5 Benefits to Automating your Financial Consolidation Process

Frustrated with your financial consolidation process? You’re not alone.

Inconsistent data, confusion with approval process, and lack of adaptability are all too familiar pain points when trying to get through a consolidation, without a properly implemented financial process in place. Little time is left for analysis, and much is left up to chance.

Automating your consolidation process will allow you and your team to deliver faster, more reliable consolidations, moving beyond mere reporting into the analysis of ‘how’ and ‘why’.

Benefits to automating your consolidation process:

  • Ability to centralize consolidations with easy data collection from subsidiaries
  • Ease with managing and integrating cross-enterprise information
  • Benefit from shorten cycle time required to consolidate, validate, and certify financials
  • Capacity to audit and track data flow throughout the consolidation process
  • Ability to provide a single version of the truth, with a common chart-of-accounts, to support financial management and statutory reporting

To learn more about how you can automate the entire process, from data collection to financial consolidation, view the Prophix Consolidations Product Tour.


Your business is evolving. And the way you plan and report on your business should evolve too. Prophix helps mid-market companies achieve their goals more successfully with innovative, cloud-based Corporate Performance Management (CPM) software. With Prophix, finance leaders improve profitability and minimize risk by automating budgeting, forecasting and reporting and puts the focus back on what matters most – uncovering business opportunities. Prophix supports your future with AI innovation that flexes to meet your strategic realities, today and tomorrow. Over 1,500 global companies rely on Prophix to transform the way they work.