Close the period faster, and explain it better.
Financial and management reporting share one cycle and one deadline. Most of the effort is consolidation and reconciliation; most of the value is in the explanation. Datox automates the first so there is time for the second.
A close and reporting run
Collect
Ledger extracts, sub-ledger detail and operational data are ingested from every entity and system in scope.
Consolidate
Chart of accounts mapping, currency conversion and period alignment produce one consolidated view.
Reconcile & validate
Control totals, intercompany balances and prior-period movements are checked, with variances raised as exceptions.
Explain
Reviewers work the variance list with supporting detail attached and record commentary against each item.
Produce
The management pack, supporting schedules and datasets are generated from the approved figures.
Start from the exceptions, not from the whole pack
Automated comparison against budget, forecast and prior period turns variance analysis into a prioritised list rather than a manual scan of every line.
How variances are handled
- Thresholds define what is material enough to require explanation.
- Each variance links through to the underlying transactions or records.
- Prior-period commentary is available when writing the current one.
- Explanations are retained as part of the period's record.