your financial closing and statutory consolidation processes, and in your implementation of compliance requirements (Pillar 2). See our Sustainable Finance offer for support with extra-financial reporting.
FINANCIAL CLOSING
Diagnosis and improvement plan for closing processes
- Assessment of the level of maturity and performance of the organization, processes, IS, and process management with the various IS stakeholders. Recommendations.
Optimization of organization and closing processes
- Implementation of fast, hard or smart close approaches: simplification of the closing process and management of irritants in upstream processes, task automation, reduction in closing times
Optimizing and digitizing auditing
- Harmonizing and simplifying processes
- Digitization of accounts justification and planning (project management and solution integration)
Streamlining stakeholder exchanges
- Setting up a closing office
- OD management (traceability, validation)
- Optimization of inter-company processes
- Dashboard implementation and analysis
STATUTORY CONSOLIDATION
Framework and assistance in choosing consolidation solutions
- Étude de cadrage et business case pour la digitalisation ou le changement de solution de consolidation
- Accompagnement dans toutes les phases de sélection
- Pre-identification of solutions and benchmarking, with advice on selection criteria and on how solutions fit in with the management of related areas, such as Pillar II, EPM, CSR, etc.
Implementation of consolidation solutions
- Overall management of implementation projects: piloting, project management, configuration, technical coordination, change management
- Integration of consolidation solutions from SAP, TAGETIK, BOARD…
PILLAR 2 COMPLIANCE
Framing and target definition
- Qualification of the scope of application, definition of the target’s guiding principles, acculturation to the reform
- Tax impact assessment simulations
- Analysis of existing situation and impact (processes, data, IS, reporting)
- Definition of data model, assessment of data availability and quality
- Development of target, trajectory and project plan
Implementing the reform
- Preparation of specifications & assistance in solution selection
- Support for the implementation of Pillar 2 by assisting the business and IT teams: Specification of the solution, coordination of data collection and quality control, mapping with the solution’s data model, change management, etc.
- Solution implementation (detailed knowledge of market solutions SAP, KSHUTTLE, TAGETIK…)
Our customer cases
Setting up a closing office
Transport sector
Harmonization of closing processes
Services sector
Digitalisation of the closing and justification of accounts
Logistics sector
Our ecosysteme
A project to entrust to us, meet our experts
Jean-François VERSCHAEVE
Finance Director, Closing and consolidation expert
Fazil BOUCHERIT
Finance Director, Closing and consolidation expert
Our support in Finance
Transformation and Excellence
Définir les trajectoires des Directions Financières, les piloter et mettre en œuvre l’amélioration continue
Sustainable Finance
Meet the challenges of global performance and business model resilience around CSR, ESG and CSRD issues
ERP Finance
Manage ERP transformation and optimization projects. Accounting, cost accounting, management, cash management, repositories…
Performance monitoring
Transform performance management systems (management model, forecasting processes, management and reporting tools, etc.) to adapt to a changing environment.
Closing & Consolidation
Optimize and digitize your financial closing and statutory consolidation processes, ensure compliance (Pillar 2, etc.)
Electronic invoicing
Ensure billing and VAT compliance and security, pursue opportunities to transform P2P and O2C processes
Closing & Consolidation
Optimize and digitize your financial closing and statutory consolidation processes, ensure compliance (Pillar 2, etc.)
Finance homepage
Support finance departments in achieving efficiency and in their role as Transform Partner.
Do you have a project in mind ?
Transforming your organization is a complex challenge requiring strategic vision, specific skills and unfailing responsiveness.
Axys is committed to meeting your needs as quickly as possible, and to providing you with customized solutions tailored to your specific challenges.
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