CorClose
Cortell’s extensive 20-year experience in Financial Reporting and Financial Consolidation have helped highlight a key pain point for our clients.
We found that while most of our clients require both solutions, they were often forced to use and purchase two different applications.
In keeping with our purpose of utilising technology to enable efficiency and help our clients grow, we developed CorClose.
CorClose: One Platform To Do It All
CorClose is a consolidation application that was built within IBM Planning Analytics giving you a single solution to manage your financial reporting, budgeting and consolidation using one platform.
The application was built to be flexible, and features can be adapted or added easily depending on your requirements.
Currency Translations
Translate local currency into the required Group Currency and calculates FCTR. The application handles multiple currencies / group reporting currencies if required.
Intercompany Eliminations
Reconcile and eliminate intercompany accounts automatically based on TB account vs Counter party account.
Investments and Minority Eliminations
Uses the acquisition journals and Minority Holdings % provided in the application setup to post the relevant At Acquisition and NCI journals.
Manual Journal Management
CorClose enables you to post ad hoc company and group level journals for any additional adjustments, and also allows you to generate a comprehensive journal report for a specific period to view all entries in one place.
Simplify your financial consolidation process
CorClose is an advanced financial consolidation solution that seamlessly integrates with IBM Planning Analytics, providing a unified platform for all your financial planning and consolidation needs.
CorClose: Financial Consolidations using IBM Planning Analytics
Rather than purchasing a separate consolidation tool to integrate with IBM Planning Analytics, CorClose now offers a comprehensive solution.
Frequently asked questions
CorClose’s inaugural release was designed specifically for existing IBM Planning Analytics customers. Our goal was to combine IBM Planning Analytics’ budgeting and forecasting capabilities with a robust consolidation tool, delivering a single, unified solution.
Switching to CorClose is seamless. Many organizations already have established consolidation workflows, so we leverage IBM Planning Analytics’ native data-connection tools to import your historical data directly into CorClose. This ensures uninterrupted access to your complete financial history within a single, streamlined platform.
Yes. CorClose is fully integrated into IBM Planning Analytics Workspace, so you must have an active IBM Planning Analytics license to install and run the CorClose solution. If you are not an existing IBM Planning Analytics customer Cortell is a verified IBM partner and can help you secure licenses at a competitive price.