The Top 7 Challenges Businesses Face Today and How You Can Solve Them
BOARD allows you to combine the planning and budgeting route with forecasting, reporting, and consolidating – efficiently supporting performances with corporate planning vision. BOARD’s multi-dimensional planning abilities provide workflow, security, audit trails, and versioning instruments, enhancing the controllability and efficacy of the whole process.
An Overview of BOARD
Additionally, BOARD’s financial consolidation capabilities address the challenges that organizations face today with intercompany reconciliations, consolidation adjustments, and group reporting. Easily merge data from distinct locations and across numerous general ledgers, while performing multi-currency conversions and eliminating time consuming spreadsheet-based processes.
BOARD Toolkit Application Overview
BOARD allows the formation and management of situations while engaging multi-dimensional simulations, where the impact of future events is automatically spread to every level of data aggregation. A Workflow Control Panel makes monitoring and managing the consolidation process across the whole organization easy, while highlighting the operations status and certifying internal controls.
Some more features of BOARD include:
- Formation and comparison of unlimited scenarios (Actual, Budget, Forecast, etc)
- Multi-level consolidation of complex group structures, automating the following:
- Currency conversions
- Intercompany transactions (payables, receivables)
- Intercompany elimination
- Calculations of changes in consolidation scope
- Complete management of workflow, audit trail, versioning, scenarios, and approval status processes
- Automatic allocation of changes, modifying data at all levels of aggregation
- Automatic distribution of changes to the finest level of details
- Real-time impact assessments
- Excel add-in with off-line data entry functionality
- Rolling forecasting and budgeting
- Write-back capabilities, saving budget data to the company’s databases