Skip links
  • Who is iOCO?
  • Partners
  • Success Stories
  • Insights

Financial Performance Management

Our tech experts are constantly pushing the boundaries of the industry, asking the important questions and providing thought provoking answers

The business need for on-time delivery of accurate, reliable financial information

More than 50% of enterprises are still using spreadsheets and still struggling with version control issues, formula errors, broken links and limited security. When finance teams spend too much time wrestling spreadsheets and collating information, there’s little time to analyse the data for real business insights.

Let’s change the way your organisation handles financial reporting and budgeting processes.

Consolidations
Budgeting, Forecasting and Reporting
Narrative Reporting

Move your organisation beyond a pure accounting-based approach and budget in line with key business drivers.

Financial Budgeting & Forecasting

Budgets are often outdated long before they’re finalised, which makes them frustrating to work with. Flip the budgeting process from being finance-centric and define an approach that involves all operational staff and reflects the way the business runs.

Users can continue to work in spreadsheets but all data is held on a secure central server that performs as a single source of information and business logic for all reports and templates.

Financial Planning Analytics Solution

The right FPM solution provides a framework that allows for completely customised models that replicate and greatly enhance any budget calculations currently being performed in large Excel spreadsheets.

Users can continue to work in spreadsheets but all data is held on a secure central server that performs as a single source of information and business logic for all reports and templates.

The power to draw up functional, fluid budgets with an intelligent Financial Planning Analytics Solution.

Payroll/HR

  • Budget by employee, salary and other cost to company components
  • Automatically import data from the payroll system
  • Apply an increase at a certain date for all staff, or categories
  • Budget for new employees with unique business rules
  • Budget smarter for employee-related costs like laptops, uniforms
  • Reduce time spent budgeting, increase report accuracy
Financial Planning

IFRS (International Financial Reporting Standards) Statutory Consolidation & Management Reporting

Long days and late nights spent finalising reports – monthly, quarterly, half-yearly, annually – for finance teams is finally a thing of the past.

No more stressing over passing last minute journal entries, cross-checking for accuracy, dealing with multiple currencies and inter-company eliminations.

Consolidations Solution

We take the following approach to your cyber security:

Finance-owned solution that can be operated and expanded internally without specialist skills.

Map trial balances in a once-off exercise and load them against a standard reporting chart of accounts.

Store every piece of information required for annual financial statement preparation and apply automatic consolidation rules.

consolidation

All consolidation rules are configured in an easy-to-use application interface.

Store and consolidate financial and non-financial data, including key ratios, employee numbers and segmental information.

Create control structures that meet different reporting requirements, e.g: monthly management or statutory reporting or geographical reporting to mention a few.

We provide the tools to help your finance team develop and maintain a consistent reporting framework regardless of whether they’re using Excel or another ERP.

Which other Financial Planning tasks will your teams be able to handle with ease?

Multi-currency financial reporting

  • Streamline and automate processes, right down to Foreign Currency Translation Reserve (FCTR) values.
  • Make allowance for different rates for actual, budget, and forecast values, including experimenting with what-if scenarios at different rates.

Take back time and get down to analysing consolidated numbers and making better business decisions without the fear of reporting on incorrect or inaccurate data.

Narrative and External Financial Reporting

Compiling financial statements for external reporting is a compulsory statutory reporting function carried out by highly-skilled, costly resources in the finance team.

Complete reports in less time, with greater accuracy through automation

Skilled finance resources freed from time-consuming, repetitive tasks

Reduce the stress and auditing costs associated with reporting periods

Overcome growth pains as volume of data and regulatory demands increase

Avoid multiple contributors passing files over unsecured channels

With automated processes, finance staff will have the time to analyse data and make real strategic decisions vital for business growth.

When properly tailored, your FPM solution will eliminate the blood, sweat, and tears from business reporting processes.

  • Extremely intuitive to use: Minimal training required on interface.
  • Reduce risk, cost, and data inaccuracies: One version of business truth.
  • Ensure process consistency: Automate manual copy-and-paste processes.
  • Enhance security and control: Compliance and governance is built in.
  • Deploy to all contributors: Reporting requirement-based licensing.
  • Streamline document review: Same document, different access levels.
  • Various output formats: generate high-value documents with XBRL tags.

Contact iOCO today for assistance with your financial performance management

get in touch

Let’s Talk