It seems like every enterprise resource planning (ERP) vendor aims to provide its own financial consolidation software. However, many customers have been disappointed. So why is it so hard for an ERP vendor to deliver the necessary financial consolidation functionality inside the ERP system itself?

Here are some reasons why financial consolidation ERPs have its limitations:

• The inability to handle various chart of accounts
• The inability of consolidating across subsidiaries with various fiscal calendars
• Weak currency conversion functionality
• Weak auto-elimination functionality
• Weak financial reporting to produce the consolidated reports
• Lack of dynamic pro-forma consolidations

It would be a controller’s dream if the ERP system were able to perform the list above successfully.

Microsoft Dynamics 365 ERP

But what about the Microsoft’s Dynamics 365 Finance and Operations (D365 FO) ERP system?

While it clearly can be considered one of the top cloud solutions on the market today- alongside SAP, Oracle and Workday- customers with great consolidations and financial reporting needs, often end up in Excel.

While there are many ERP consolidation features in D365 FO, it is not uncommon that customers add on a “best-of-breed” corporate performance management (CPM) solution to streamline their financial consolidation and reporting software.

Modern cloud-based CPM solutions

Solver is an example of a CPM solution that comes with several added advantages for Microsoft customers. Some benefits include

• Solution is cloud-based Azure like D365 FO
• Its configurable to D365’s general ledger as well as sub-ledgers
• It has a pre-built connector to Power BI for visualization
• Excel add-in for flexibility and familiarity

If you want to read more about financial consolidations for Dynamics 365 Finance and Operations and learn more about the benefits of Solver CPM for financial consolidation, click here.

March 11, 2020 by Solver Global

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Tags: CPM Solution, D365 FO, D365 FO INTEGRATION, dashboard, DYNAMICS 365 FINANCE AND OPERATIONS, ERP Vendor, financial consolidations, Financial Reporting, KPI ANALYSIS, Power BI, profit and loss
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