Sage X3 Financial Consolidations for Manufacturing and Distribution

Some Sage X3 customers have the challenge of consolidating multiple manufacturing and distribution subsidiary’s and multiple currencies into one parent organization financials. The importance of ever growing data in the decision making process is extremely important to stay on top of business goals and having the tools to consolidate and analyze the data as a single set is business critical. Below NexTec Group lays out your Sage X3 financial consolidation options for user friendly, sleek and dynamic financials. Leveraging a powerful, flexible consolidation and reporting tool for Sage X3 will help streamline processes for your growing manufacturing and distribution company. You can combine subsidiary transactional GL Data into one set of financial statements for a parent company with consolidations. The reports included are Profit & Loss, Balance Sheet, and Cash Flow reports, including all of the subsidiary data that explains the overall health of the parent organization. Currency conversion for multiple monies, along with transactional eliminations between subsidiaries and any other adjustments that have to be manually performed without modern functionality are also required. There are many drivers that will push manufacturing or distribution organization to seek today’s best software, but let’s focus on two of the primary motivators.

1. Existing product is old. Most older tools are too simple to meet today’s business demands, like manual Excel spreadsheets.
2. Mature software tends to be more complex and laborsome for for management to utilize, like Cognos or Hyperion.

Regardless of industry, Sage X3 users that are responsible for consolidating multi-national companies usually perform a regular set of tasks. Some have to routinely convert currencies and manually adjust month-end consolidations for national and international standards, like the International Financial Reporting Standards (IFRS) to Generally Accepted Accounting Principles adjustments (GAAP), otherwise known as IFRS to GAAP. NexTec Group has worked with those who require deeper analytics with sub-ledger information and/or need a solution that is part of a complete suite of Business Intelligence (BI) tools, fully integrated with applications for ad-hoc reporting, dashboards, budgeting, and data storage. Next: how to select the best tool for your manufacturing or distribution organization.

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