Host Consolidation

A consolidation system to achieve one complete view of your company

Host Analytics Consolidation accelerates and automates your financial close, compliance, and reporting processes. Connect data from multiple systems in your organization. Whether your company has more than one general ledger, plans to acquire another company, leverages global currencies, or is preparing for an external audit, you can benefit from a consolidation system. Host Consolidation is simple and affordable while ensuring security, accuracy, and confidence in your final financial results.

 

Host Consolidation Key Advantages

Reduce your average time to close up to 75% with automated processes, workflow management, and greater transparency
Consolidate complex corporate structures with a single click
Automate intercompany eliminations, journal entries, reclassifications, partial ownership calculations, currency conversions, CTA impacts, and financial consolidation
Lower the risk and cost of compliance audits with built-in internal controls
Streamline the budgeting and planning process by starting with the consolidated results, all in the same platform
Enjoy a faster, more accurate close and financial consolidation process

Key Features

Out-of-the-box journal entries and reclassifications

Post journal entries and process account reclassifications with built-in financial logic that automatically accounts for debits and credits, MTD and YTD balances, currency types, and assets, liabilities, revenues, and expense account properties. Since journal entries and reclassifications come out of the box, you don’t need to know any complex coding or depend on expensive consultants to automate your monthly consolidation process.

Built-in Workflow

Know where you are in the close process at all times with Workflow. Located in the Consolidation Control Panel, Workflow provides a visual snapshot of who and what work is completed, and what work is yet to be done. See which entities have submitted and validated trial balances, completed intercompany eliminations, and processed their consolidations.

A single chart of accounts that supports complex corporate structures

Automate all of your critical close activities from multiple ERP systems in Host Analytics. With Host Analytics’ Consolidation system, you can map all your entities to a single chart of accounts for consistent global reporting across the entire organization.

Flexible financial reporting

Report financial results using alternate hierarchies or org-by-period hierarchies so that you can see and validate business performance in the views that are meaningful to your business leaders. Customize fiscal year end dates based on how and when you close the books.

Built-In GAAP and IFRS support

All activities, workflows, and statutory financial statements conform to the latest global accounting standards. Built-in and configurable layouts for Balance Sheets, Income Statements, Statements of Cash Flows, and other common and required reports make it easy to create, approve, and publish standardized reports. Publish reports in EDGAR-compliant HTML and XBRL formats for regulatory reporting.

Currency conversion

Consolidate, translate, and report foreign currency in accordance with the latest standards and leverage foreign currency rate data feeds for up to the minute accuracy. Incorporate currency exceptions with a single click to account for the nuances of your transactions. Review foreign exchange rates and then let the platform do all the heavy lifting of calculating currency conversion and CTA, automatically.

On-demand or automatic data refresh

Quickly load summary balance or transaction-level data directly from any general ledger, ERP, or other business system via the Data Load Wizard. Take your process to the next level by automating the data connections from your ERP and other source systems directly to Host so that your data is always current.

Security, audit trails, and internal controls

Strong internal controls and security ensure that only authorized users can access designated areas. Audit logs and reports are searchable and provide transparency into what adjustments were made and by whom.

Interactive and standard reports presentation quality financial & management reports

Select from standard reporting templates or create your own through Dynamic Reports. All reports can be professionally formatted for a polished look. Reports provide deep visibility into the data with click-through drill down or “slice and dice” capabilities. Automate and schedule the production and distribution of recurring month-end financial reports so that your team doesn’t spend days copying and pasting data into the same reports every month. Publish data into MS PowerPoint or Word via a live link to the Host Platform, and refresh the most current data with a click of a button – no cutting or pasting required.

Out-of-the-box journal entries and reclassifications

Post journal entries and process account reclassifications with built-in financial logic that automatically accounts for debits and credits, MTD and YTD balances, currency types, and assets, liabilities, revenues, and expense account properties. Since journal entries and reclassifications come out of the box, you don’t need to know any complex coding or depend on expensive consultants to automate your monthly consolidation process.

Built-in Workflow

Know where you are in the close process at all times with Workflow. Located in the Consolidation Control Panel, Workflow provides a visual snapshot of who and what work is completed, and what work is yet to be done. See which entities have submitted and validated trial balances, completed intercompany eliminations, and processed their consolidations.

A single chart of accounts that supports complex corporate structures

Automate all of your critical close activities from multiple ERP systems in Host Analytics. With Host Analytics’ Consolidation system, you can map all your entities to a single chart of accounts for consistent global reporting across the entire organization.

Flexible financial reporting

Report financial results using alternate hierarchies or org-by-period hierarchies so that you can see and validate business performance in the views that are meaningful to your business leaders. Customize fiscal year end dates based on how and when you close the books.

Built-In GAAP and IFRS support

All activities, workflows, and statutory financial statements conform to the latest global accounting standards. Built-in and configurable layouts for Balance Sheets, Income Statements, Statements of Cash Flows, and other common and required reports make it easy to create, approve, and publish standardized reports. Publish reports in EDGAR-compliant HTML and XBRL formats for regulatory reporting.

Currency conversion

Consolidate, translate, and report foreign currency in accordance with the latest standards and leverage foreign currency rate data feeds for up to the minute accuracy. Incorporate currency exceptions with a single click to account for the nuances of your transactions. Review foreign exchange rates and then let the platform do all the heavy lifting of calculating currency conversion and CTA, automatically.

On-demand or automatic data refresh

Quickly load summary balance or transaction-level data directly from any general ledger, ERP, or other business system via the Data Load Wizard. Take your process to the next level by automating the data connections from your ERP and other source systems directly to Host so that your data is always current.

Security, audit trails, and internal controls

Strong internal controls and security ensure that only authorized users can access designated areas. Audit logs and reports are searchable and provide transparency into what adjustments were made and by whom.

Interactive and standard reports presentation quality financial & management reports

Select from standard reporting templates or create your own through Dynamic Reports. All reports can be professionally formatted for a polished look. Reports provide deep visibility into the data with click-through drill down or “slice and dice” capabilities. Automate and schedule the production and distribution of recurring month-end financial reports so that your team doesn’t spend days copying and pasting data into the same reports every month. Publish data into MS PowerPoint or Word via a live link to the Host Platform, and refresh the most current data with a click of a button – no cutting or pasting required.