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Sunday, May 27, 2007

Rolling Up the Numbers with Consolidation Software

Companies mitigate risk by diversifying their structures and their lines of business.  This diversification however can make rolling up the numbers time-consuming, cumbersome and prone to human mistakes and errors.  Businesses around the world are working to wean themselves off of their addiction to Microsoft Excel and spreadsheet programs.  For almost 3 decades now many companies have been relying on spreadsheet software to take results from multiple lines of business and consolidate those results in to one big picture answer of what's going on with the financials.

There are many different approaches to providing better solutions that automate this process speed things up and reduce the amount of human error or manual work required by employees of companies.  As an example, Prophix provides consolidation software that enables companies to tie their systems into a solution that can help consolidate the books into one set of financials.  Doing this in a timely and accurate manner is extremely important not only to provide the financial numbers to the investing public but to provide business leaders with the accurate knowledge of what's going on in the business so that they can make better decisions and guide their company towards profitability and success.