Makeen Financial Consolidation.
Simplify accounting for multi-entity businesses.
What is Makeen Financial Consolidation?
Makeen Planning and Budgeting provides an integrated system that streamlines the laborious tasks associated with planning and budgeting. This enables finance teams to swiftly generate budgets and forecasts, simulate hypothetical scenarios, and create reports, all within a unified and adaptable platform. By reducing the need for manual consolidation, problem-solving, reporting, and data input, the finance staff can redirect their efforts from routine data management and formula upkeep towards more impactful strategic analysis activities, ultimately enhancing the company’s financial standing.
- Centralized Oversight: Makeen's platform enables centralized oversight of accounting processes, data, and reporting. This means that all financial activities across various parts of the organization can be monitored and managed from a single platform.
- Real-time Visibility: Real-time Visibility: The solution offers unparalleled real-time visibility into financial data. This means that stakeholders can access up-to-date information at any given moment, facilitating informed decision-making.
- Consistent Management: With Makeen, organizations can achieve more consistent management practices. This ensures that financial processes and reporting standards are uniform across the entire organization.
- Accelerated Close Process: The automated consolidation feature streamlines the close process. This means that organizations can complete their financial reporting and closing activities more efficiently, potentially saving time and resources.
- Compliance Assurance: Makeen helps ensure compliance with relevant accounting standards and regulations. This is crucial for maintaining the integrity of financial reporting and avoiding potential legal or regulatory issues.
- Standardized Policies and Approval Hierarchies: By implementing standardized policies and approval hierarchies, Makeen helps organizations establish clear procedures for financial operations. This not only increases control over financial processes but also reduces the risk of financial fraud.
- Cost Savings: Standardized policies and automated consolidations can lead to cost savings. By streamlining processes and reducing the likelihood of errors or fraud, organizations can potentially save money in the long run.
Make Financial Consolidation Easy
Automatically posting every transaction at subsidiary and parent levels simultaneously keeps financial data synchronized within a shared database for faster consolidation with less effort.
Makeen Financial Consolidation Features
Makeen is a powerful ERP system that can help multi-entity businesses to improve their efficiency, visibility, and scalability.
Consolidation
The sophisticated accounting features of Makeen, encompassing multiple entities and books, along with the integration of live data, streamline the process of consolidating and presenting financial information. Makeen integrates a communal database with the flexibility to generate tailored charts of accounts specific to each subsidiary, guaranteeing that local transactions are promptly and accurately reflected in the corresponding parent account. This obviates the necessity for data standardization and reconciliation, leading to more precise and punctual consolidated reports
Intercompany Accounting
Streamlined intercompany accounting streamlines the process of reconciling and eliminating intercompany transactions, thereby enhancing efficiency and minimizing the likelihood of mistakes.
Consolidation
The sophisticated accounting features of Makeen, encompassing multiple entities and books, along with the integration of live data, streamline the process of consolidating and presenting financial information. Makeen integrates a communal database with the flexibility to generate tailored charts of accounts specific to each subsidiary, guaranteeing that local transactions are promptly and accurately reflected in the corresponding parent account. This obviates the necessity for data standardization and reconciliation, leading to more precise and punctual consolidated reports