Intercompany reconciliation is often cited as one of the most significant barriers to a fast and accurate financial close process. Cartesis Intercompany, the world’s leading peer-to-peer intercompany reconciliation software application, enables business units to reconcile intercompany balances in real time via the Web and allows corporations to close faster. It provides the tools for business units to debate and reconcile balances directly with one another, eliminating extra work and delays at the corporate and divisional levels. This removes intercompany reconciliation from the critical path, both improving the speed and accuracy of the financial closing process. Using Cartesis Intercompany Reconciliation software, companies achieve rapid return on investment (ROI), up to 60% improvement in the accuracy of intercompany transactions and save on average 15 man-days in reporting cycles.

• Speed and Accuracy in the Financial Close
• Greater Control, Lower Cost
• Integration, Performance and Security

Web-based peer-to-peer intercompany reconciliation

The lateral flow of information between the reporting units involved in the original intercompany transactions ensures faster agreements, thus easing the burden on corporate finance and eliminating days from the time-consuming closing process.

Real-time reconciliation views

A Web-based system manages all reconciliation data submitted to the central server delivering a real-time overview of the intercompany reconciliation process as well as adherence to deadlines, corporate policy and timelines, regardless of the reporting unit’s location or time zone.

Full audit trail and financial reporting

Cartesis Intercompany software solutions offers a complete audit trail, highly sophisticated status tracking, e-mail summaries and alerts on significant events, as well as a comprehensive set of reconciliation reports which allow individual reporting units as well as corporate headquarters to fully automate and follow their global intercompany process.

Full financial close process monitoring

This feature allows corporate or divisional headquarters to continuously monitor the collaborative matching process using centrally defined exchange rates and materiality levels, dedicated reconciliation views delivering at-a-glance status of the global reconciliation process as well as end-of-cycle freezing to prevent users from making additional changes.

Centralized data maintenance

A centralized Web deployment guarantees rapid intercompany reconciliation solution implementation, ease of control and ease of maintenance which, combined with a highly intuitive user experience, drives down total cost of ownership to further increase user acceptance and ROI.

Integration, Performance and Security

Cartesis Intercompany offloads the reconciliation burden and positively impacts the financial consolidation process by allowing for centralized management of companies, accounts and currencies to ensure they are always updated, taking into account any changes occurring in the source or consolidation system.

Ability to push adjustments back to source system

Adjustments made to balances can be stored and used to create journals to update source systems ensuring consistency between source, reconciliation and consolidation systems.

Robust security, performance and scalability

Cartesis Intercompany provides centrally managed and easily configured access rights and is compatible with existing security infrastructure investments such as firewalls, PKI, SSL and VPNs. It also leverages Microsoft .NET and RDBMS support for Oracle and Microsoft SQL Server for improved scalability and performance.