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Author: BrizoSystem

  • Mastering Multi-Country Financial Reporting: Challenges and Pitfalls

    Mastering Multi-Country Financial Reporting: Challenges and Pitfalls

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    For businesses operating in multiple countries, financial reporting can be a complex and time-consuming task. Each country comes with its own accounting standards, tax regulations, currencies, and fiscal periods, creating a maze of financial data that must be accurately consolidated and presented. Without the right tools and processes, this can quickly turn into a logistical…

  • The Hidden Costs of Manually Exporting Data for Financial Reporting

    The Hidden Costs of Manually Exporting Data for Financial Reporting

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    For many finance teams, exporting data manually from accounting systems like Xero, QuickBooks, or MYOB is a regular part of the monthly reporting process. This approach might seem straightforward, but it introduces a range of challenges that can slow down your financial close, increase the risk of errors, and limit the insights you can draw…

  • Announcing Prebuilt KPIs in BrizoSystem

    Announcing Prebuilt KPIs in BrizoSystem

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    Tracking financial performance can be a daunting task, especially when managing multiple companies or subsidiaries. To make this process simpler and more insightful, BrizoSystem has introduced a set of prebuilt KPIs (Key Performance Indicators) that cover a wide range of financial metrics. These prebuilt KPIs are designed to give you a clear, real-time view of…

  • The Hidden Costs of Manually Preparing Board Packs and Monthly Reports

    The Hidden Costs of Manually Preparing Board Packs and Monthly Reports

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    For many finance teams, preparing board packs and monthly report sets is a routine yet time-consuming task. It involves collecting data from multiple sources, validating numbers, updating spreadsheets, and creating polished presentations—often under tight deadlines. While this manual approach might work for small businesses, it quickly becomes unsustainable as your organisation grows. In this blog,…

  • Managing Multiple Companies in BrizoSystem: Simplifying Financial Consolidation with Virtual Groups

    Managing Multiple Companies in BrizoSystem: Simplifying Financial Consolidation with Virtual Groups

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    As businesses grow and expand, they often find themselves managing multiple companies, subsidiaries, or business units. This structure, while beneficial for scaling operations and reducing risk, introduces a significant challenge: financial consolidation. This process involves combining financial data from multiple legal entities into a single, unified view for accurate financial reporting and analysis. BrizoSystem is…

  • New Feature in BrizoSystem: Define Ownership Percentage and Calculate Non-Controlling Interest (NCI)

    New Feature in BrizoSystem: Define Ownership Percentage and Calculate Non-Controlling Interest (NCI)

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    Managing the financials of a complex group structure can be challenging, especially when ownership percentages vary across subsidiaries. To make this process more intuitive and accurate, BrizoSystem has introduced a powerful new feature that allows users to define ownership percentages for each organization within their group. This feature automatically calculates Non-Controlling Interest (NCI) for both…

  • The Hidden Costs of Using Excel for Multi-Company Consolidation

    The Hidden Costs of Using Excel for Multi-Company Consolidation

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    For many small and medium-sized businesses, Excel is the go-to tool for financial management. It’s flexible, widely available, and familiar to most finance professionals. However, as your business grows and you add multiple entities, using Excel for financial consolidation can become a costly and risky choice. In this blog, we’ll explore the downsides of using…

  • Understanding Intercompany Dividend Elimination in Financial Consolidation

    Understanding Intercompany Dividend Elimination in Financial Consolidation

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    Why Intercompany Dividends Must Be Eliminated When consolidating financial statements across multiple entities within a group, one essential adjustment is the elimination of intercompany dividends. These are dividends paid by one subsidiary to another entity within the same group—such as a holding company or another subsidiary. While dividends are legitimate transactions between companies, they must…

  • Why Do We Eliminate Intercompany Transactions in Financial Consolidation?

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    Seeing the Group as One When a group of companies is under common control—such as a parent company with several subsidiaries—the goal of financial consolidation is to present their financials as if they were one single economic entity. This means transactions between the entities in the group are internal, not external, and do not represent…

  • AI and Financial Consolidation: The Future of Multi-Entity Reporting

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    Introduction: A New Era in Finance Financial consolidation has traditionally been a complex, manual process requiring significant coordination across departments, countries, and systems. As businesses grow through acquisitions or international expansion, consolidation becomes even more challenging. Multiple entities mean multiple sets of financials, charts of accounts, currencies, and compliance requirements. Artificial Intelligence (AI) and Machine…