Intercompany Accounting
Transforming the intercompany process will drive efficiency into the month-end close. The deployment of preventative & detective controls with automation helps simplify the process of posting transactions, identifying and eliminating mismatches, and enabling an effective settlement process.
Accurate Intercompany Invoices
Automate Intercompany Reconciliations
Improve Cash Flows
Streamline Intercompany Postings, Reconciliations and Settlements
The intercompany process can create complexity in a global organization resulting in challenges when posting transactions, reconciliations for the period close and settlement of transactions.
No Standardization of Intercompany Postings
An inefficient process results in errors with postings impacting the period close and incorrect tax postings. Automated controls improve the efficiency and effectiveness of the intercompany process across the organization and allow you to gain visibility and clarity into cross-company transactions.
Intercompany Mismatches
System and process complexity can result in misalignment of intercompany balances that need to be resolved in order to prepare accurate consolidated financial statements. Standardized workflows ensure that charges are pre-approved with automated postings to avoid any mismatches.
Infrequent Settlements Increase Risks
An inefficient process increases the chance of exchange gains and losses and impacts movement of cash across the organization. Leveraging automation decreases the risks, ensures compliance with your intercompany process, and improves cash flow visibility.
Intercompany Accounting Solutions For Every Industry
The effectiveness of a company’s intercompany accounting process has an impact on its speed to close, the complexity of its accounting practices, and its exposure to regulatory risk; it can create an administrative burden for accounting staff for what is essentially an internal, non-value-creating process from the shareholder perspective. Getting it wrong can have serious financial implications.”
Learn More About Streamlining Your Intercompany Accounting
Gain an unprecedented level of visibility and clarity into cross-company transactions
