Financial Consolidation- Infor

FDC- from infor
Source: www.infor.in


Powerful Consolidation Application

Extensity is now part of Infor.

Visit the Infor site to learn how Infor software will make a difference in business today.

Infor recognize that different organizations require different consolidation solutions, depending on their financial and IT structures. In addition to performance management financial consolidation functionality, built on a centralized architecture, Infor offer FDC, a powerful consolidation application designed for businesses that have autonomous reporting units and/or subsidiaries. FDC uses a distributed application architecture in which each reporting site has its own database, for local data ownership and maximum flexibility. Each unit within the organization can perform sub-consolidations and produce their own financial statements in different GAAP formats, according to local requirements.

FDC streamlines consolidation and reporting so that managers have more time spend on analysis and strategic planning. It automates consolidation from multiple locations, in multiple general ledgers and charts of account, and in multiple currencies.

FDC has been architected to deliver all your reporting requirements. This includes management, legal, statutory, and regulatory reporting requirements from a local and global perspective, incorporating support for International Accounting Standards (IAS), US GAAP, Canadian GAAP, UK GAAP, FASB, and more.

With FDC you can:
 Collect data quickly from multiple general ledgers and multiple charts of account
 Allow remote sites to extend the application for local reporting without impacting the group application
 Support local and multiple base currency reporting
 Consolidate multiple hierarchies (legal, management, etc.) and multiple versions of the same structure
 Match intercompany account activity at the appropriate rate and report discrepancies
 Carry out automated adjustments including minority, inter-company, recurring, and miscellaneous
 Keep a complete audit trail of all adjustments and journal entries which can be interrogated by the pre-built reports

Architecture and Technology:

FDC is a distributed solution in which each remote site maintains its own Pervasive SQL 2000 Server database. Within each site, all data is stored in a secure, central relational database, eliminating errors due to data duplication and transfer. FDC was created specially for finance professionals and requires only minimal IT involvement to implement and maintain. A code-free web interface simplifies data entry, so finance staff can add and delete accounts, change organizational structure and perform ad hoc analysis as required. The application is completely menu and form driven, eliminating the need to create complex macros or assemble logic files. FDC can be delivered across an entire organization through either a LAN or the web.

Three optional modules are available to enhance the value of FDC:
 Planning - For carrying out 'What If" analyses, evaluating financial plans, and setting top-down targets
 FDC Web Workstation - For delivering end user reports and analyses via a web browser. This module allows end-users to create and save their own analyses without the need of IT/Finance staff support.
 Production Reporting - For automatic production and delivery of formal reports to users in a variety of formats.

System Requirements:



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FDC- from infor