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InterWeb, to facilitate intercompany matching process

InterWeb

Improve your Fast Close

In every organization, the intercompany matching process is a time-consuming and unproductive task.
Statistical reviews show that this process is the 3rd source of delay during consolidation and audit periods after data entry and communication. This delay increases exponentially with the number of entities.
InterWeb allows each entity to perform the interco matching directly with its peers, in real time. Thus, each entity is responsible for the adequacy of the results. The figures are  matched before the consolidation process.

A decentralized intercompany reconciliation process, in real time

InterWeb dramatically reduces the delays as it makes each subsidiary able to perform their own intercomatchings:
  • in real time, 24h/24, no matter what the geographical location
  • at any time for each individual company, within a given closing period
  • with one specific company, with a set of selected companies or subgroup, or with the whole group
  • at any level of data for each company down to invoice or transaction level
  • independently, with no intervention from the consolidator
  • interco matching is performed by the  parent company, based upon the information gathered within the subsidiaries. The data is analyzed and the differences are forwarded to the entities that are requested to provide explanation or updates.

 

 

With InterWeb, the task of each stakeholder is easier

For the group

  • Accelerates the consolidation and audit processes
  • Improves information accuracy and transparency
  • High level of security, with centralized monitoring of access rights

For the consolidator

  • Avoids the whole iterative process with the subsidiary, by sending information back and waiting for answers
  • Allows you to run the intercompany matching independently from the consolidation schedule
  • Allows you to control the whole process and the status of reconciliation achieved at any time
  • Enables quick implementation thanks to powerful interfaces with accounting systems
  • Generates adjustments for the consolidation system

For the local entity

  • Do away with the collection of intercompany account information, thanks to the automated feed from the accounting system
    Allows more responsibility and autonomy
    Analysis is faster thanks to a more frequent process
    Improves communication by inserting comments and explanations of differences
    Facilitates ticking off of matched transactions by automatic posting
Experience shows that Sigma InterWeb brings you a high and direct return on investment after only a few months.

If you choose the SaaS mode, you even do away with the need for IT infrastructure and benefit from an up and running application immediately.

Contact us for more information!