Addedo’s CPM – Office of Finance Solution (COFS) offers an integrated application suite for the Office of Finance to support the consolidation, reporting and forecasting processes with ready to use pre-defined templates. This integrated market leading suite enables the corporate Office of Finance to manage the entire cycle from forecasting, reporting consolidation and closing. With speed, quality and accuracy while remaining the owner of the process.
In times of economic stagnation, business managers need to be certain about how they use their resources in order to generate return and ensure survival. Therefore it is critical for managers to invest some time in financial performance management.
Financial consolidation and reporting is one of fundamental components to managing financial performance management. It enables enterprise view of financial information providing insight and serving as an alert system to variance from plan. Group Executive management uses this information to understand its performance as well as to run its business.
However the challenges facing organizations to collect, process and disseminate validated and trusted financial information are putting high pressure on people and organizations.
To meet these challenges Addedo offers CPM – Office of Finance Solution (COFS), an integrated application suite for the Office of Finance to support the consolidation, reporting and forecasting processes with ready to use pre-defined templates. This integrated market leading suite enables the corporate Office of Finance to manage the entire cycle from forecasting, reporting consolidation and closing. With speed, quality and accuracy while remaining the owner of the process.
The solution, together with Addedo’s implementation methodology and best practices leverages the existing investments by coupling with infrastructures such as SAP BW, Microsoft Office and Sharepoint or existing Databases. COFS is a modular and scalable solution. Start with just one model and extend additional functionality as needed
Especially the integration of business KPIs on market or transaction information together with consolidated and planned data enables business users to create reports and dashboards, together with performing analysis possibilities for the group management.
Once the year end closing is done the solution will automatically transfer the consolidated figures to the Annual Report. The Annual Reports can be produced without involvement of a design agency and is therefore very cost efficient.
Benefits of COFS:
- Align business owners to strategic objectives by sharing information with the appropriate level of security
- Reduce the cost and time of the close and reporting process
- Increase the level of confidence in the information provided to the shareholders
- Enable Analysis using Microsoft Excel on Financial and Non-Financial data
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We were looking for a solution from a well established supplier, at a reasonable price, with a rapid and smooth implementation. Addedo, with its focus on IBM Cognos mid-market solutions, delivered all of these.
-Lars Hedenborg, CFO, Emotron