Consolidating erp systems
Companies must share a basic skeleton Chart of Accounts to be consolidated.
Consolidation occurs by the automatic, one-click posting of summary Journal Entries in the consolidating group company, reflecting the activity of the company to consolidate for every period.
When all the reporting is being done with real time data, the need for using Excel as a dumping ground will greatly diminish.
Who will want to use stale data for reporting anymore?
Group companies can consolidate further, and consolidate with individual companies as well, to form larger groups.
Companies can be organized in hierarchical groups, like local companies into regional companies, then regionals into nationwide, and so on, with no limits on the number of levels of consolidation.
Enterprise resource planning (ERP) is the integrated management of main business processes, often in real-time and mediated by software and technology.
ERP is usually referred to as a category of business management software — typically a suite of integrated applications—that an organization can use to collect, store, manage, and interpret data from these many business activities.
In companies with an international presence, it is almost inevitable.
With M&A as a growth strategy in today's market, every CIO is faced with a dilemma with every new acquisition: This should not be a shocker, Option 3 is where almost everyone starts... Whether Excel is the most dangerous software on the planet is debatable (link to the Forbes article), but once entrenched, it takes a herculean effort to move people away from it.
While providing a quick path to collecting information, this option quickly transforms itself into a maintenance hegemony, riddled with pools, and sometimes oceans of untrustworthy data. The Enterprise Data Warehouse (EDW), the Option 2, seems at that point a logical second option.
If you peel the onion of the business case for any ERP consolidation, you will come across various layers of needs and wants from IT and business, but at the core, it is always the need to access a consolidated set of data, which is trustworthy and always available for decision making.
When you are able to achieve this in a very non-disruptive manner, in a cloud environment, with minimal IT oversight, the approach of combining Saa S, Paa S and Big Data solutions will always be the winner.