Reviews for 'ERP and Corporate Management - Others'
Gartner defines financial close and consolidation solutions (FCCS) as applications that enable CFOs and their teams to manage the organization’s group close, consolidation and reporting processes. The FCCS market equips organizations to (1) manage and drive financial control across their close cycles through configurable workflows and dashboards that support collaboration and provide a centralized auditable view; (2) execute financial consolidation across multiple legal entities (LEs) and geographies; (3) meet accounting standards for currency translation, intercompany elimination and top-side adjustments; and (4) generate reporting that adheres to generally accepted accounting principles (GAAP), International Financial Reporting Standards (IFRS) and regional compliance.
Gartner defines financial reconciliation solutions as the key tool that enables the controllership team to manage and reconcile financial transactions across internal and external data sources. Financial reconciliation solutions replace manual transactional matching efforts with a standardized and automated workflow, configurable to predefined business rules. These solutions are cloud-deployed via software as a service (SaaS)
Internal controls software is designed to help organizations implement, monitor, and manage their internal control systems. These systems are essential for ensuring the accuracy of financial reporting, compliance with regulatory requirements, and the prevention of fraud. The software typically includes features such as risk assessment, control activities, continuous monitoring, automated audit trails, compliance management, and detailed reporting and analytics. By streamlining these processes, internal controls software enhances operational efficiency, ensures adherence to regulatory requirements, and provides a robust framework for governance and risk management.