Financial Consolidation
Transform your financial consolidation and reporting
Improve, automate, and simplify your financial close and reporting processes and build the data foundations for data analytics and enterprise planning.
Utilisation of modern technologies for the entire CFO agenda has never been easier. Compared to the legacy tools which often required coding and complex technical setup, the new solutions provide much simpler and user-friendlier way of driving the business processes.
That’s why PwC has formed a close alliance with NDC Group, Czech and Swiss-based tech and data consultancy company, through which PwC provides the best-of-breed software and associated consultancy services in the areas of legal financial consolidation, financial reporting, and financial forecasting and planning.
PwC considers NDC Financial Consolidation a mature product capable of handling even the most complex organisational and process setups. It especially highlights the technology’s ease of use, powerful yet easily manageable consolidation rules and calculations, and best-of-breed data security and operational maturity. Also, NDC Financial Consolidation speeds up the post-close audits significantly due to its inherent transparency and full audit trail.
“Our alliance with PwC provides a brilliant blend of our technological excellence and world-leading expertise of PwC in the areas of enterprise finance consulting, business process improvement, and system delivery. Personally, I see this as a real game changer as the customers, in the end, benefit not only from PwC’s expertise in consulting, delivery, and post-implementation support, but PwC is also continuously helping us to further improve the tool based on the feedback from the market which helps us to increase the value of our technologies.”
NDC Financial Consolidation
- Single platform driving your financial reporting, planning, and analytics.
- NDC Financial Consolidation provides a single suite for the most important corporate finance processes.
- At its core, it provides a set of functions specifically designed to simplify and automate the process of external (legal) and internal (managerial) financial consolidation.
- The setup can be also extended with data analytics and financial planning functions via the embedded SAP Analytics Cloud or other software providing the end-to-end holistic Enterprise Performance Management platform.
End-end financial close coverage
Besides the full support of the IFRS (incl. the pre-defined standard configuration), NDC Financial also supports local GAAPs and country-specifics.
The solution covers the entire close-disclose process from the data collection, through automated processing and adjustments, up to the final reporting.
Benefits of implementing NDC Financial Consolidation
Preparation for complex scenarios
Through its powerful internal engine, NDC Financial Consolidation is prepared for even the most complex consolidation scenarios, incl. transaction-level intercompany reconciliation, automated support of mergers and acquisitions, equity handling, and NCI calculations and alternative views through matrix consolidation.
Easy to use, simple to configure (no-code)
Despite its enterprise-grade design, all the settings and functions are accessible via a tailor-made and simple to learn user interface. There is no coding or scripting needed which enables the business teams to further maintain and improve the solution’s setup.
Full flexibility
While the solution comes with best-practice pre-defined content, all the configuration (ranging from data model setup, through detailed consolidation operations, up to exceptions and local specifics) can be fully customised to your organisational, process, and data setup.
Status reporting and workflows
At any point in time, the group reporting teams have a real-time view on the status of the consolidation process, submission status (data availability), and results of the automated validations. This makes the entire process very simple to manage and the solution clearly outlines the missing steps which needs to be accomplished.
Fast implementation, low OPEX costs
Thanks to the easy setup, the implementation, compared to the older solutions, is typically significantly faster. The architectural simplicity also drives down licence and operational costs for infrastructure, licences, maintenance, and continuous operation of the solution.
Independence on ERP and financial systems
NDC Financial Consolidation comes with pre-packaged integration to SAP on-prem and cloud ERPs, but it can be easily integrated also to other ERPs such as Microsoft Dynamics, Oracle NetSuite, and other systems or databases.
Extensions of NDC Financial Consolidation
Besides the in-built modules for financial planning and data analytics, NDC Financial Consolidation provides additional extension options:
ESG consolidation and reporting
The entire process from data collection, validation, data aggregation, and consolidation to final KPI definition and reporting. While the configuration is completely independent, the ESG data can be combined with pre-collected financial for financial reporting to avoid double work.
Consolidation of plans
Subset of the consolidation functions can also be used to fully automate consolidation of financial plans (e.g. data submissions, elimination of planned intercompany transactions, restatements and others).
Consolidation of non-financials
Thanks to its fully open data model, NDC Financial Consolidation can consolidate any non-financial data either as additional notes and disclosures alongside the main financial statement, or as standalone datasets for internal reporting.
Why should you implement NDC Financial Consolidation with PwC?
Our collaboration with NDC Group brings together cutting-edge technology and the deep consulting expertise of PwC. Here’s why PwC is the ideal partner to help you unlock the full potential of the NDC Financial Consolidation tool:
- A team of Europe-wide specialists: At PwC, we provide a team of highly skilled professionals across Europe, ready to support your financial transformation journey. Our team combines local knowledge with global best practices to deliver tailored solutions that meet your specific needs.
- Ensured compliance: PwC verifies that the NDC Financial Consolidation tool maintains compliance with IFRS and other relevant standards. By choosing PwC, you gain peace of mind knowing your financial data is managed according to the highest regulatory requirements.
- Comprehensive support: We offer professional, process-driven, and technical support throughout your system’s lifecycle. Whether you’re implementing the tool or looking to enhance its functionality, PwC is committed to providing unparalleled service and support.
- Proven track record: PwC has a proven history of successfully implementing advanced financial systems across various industries, making us a trusted partner in driving digital transformation. Our vast experience ensures that your implementation is handled efficiently and effectively.
- Holistic business approach: PwC’s deep understanding of business functions extends beyond consolidation, allowing us to align financial consolidation efforts with broader finance and non-finance strategies and processes, such as financial planning and analysis (FP&A), budgeting, and non-financial reporting. This integration ensures that your finance function supports organisational goals effectively.
Your Partner in Financial Transformation
Our extensive experience in financial consulting enables us to understand your unique business challenges and guide you through the implementation process smoothly. For us, it’s not just about applying a solution; we collaborate closely to shape transformative strategies that align with your business goals.
Choose PwC and the NDC Financial Consolidation tool to drive insights, streamline operations, and build robust financial foundations. Achieve more with the power of our partnership.
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