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Financial reporting risks all organisations should sit up and take notice of


Any weaknesses in the system controls or IT environment, particularly when it comes to the financial reporting process, brings with it significant risk. Here these risks are inextricably intertwined and what impacts internal stakeholders will inevitably have an impact on external stakeholders, ultimately contributing to building or derailing organisational success and reputation.

From an external perspective, speedy and high-quality financial reporting is a strong indicator of good governance and is viewed favourably by investors. While internally management will always want to know how business strategies are tracking against expectations as soon as possible. A faster close maximises the time available for managers to analyse strategies and possibly alter them.

Here RollupSheets continues to play an invaluable role in mitigating risk and speeding up the financial close and reporting cycle of all of its clients.

RollupSheets to the rescue!

The client:

A leading roads listed construction and materials specialist

The requirement:

Prior to implementing a financial consolidation solution their consolidation team of two people were tasked to consolidate all of the financial information captured on spreadsheets across the Group into one standard financial pack.

The risks:

  • Human error
  • Distribution and standardisation
  • Security and real-time monitoring

The solution: RollupSheets

  • Simplicity
    The simplicity of RollupSheets means that there has been a dramatic uptake of users involved in the financial consolidation process, leaving management confident that financial reporting will go full steam ahead regardless of whether the financial consolidation ‘experts’ are around or not.

  • Accurate real-time financial reporting information
    Management can now rest assured that their financial reporting information is accurate, consistent and secure. Decision making can be done timeously and with conviction ensuring this listed entity is well on track to achieving its strategic goals going forward.

  • A supplementary system that saves time and money
    As a supplementary software solution it is both cost effective and time saving requiring very little change management and thereby training. Being self-maintainable there are no hidden maintenance costs.

  • A simple ‘lock-down’ function
    Through supplementing the source systems throughout the Group, RollupSheets was able to standardise the necessary financial reporting information in a way that was both controlled, through a ‘lock down’ function, and easily accessible to the necessary staff and management regardless of their location. In addition management are now well aware of what is complete or outstanding and can address this accordingly.

With RollupSheets all organisations can simplify the way they consolidate with a bottom line that makes sense!

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