Optimize the Reporting Cycle
Executives need to manage their finances across the enterprise and react quickly to changes. LightStream’s performance management team can help the CFO office with a flexible framework for Planning & Forecasting, Financial Consolidation, Strategic Planning, and Financial Reporting. We help you shorten your financial reporting timeline and let staff focus on analysis rather than spreadsheet budgeting and consolidation.
Business Planning & Forecasting
LightStream helps clients choose, develop, and deploy planning & forecasting systems throughout their organization. Centralized financial planning systems will reduce the annual & monthly budgeting, and forecasting cycles by weeks, and in some cases even months. EPM solutions give the finance office a common platform for users to submit their numbers, run what-if scenarios, and manage approvals and revisions. Ultimately, it improves the accuracy of plans and forecasts and tightens compliance with an auditable central solution.
We can help build financial consolidation systems which automate the entity consolidation process. Enterprise consolidation systems can automate intercompany eliminations, currency translations, rules based journal entries and standardized reporting. We use pre-configured models which meets global reporting standards such as IFRS and GAAP. This reduces manual error, shortens reporting cycles, and reduces compliance costs.
LightStream helps clients move one step further in their financial planning by integrating financial modelling in strategic planning. This can improve productivity and reduced operational risk by allowing finance executives to model various scenarios and evaluate long term impacts on financial performance.
In all performance management systems, the common end result is reports. Financial reports are required for both management and legal views and we can automate the report creation from a single financial repository. All reports are highly formatted and compliant to IFRS & GAAP requirements. Reports can be generated on schedule and distributed in a variety of formats. Finance users also have the ability to create quick custom, ad-hoc, management reports when required.