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Close the monthly management reporting in two days instead of the usual seven? Generate a P&L in one click instead of complex linking of many excel sheets? Not negotiate concepts, processes, deadlines? A beautiful idea? No. Reality.
FinReCo, Adastra’s proprietary management and analytics solution that provides fast and efficient management reporting. It is suitable for companies or holding companies with a complex management structure that:
- consolidates data for financial reporting and controlling
- standardises previously ambiguous reporting
- unifies financial terminology, approval processes including automated workflow and access rights management
- locks reporting periods against changes
- eliminates manual editing and rewriting of excel
For whom is FinReCo intended?
CFOs and management of companies who most appreciate being in full control of their financial reporting – thanks to FinReC’s single, unified version of the truth.
Controllers who, with FinReC, gain confidence in the detailed analysis of the reported numbers, whether they are looking at them by product, customer, country, branch or many other instances.
Quick payback and implementation
- FinReCo speeds up regular monthly reporting from days to hours, sometimes even minutes
- Have a breakdown of the P&L by product in seconds
- With minimal customer input, it solves 80% of the data and reporting requirements that CFOs have
- It will get you to automated and standardized reporting in 3 months from project launch
Adastra has its own experience with the solution – it reduced the completion of monthly reporting to just 2 hours
The Adastra Group was no longer comfortable with its financial reporting and controlling setup. It needed to unify and standardise financial nomenclature, consolidate source data (including consideration of local currencies) and streamline financial processes across the Group. Specifically across 8 companies operating in 21 offices worldwide.
Adastra migrated to FinReCo within 1 year. It has made the finance department, the management of all offices and companies and the individual business departments of Adastra work faster, more efficiently and with the same numbers.
They use a unified nomenclature binding for the entire holding. From days to 2 hours, the time for the Adastra Group CFO to conclude the regular monthly reporting has been reduced.