How a global real estate firm cut the consolidated close from 18 days to 5 across 60 countries
With financials scattered across 60 countries and intercompany eliminations consuming a full week, this firm needed a consolidation engine that could handle multi-currency translation and IC elimination automatically.
Sixty countries, 23 currencies, hundreds of legal entities. The close had grown into an 18-day ordeal. Regional teams in London, Singapore, and Sydney closed sequentially because they depended on each other for IC balances. Then a central team spent five more days on intercompany eliminations and currency translations.
The consolidation bottleneck
IC elimination was the single largest time sink, matching thousands of entries across currencies and periods. A team of four spent five days resolving exceptions every month. Two material adjustments in the prior year traced to IC entries eliminated in one entity but not the counterparty.
Arvexi's consolidation engine
The platform handles multi-entity consolidation natively. It matches IC entries in real-time as they post. "By the time the last entity closes, eliminations are already done," the controller says. "That five-day bottleneck just disappeared."
Regional teams now close in parallel. Automated IC matching handles 95 percent of entries. The remaining 5 percent surface in a review queue with the specific mismatch identified. Cortex monitors continuously, flagging unusual variances before they compound.
Results
Close dropped from 18 to 5 days. The CFO gets consolidated financials on day 6, two weeks earlier. Four FTEs redeployed to analysis. Audit cycle shortened by three weeks.
Explore how Arvexi's platform handles multi-entity consolidation across currencies, standards, and complex entity hierarchies.
Managing financials across 60 countries meant our close took 18 days. With Arvexi's consolidation engine handling IC elimination and currency translation automatically, we're closing in 5 days. The CFO gets consolidated financials on day 6 instead of day 20.
Controller
Global Accounting at Global Commercial Real Estate Firm