Design, implementation and managing a multi-currency consolidation reporting system
General and subledgers administer entity historical data per legal. When it comes to review consolidated positions, regions, segments, prospective views such as budgets and long-term financials and cash flow forecasting, Workday Adaptive Planning is a great solution with a perfect price / quality balance. It’s easy to use and the option to add non-financial data, such as KPI’s, volumes, investment descriptions, number of employees and comments, creates an excellent cockpit management tool, including a lot of visuals.
The Fintell team adds value to think as a CFO how to structure the reporting and building plus implementing the reporting systems. These cloud-based reporting systems were implemented for a US based biotech business with subsidiaries in US, UK, BVI and NL. Similar systems were built for a private equity portfolio investment, with entities in US, Europe and South America. The Fintell team was trained on the job, by taking on responsibility for the group consolidated reporting in Hyperion for 50 multi-currency entities, across all continents.
Design, implementation and managing a multi-currency cross border cash pool.
Each legal entity has its own bank account(s). Each legal entity prefers to hold a cash balance to make sure it can pay its short-term liabilities. With multiple bank accounts for multiple legal entities, the sum of all cash levels on each bank account can accumulate substantially. A cash pool can concentrate the cash and will reduce the amount of cash that should be hold for paying short-term liabilities. The result is more centralized cash management, including centralizing foreign exchange management.
Fintell designed multi-currency cross border cash pool, including zero balancing, notional pooling for interest and account balances. Fintell is managing this with the banks, local finance teams and the central finance team. Apart from the design and implementation, cash flow forecasting will become increasingly important when a cash pool is running. Fintell also has broad experience in designing, implementing and managing cash flow forecasting reporting, through Workday Adaptive Planning or excel.
Fintell assisted in the process to design, manage and built an online dataroom. It included flexibility to allocate different sets of authorization, to hide certain sections, label documents as confidential and more. The dataroom software is not expensive and with Fintell experience, such a project would be an excellent, inexpensive preparation for any upcoming sales project. Apart from this, it can also be used as a permanent centralized database to house all critical documents per legal entity.
Fintell worked closely with the commercial teams, to automate rebate calculations. The calculations included multiple dimensions, such as products, customer (groups), pricing, turnover and more. The financial basis for calculations was used in an efficient way to benefit the commercial process.
Fintell designed and managed an equity shareholder register. The requirements were so specific, that no tailor-made package would capture the needs. More than 500 investors, more than 10 equity instruments, hundreds of movements per year, more than 15 years of history, information needs for investors and the basis for tax filings and funding rounds, were the ingredients for this system with zero tolerance for mistakes.
Fintell worked on multiples business and investment cases, including (non)financial information, resulting in NPV, pay back and IRR. The combination of having a solid financial background, in depth knowledge of financials systems and software, and valuation knowledge makes Fintell to a partner that will add value in an efficient and effective way.
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