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Companies that have acquired multiple core financial systems over time due to mergers and acquisitions must have a consistent view of all business activities.

Although the easiest short-term solution is to simply consolidate financial information at an executive level of reporting, companies should not use multiple systems to track financials for similar business units on a long-term basis, as the disparities in reporting and closing the books drive different business practices and take a toll on corporate operations.

In financial accounting, consolidated financial statements provide a comprehensive view of the financial position of both the parent company and its subsidiaries, rather than one company's stand-alone position.

The parent, in turn, controls one or more subsidiary companies (subsidiaries).

The majority of treasurers work in group organisations.

Most of our external contacts will also be parts of groups.

As a result, operating and capital costs decline, which helps improve the bottom line.

For example, airline mergers lead to the consolidation of maintenance facilities, which improves the utilization of both the facility square footage and the maintenance staff.

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