Choosing Adaptive Insights has accelerated our financial consolidation close and eliminated days of work, which has freed up our finance team to focus on more strategic initiatives to further our growth.
Paul Crawley, CFO, DayMen
Adaptive Consolidation’s intuitive, Excel-like interface and debit/credit format streamline intercompany eliminations, journal entries, and more. It’s easy to categorize pre-eliminations, eliminations, and adjustments. Minority interest and ownership percentages are user-defined and automatically calculated. Our automated currency conversion and cumulative translation adjustment simplify complex multi-currency financial consolidations.
With Adaptive Consolidation, financial consolidation happens in real time—no batch jobs, no long-running processes—so you always have visibility during the close. Built-in rule intelligence automates intercompany eliminations, reclassifications, and allocations. For even more insight, you can drill down into the details behind consolidated figures.
We’ve built controls right into Adaptive Consolidation to help you audit your data and track your close. You’ll easily be able to track who changed values and formulas as well as when they were changed, thanks to date and time stamps—even view new and old values. Our clear, centralised view of all users, and their roles and permissions, helps you stay on top of your compliance initiatives.
Powerful built-in process management allows you to track and monitor the execution of financial close tasks, such as checking currency rates and ensuring eliminations have been finalized. It’s the perfect tool for your close checklist—and keeps everyone on track, no matter how distributed your accounting team is.
Adaptive Consolidation’s built-in, dynamic web reporting lets you drill down into GL accounts, even back to the detailed transaction level. Refresh financial statements with one click, and deliver formatted narrative and board reporting with Adaptive OfficeConnect. XBRL integration streamlines the process of moving from “close to disclose.”
Because Adaptive Consolidation is built on a common technology foundation and unified with Adaptive Planning, you can pivot from close to budget with a single click. A single database for financial data and business structure ensures a pain-free handoff from consolidated financials to plans.