Case Study | KP1 has chosen Conso&Report for its statutory consolidation

Categorised in:
Le 7 April 2020

Ensure the reliability and security of the consolidation process

Context

The objectives of KP1 were to ensure the reliability and security of the consolidation process and to manage lease contracts and long-term leases, with the monitoring of assets and liabilities.

Benefits

● Significant time saved
● Responsive expert customer support
● Restatement of all lease contracts and long-term leases

0

assets to be restated

for lease contracts and long-term leases for 11 companies.

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" The use of the application saved a significant amount of time. It’s very easy to use and adopt intuitively for our yearly consolidations. The management of asset leasing is fundamental for us. With the approach of IFRS 16, this will mean an important increase in the number of asset leases with over 300 additional assets to be restated. "

Patrick LAIR
KP1 Group Accounting Director

" Previously, I needed three days to prepare lease contracts upstream to the consolidation to ensure correct processing and monitoring. Now, software updates enable me to post journal entries with the key elements for consolidation and the elements monitored by shareholders every month. It’s something I couldn’t have done previously. We provided only budget data and sometimes saw significant discrepancies during the year-end closing. "

Patrick LAIR
KP1 Group Accounting Director

" In terms of consolidation restatements, thanks to the solutions, data accuracy is virtually 100%. We can now monitor earnings monthly instead of twice a year. Top management is reassured by the fact that we have greater visibility and regular monitoring of the main elements that affect EBITDA. "

Patrick LAIR
KP1 Group Accounting Director

" We are so convinced of the effectiveness of cloud computing that we are going to start using this model for other components in our system. We don’t have to manage anything. We don’t have any problems. There is no server downtime. Everything is done automatically in total transparency. "

Patrick LAIR
KP1 Group Accounting Director
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Conso & Report

With Conso & Report, Viareport highlights its expertise in both software development and financial consolidation by improving on the user experience.  Conso & Report provides a solution to issues reported by SaaS-based customers, such as incompatibility with modern browsers, complex navigation and a non-intuitive interface with too many screens. Conso & Report is available in our Finance Cloud.

Lease

Our Lease solution helps you manage all lease contracts via a Web interface accessible from a secure website. Lease is designed for Groups and chartered accountancy firms who want to optimize the monitoring of their leases using a specific tool that provides a consistent overview.

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