Fast and Reliable Consolidation and Close

Consolidation, Close and Reporting That's Faster and More Reliable

Transform how you consolidate and close your books using finance solutions that support your profitability analysis process. Strafford has the consulting and advisory expertise to help you improve the speed and accuracy of all aspects of your financial reporting process.

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The Best Consolidation and Reporting Solution Providers

Oracle Platinum Partner
SAP

Some Happy Customers

 
Industry: Oil and Gas Supplier
Solution: Oracle FDMEE and HFM
By upgrading Parkland's manual-intensive data loading and metadata management system, Strafford helped improve finance efficiency, confidence in data, and gave them the ability to scale and grow with their business.
Sunrise Medical
Industry: Manufacturing
Solution: Oracle HFM
When its outdated financial reporting software was unable to meet their needs, Sunrise chose Strafford to implement a tailored version of HFM. Today they can quickly process ad-hoc queries, handle currency conversion and perform better financial reporting.

At Strafford, we provide our clients with powerful tools that help address the increasing complexity of financial consolidation, close and reporting. Our solutions provide increased ease of use, better access to data, improved data and process management, and reduced cycle times for a faster, more compliant close.

We are committed to helping our clients answer basic financial questions such as:

  • Is our business making a profit or suffering a loss, and how much?
  • How do our assets stack up against liabilities?
  • Where did our business get its capital, and is it making good use of the money?
  • What's the cash flow from the profit or loss for the period?
  • Did your business reinvest all its profit?
  • Does your business have enough capital for future growth?

Consolidated financial statements should present an aggregated look at the financial position of a parent and its subsidiaries. They enable you to gauge the overall health of an entire group of companies as opposed to one company's standalone position. We give our clients the customized environment and knowledge they need to make the right financial decisions.

The consolidation and close challenges we help our clients overcome include:

No Commonality In Account Structure

Multiple Currency Translations

  • Different Translation Rates
  • Unpredictable Currency Translation Implications

Slow Consolidation Closing Cycles

  • The Right Finance Technology, People and Process
  • Automating Common Consolidation, Close and Reporting Steps
  • Unresolved Intercompany Eliminations
  • Creating a General Ledger Audit Trail

Unresolved Intercompany Eliminations

  • Manual Corrections
  • Extended Account Reconciliation Efforts

Lack of Visibility Into Legal Entity or Sub Consolidations

No Established Hierarchy Structure for Accounts or Entities

  • Use of Multiple Spreadsheets for Consolidation
  • Inability to Adapt to Securities and Exchange Commission (SEC)/Agency Requirements 

We will help you transform how you consolidate and close your books using finance solutions, such as Hyperion HFM, that support your profitability goals. Strafford has the consulting and advisory experience to help improve the speed and accuracy of all aspects of the financial reporting, including consolidation and close, and planning and budgeting.

Strafford Customer Success

It was a relief to deal with a company that was really on top of things. They knew what they were doing and could speak to what they were going to do.

~ Bret, Senior Management Reporting Analyst, AmericanWest Bank

Are your Oracle HFM applications up to date?

Oracle Hyperion Financial Management 11.1.2.4 is a financial consolidation and reporting application built with advanced Web technology and designed to be used and maintained by the finance team. It provides financial managers the ability to rapidly consolidate and report financial results, meet global regulatory requirements, reduce the cost of compliance and deliver confidence in the numbers. With Oracle FCCS, you get the features of Oracle HFM and a complete end-to-end solution that gives you and your team visibility into the entire close, consolidation and reporting process.

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From Our Blog

The Financial Reporting Challenges We Help Our Clients Overcome:

Standardization and Consistency In Data

  • Multiple Financial Statement Hierarchy Definitions
  • Shifting from Excel to Automated Data Collection 
  • Time Consuming Manual Efforts to Prepare Useful Results

Flexibility and Adaptability

  • Inability to Add or Modify Financial Data Structures
  • High Cost to Update and Maintain Systems

Transparency and Visibility

Repurposing of Financial Data

  • Multiple Versions of the Truth
  • Disparate and Non-integrated Financial Reporting

Global Applicability

  • Meeting Regulatory Requirements
  • Different Regions, Different Requirements
  • No Universal or Common Unit for Rollup and Reporting
  • Inability to Adapt to Securities and Exchange Commission (SEC) / Agency Requirements 

Strafford focuses on improving our client’s finance ecosystem by looking at what they are doing today, what their current challenges are. Our approach is to work together and give our clients the tools and knowledge they need to improve performance, increase end-user adoption, and scale. The Strafford team knows finance and we know technology, and we'll deliver your project on-time and on-budget.

Financial Management Software Solutions

Oracle Hyperion Financial Management (HFM)

We are dedicated to Oracle Cloud and Hyperion Financial Management (HFM) users and offer strategic advisory, consulting, cloud hosting and EPM support services. Our goal is to help you improve the performance and reliability of your finance applications, and to enhance team productivity during month end close, consolidation and reporting cycles. The time has come for you to focus on finance, not your finance systems.

Move HFM Software to the CloudNeed a faster, more efficient consolidation and reporting process?
Want to increase end-user adoption?

Build for the future.

We've got 10 Reasons to Move Your Oracle Hyperion Financial Management (HFM) Apps to the Cloud.

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How can Strafford help you? If your Oracle Hyperion Financial Management (HFM) applications are outdated or if you are looking for a better way to do finance, Strafford can help upgrade and/or move your existing HFM applications to the cloud – Oracle FCCS or another managed service solution.

Explore Your Options

Oracle FCCS 

Are you suffering from spreadsheet overload? Are you looking to automate routine tasks? Consider a move to Oracle Financial Consolidation and Close Cloud Service (FCCS). Oracle FCCS will help you accelerate your planning and budgeting cycles, reduce your reliance on Excel, and will improve team collaboration.

How can Strafford help you? Strafford can help you with a front-to-back implementation of Oracle FCCS. Our team of certified finance and technology consultants will help you modernize your finance environment so that you can consolidate, close and report financial results with confidence. A move to Oracle FCCS will deliver best-of-breed finance functionality and less reliance on IT or other 3rd party services. What's more it enables organizations of any size to quickly adopt world-class financial reporting applications with no CAPEX infrastructure investments . Schedule a 15-minute chat >

If you are a Hyperion HFM or SAP user who is looking to upgrade migrate finance solutions to the cloud, we can help you with:

 

GET A FREE CONSULTATION

We'd welcome the opportunity of understanding what you are doing today and what your current challenges are. Perhaps we can help. Please complete the form below and one of our finance consultants will contact you.