What is IBM Cognos Controller

IBM Cognos Controller – for which Adapt IT is a primary licensed re-seller in South Africa –is a comprehensive solution that offers power and flexibility for streamlined, best-practice financial consolidation and reporting — all in one solution.

Its full suite of capabilities delivers a complete portfolio of financial results and provides an integrated platform for financial and management reporting. A web application for reporting site users offers an efficient way of reconciling and submitting data. And an on-cloud deployment option helps organisations meet their individual IT requirements without limiting future options.
 
IBM Cognos Controller

Customer Challenges

Manual Process

Manual process don’t allow for the automation of foreign currency reserve calculation or the necessary consolidation entries for eliminations.

Reporting

Reporting is not automated or integrated making it difficult to answer questions and provide information in an efficient manner.

Complexity

Complexity in collecting multiple subsidiary data and mapping to a group chart of account.

Validating

Validating completeness and accuracy of the data.

Reconciling

Reconciling Trial Balances, disclosures (movements) to the face of the financials and opening to closing balances are manual leaving room for error and exposure to risk.

Dealing with the Complexity

Dealing with the complexity of inter-company matching is often extremely time-consuming delaying an accurate reliable close.

IBM Cognos Controller Benefits

Financial teams drive efficiencies, accuracy and reliability into the close cycle by making use of out-of-the-box capabilities to improve and automate:

  • Data collection and validation
  • Reconciliations
  • Workflow and tasks to improve the close cycle
  • Currency conversion
  • Minority interest calculations
  • Inter-company eliminations
  • Group closing adjustments
  • Management adjustments
  • Allocations
  • Advanced calculations and compliance testing
  • Consolidated financial reporting for local jurisdictions and multilingual reporting that supports International Financial Reporting Standards (IFRS), Financial Accounting Standards Board (FASB), Basel II and Sarbanes-Oxley requirements and is designed to handle any Generally Accepted Accounting Principles (GAAP) or regulatory environment

IBM Cognos Controller Features

Time Saving

  • Trim days off your monthly close process by automating data collection, data entry and time-consuming consolidation and accounting procedures

Operational

  • Know exactly where your entities are throughout the close process.
  • See who has submitted and processed their consolidations or completed inter-company eliminations

Financial

  • Improve the integrity of your financial data with detailed audit trails, tracking data flow throughout the consolidation process and maintaining accountability

Process

  • Embrace a self-service, finance-owned and managed solution, giving you real-time data updates and the flexibility to easily define and maintain rules and processes
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