Solutions

ACCURATE FINANCIAL RESULTS, DELIVERED FAST

Key Features:

  • Financial consolidation
  • Powerful management reporting and analytics
  • Complete customization of output reports
  • Integrated disclosure management
  • Scalable web architecture
  • Cloud/On-Premise hosting models
  • Powerful workflow management features with complete audit trail
  • Seamless integration with accounting systems (SAP/Oracle etc)

Key Benefits:

  • Quickly deliver financial statements with full traceability to General Ledger
  • Reduce consolidation cycle by days or even weeks
  • Deliver timely results for internal and external reporting
  • One integrated application for compliance with different global accounting standards
  • Discover opportunities and improvement areas through flexible analytics and customisable management reporting

BeyondSquare Financial Management Suite (FMS)

BeyondSquare FMS is a flexible financial consolidation and reporting application. It provides financial managers the ability to quickly consolidate and report accurate financial reports, with support for any global accounting standard. BeyondSquare FMS is designed to be used and maintained directly by the finance team. It eliminates cumbersome and error prone manual processes in preparation of financial statements. Its advanced reporting module, allows finance managers to build powerful reports and dashboards for internal MIS, CXO reporting and regulatory reporting.

Doing it faster, and doing it right

Most financial executives face the challenge of performing complex financial consolidations using spreadsheets. This process can be error prone, difficult to maintain and audit. Often, the chart of accounts is not standardised across the subsidiaries, increasing the complexity of spreadsheet consolidation. Scampering for data from group companies on the back of stringent deadlines can often be frustrating. Forex translations, global reporting, custom management reporting and other such specific requirements can add to the challenges.BeyondSquare FMS is a unique platform that through a single user action, can consolidate financials, generate regulatory reports as per different accounting standards and provide rich analytics. The product greatly reduces consolidation cycle times, and improves internal control risks. The final report provides a complete linkage to the general ledger, and the built-in book-keeping module ensures that all out-of-book adjustments are auditable. The advanced reporting features help organizations’ create any number of custom reports for internal and external reporting. The powerful analytics dashboard helps CXO’s spot opportunities and improvement areas, and aids in taking better business decisions. Designed for use by finance executives, the application can be fully maintained by the business user, unlike other ETL tools, data warehouses and Business Intelligence tools that rely heavily on IT teams for support. BeyondSquare FMS optimizes communication and collaboration across multi-locational teams through one globally accessible unified interface.

Improved Financial Close Process

Preparing standalone and consolidated financial statements is a simple 2 step process:
  1. Upload trial balance file
  2. Pass adjustments using the built-in book keeping module

BeyondSquare FMS can consolidate financials irrespective of the accounting transaction systems used in the organization (SAP, Oracle, Tally etc.). The system supports foreign exchange translations and support for differing financial close cycles.Support for different accounting standards ensures that multiple reports can be created without any duplication of effort.

built-in-book-keeping

Built-in book keeping

The system provides the facility to easily pass journals and group level elimination entries through creation of templates, auto-posting etc. With provision for narrations, document attachment and export to excel/pdf features, the system provides the auditors complete information on adjustments and eliminations

Disclosure Management

The Disclosure Management module is configurable for various regulatory standards that include IFRS, US-GAAP, Indian GAAP, SEBI, RBI and other local statutory standards. The application provides native support for producing XBRL documents. The system provides useful Microsoft add-ins and pre-defined templates for tagging notes to accounts, footnotes and formatted content. Following an integrated disclosure management approach eliminates the need for separate investments for regulatory XBRL conversions.

Easy Reconciliation of Consolidated Numbers

Rich Reconciliation reports for consolidated and standalone financials, inter-company transactions, grouping reports etc., help in quickly spotting differences if any and resolving them.

Easy-Reconciliation-of-Consolidated-Numbers

Scenario Analysis

The system allows for creation of unlimited scenarios (Actual, Budget, Forecast etc), with complete flexibility to consolidate across any scenario and compare across multiple periods.

Rich controls for reducing risk

BeyondSquare FMS provides various controls and checks to ensure organizations are confident of their numbers. The authorization module ensures that there is clear demarcat.ion of user roles and responsibilities. The workflow module supports four eye checks, approvals and freezing a report for a given period. Built-in validations highlight various errors. Minority interests and Cash flow statements are automatically generated. With support for formatted text and document attachments, all the information associated with a financial report are easily accessible.

Reporting and Analytics

The Integrated Analytics and Reporting module helps organizations monitor performance across various financial measures to assess organizational performance. The systems allows creation of any number of custom excel reports, so that the organization can continue to automatically generate all the reports that they currently prepare. Financial managers and CFO’s can:
  1. Analyse on key financial ratios
  2. Examine financial performance across multiple periods
  3. Compare financial performance across subsidiaries/branches within the group
  4. Compare the group’s performance against similar companies in the sector
  5. Budget vs Actual analysis
  6. Drill down financials right down to the GL code
Reporting-and-Analytics1 Reporting-and-Analytics

Anytime, Anywhere

BeyondSquare FMS is available on-the cloud, making it instantly available from any location in the world. Companies can also choose to host the software in their own data-centres. Group companies can work seamlessly irrespective of where they are located.

Faster Implementation Cycles

BeyondSquare FMS implementation cycles could be as short as 4-6 weeks, making it one of the fastest consolidation softwares to implement. With the ability to take feeds from any accounting system, there is no need to change any of the underlying transaction systems.