Group Currency Changes

Group Currency Changes

Our team of Product Specialists have worked with several companies to assist them in changing their Group Reporting Currency. This need can arise when a multinational group moves from filing numbers to a European stock market and reporting GBP or EUR numbers, to reporting on a US stock market and needing to deliver USD group numbers.

We are able to engineer and scope a solution which delivers base currency change and simplified reporting in approximately 25 days with nomimal customer input and resourcing.

Our solution

We deliver a solution where all changes are married against existing stuctures and any retained data. This means the output is one that should be familiar to the customer, but that now sits against a new base currency and is producing a new currency output and reconciliation of new currency results in prior reported periods, including audit trail for auditor sign off.

We implement a global setting change to the application and consolidation which forces change action against:

forex rates and triangulation of old rates to new rates
group journals (where listed in old base currency and being used)
investment elimination template and producing updated entries and exchange rate entries that reconcile in the new base currency.

As an IBM Gold Business Partner we are proud to have achieved Platinum status for client satisfaction

We have a history of working with Armar in the past, which was to a high quality. We’re comfortable with Aramar managing the project and moving the management of our licence to them.

The project outcome was successful, our objectives were achieved plus value-added in the use of Cognos.

Aramar provided alot of support in the communications and the timing of communications, which is key in managing a project with global users with a multitude of other priorities.

Success stories

We have successfully helped a number of high profile companies change the reporting of consolidated numbers from EUR to reporting in USD. Our solutions retained existing consolidation structures and local data whilst also amalgamating the data with revised elements of the investment elimination template and currency rates including historic numbers.

The result was a group consolidation process that reconciled in the USD currency to prior reported numbers, with the the simplicity of reporting in the new currency going forward. The users were also able to select which structures (e.g. consolidation types) and what data (e.g. period and actuality combinations) they wished to transfer which enabled them to specify the exact content required and achieved speed over enablement.

How can we help you? Enquire today to find out

Get in Touch

For any enquiries, please fill in the contact form or contact us via phone or email. We look forward to speaking with you soon.

Call us

0330 124 2797

Email us

contactus@aramar.co.uk

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