In the fast-paced world of finance, CPAs, CFOs, and business finance professionals face a constant challenge: managing and consolidating financial data across multiple entities. The complexity of this task can lead to inefficiencies, errors, and increased costs. Telemetry understands these challenges and has developed innovative multi-entity ERP consolidation functionality designed to simplify and automate your financial reporting processes. Meet multi-entity consolidation.
Why Multi-Entity Consolidation Matters
Multi-entity consolidation is crucial for providing a clear, accurate, and comprehensive view of an organization's financial health. Growing businesses often transition or add ERPs as they scale, grow or acquire. Typically, managing these multiple entities within an organization involves navigating complexity that can be overwhelming, especially when relying on brittle manual processes or complicated disparate systems. Instead, finance needs one simple, intuitive, cohesive system that knits together actual results from your ERPs, allows you to customize the rollup, and elegantly incorporates projections.
Introducing Telemetry Finance's ERP Multi-Entity Consolidation Feature
Telemetry's ERP consolidation feature is a game-changer for finance professionals seeking to streamline their processes and enhance the accuracy of their financial reporting. Telemetry has always supported combining ERP, payroll system and forward looking spreadsheet projections. Now, Telemetry brings you ERP consolidation combining the best of these worlds - specialized financial consolidation software blended with your Excel spreadsheets.
Telemetry multi-entity consolidation benefits include:
1. Unified Financial Data
Say goodbye to the inefficiencies of managing multiple systems. Our consolidation feature integrates financial data from all your entities into a single, unified system. This ensures consistent and accurate data across the board, eliminating discrepancies and data silos.
2. Automated Reporting
Manual consolidation is not only time-consuming but also prone to errors. Our ERP solution automates the consolidation process, significantly reducing the time and effort required. Automated workflows ensure that financial statements are accurate and up-to-date, enabling timely decision-making.
3. Real-Time Insights
In today's fast-moving business environment, having real-time access to financial data is crucial. Telemetry Finance’s ERP system provides real-time insights into your consolidated financial position. This allows you to monitor performance, identify trends, and make informed decisions quickly. Furthermore, data discovery is enhanced by showing the atomic data that makes up your numbers, delineated by ERP source.
4. Enhanced Compliance and Security
Managing compliance across multiple entities can be daunting. Our ERP consolidation feature simplifies this by providing standardized processes and controls, streamlining adherence to regulatory requirements. Additionally, a single system enhances data security, reducing the risk of breaches and ensuring that sensitive financial information is protected. Telemetry is Soc2 Type II certified.
5. Scalability and Flexibility
As your organization grows, so does the complexity of your financial operations. Our ERP solution is designed to scale with your business, accommodating new entities seamlessly. This flexibility ensures that your financial reporting processes remain efficient and effective, regardless of your organization's size.
Leveraging Financial Automation and AI with Telemetry
The future of finance lies in automation and artificial intelligence (AI). Telemetry Finance’s ERP consolidation feature works with our artificial intelligence to ensure answers, insights, and analysis remain at your fingertips at all times.
Want to see how Telemetry can help bring your business into the future with AI driven automation?
