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Introducing low-priced and easy consolidation of financial statements…

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Konsolidator version 2.0 has patented* Consolidation


Virksomheder_IKON Groups

Every group needs to perform financial consolidation and reporting. Konsolidator® handles it easily and takes the burden off the group. Our core competence is to make financial consolidation and reporting simple, fast and inexpensive for the group CFO.

  • Cloud-based consolidation
  • Simple, fast and inexpensive
  • No consultancy fees
  • No IT investments
  • Auditor-approved application
Revisorer_IKONAuditors and other consultants

Auditors can easily access all reports, post-entries and eliminations provided the company has authorised such access. Accountants can pull data more easily and faster compared to existing Excel set-ups.

  • Easy online auditing of the consolidated financial statements
  • Possibility of making post-entries and eliminations
  • Possibility of tracking the progression of the consolidation process

The story behind Konsolidator

Having previously worked as CFOs for international groups, two of the partners in Konsolidator know all too well how frustrating it is that the market offers no low-priced consolidation tools that can be implemented without hiring external consultants. Groups have therefore resorted to self-made or consultancy-designed Excel solutions to manage the task of financial consolidation. We wanted to meet this demand and therefore decided to design a financial consolidation application that is easy to implement and inexpensive to use.

The people behind Konsolidator

Claus Finderup Grove has an MSc in Economics and has worked as CFO for several international groups. Claus has also worked for A.P. Moller-Maersk during which time Claus was part of a group that built their financial consolidation set-up. Over the last 18 years, Claus has worked in Denmark, Malaysia, Italy and Hong Kong.

Lars Højer Paaske has been working as a developer for several years based on a Bachelor Degree in Computer Science and Economics. Lars also has several years’ experience working as an IT consultant in his own business and has handled large-scale ERP implementations in the shipping industry.

A third Partner, with a background as State-Authorised Accountant at one of the leading accounting companies, is also associated with the company.


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Start saving today

Please contact Konsolidator if you would like to receive an investment estimate. There are two general scenarios in which to gain savings from Konsolidator®:

  • If consolidation is presently performed by the group itself in Excel, the time-saving potential is massive. In addition, the group can make direct savings on e.g. consultancy services and external control.
  • If consolidation is presently performed by an external accountant, great savings can be made with Konsolidator® if the group starts handling the task itself.

 


Low cost quality solution

  • Developed by CFOs and State-Authorised Accountant from SME with a similar need
  • Includes the best from the big solutions and the flexibility from Excel
  • Newly developed features for the SME segment that neither the big solutions or Excel have
  • Auditor access
  • Scalable (add companies, add accounts, modify ownership interest etc.)
  • Eliminates errors and reduces time spent on consolidation
  • No investments – the only cost is the monthly fee
  • Reduces auditor costs
  • High level of data security
  • Not dependent on internal servers, processes or safety failures

Contact us for more information!


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How Konsolidator® works

The basic principle of Konsolidator® is to make it simple and inexpensive to consolidate financial accounts for monthly reporting and the submission of annual financial statements – provided this is the sole purpose. Many professional, or less professional, Excel solutions have been developed by the groups themselves or by external consultants; Overall, they rarely deliver satisfactory results and are hardly usable when changes to reported data are to be implemented or changes to the group occur.

With Konsolidator® the group structure is built once. It is simple and intuitive and does not require external consultants. Should assistance be needed, our free support and video tutorials can be used. They are routinely updated and placed on our website. Once the group structure is built, the reporting format is then selected. The next step is to upload data, which is usually sourced from Excel.

When data have been uploaded, it is possible to make post-entries and any needed intercompany eliminations before consolidation is performed. When the consolidation is complete, reports are printed to Excel. In Excel, further work to prepare the financial statements can be done, regardless of whether it is a monthly report, annual report or other management report.

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Konsolidator® for consultants

How do auditors use Konsolidator®Auditors can get access to the company’s reports and calculations via their client’s subscription and associated auditor access.hvid_10x10pxhvid_10x10pxhvid_15x15pxWhy recommend Konsolidator® to your audit clients?hvid_10x10px The auditing work is much easier when the client has consolidated all companies with Konsolidator® instead of delivering a preliminary balance sheet or an Excel-based consolidation. When the auditing firm’s clients routinely consolidate their accounts using Konsolidator®, it becomes much easier to gain an overall view of the group’s affairs and consolidated results. This overview can easily be extracted to relevant reports and files.

*Patent Application Number: PS 2016 70522

Time to meet?

› If you would like more information about your options, please contact us to arrange a non-binding meeting.

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