No connectors, no ETL pipelines, no weeks of setup. Each subsidiary uploads the trial balance and financial report it already produces, and the close can start the moment they arrive. Mappings are algorithm-assisted and generated on the fly. The group structure is not a manually entered percentage but derived state, replayed from corporate actions.
A group of ten companies may comprise ten reporting languages, ten accounting systems, ten charts of accounts, ten local frameworks — even ten different accountants. Investors, auditors and lenders will not take ten separate answers to the same question. They want one set of figures that reports the group as one business.
Getting there isn't as simple as adding up columns in Excel. Each entity's reporting reflects the nature of its own operations, and that need not be the same across the group. A common reporting structure still has to map hundreds of individual accounts, the group structure has to account for control held through complex holdings, and a series of technical consolidation journals has to be processed.
The Finpar approach is to build a universal, algorithm-assisted process that works directly with the existing system outputs across the group.
A close brings together group accountants, CFOs and outside advisors — and it runs on confidential information. General-purpose communication and file-storage tools carry no notion of who may see what. Finpar manages the close as a project under a single permissions framework: membership, shared documents, invitations and calls are all governed by the same access rules.
Every group already maintains a record of its corporate actions — incorporations, share issues, buy-backs, acquisitions and disposals, and potential shares under ESOPs or performance conditions. Finpar derives the group structure directly from that record, rather than asking accountants to enter voting and economic interests at each level of the group. Manual entry is inherently error-prone: no single entity accountant holds the complete picture, and an interest that appears to be an associate at entity level may in fact be consolidated once holdings elsewhere in the group are taken into account.
An algorithm-assisted approach enables rapid and accurate data ingestion. Much of the consolidation work is matching general ledger accounts to entity and group reporting lines — no trivial task: trial balance formats do not consistently encode debit and credit balances, ledger structures vary and may include non-contiguous data, metadata is not readily available, and a trial balance spans hundreds if not thousands of lines and may differ from period to period.
One approach is to build implementation pipelines that map accounts to reporting lines up front. Finpar instead generates the mapping algorithmically, period by period, from the documents themselves.
The subtree is marked, extracted with amounts on the nodes, then handed across: a blank register slides in and the nodes, edges and amounts take their places as rows.
We just read it. If you prepare consolidated accounts and any of this sounds like a problem you recognise, we'd like to hear from you.
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