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

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Le 7 April 2020

Insource its statutory consolidation

Context

Until recently, Primonial Group had its consolidation performed by two external accounting firms, one for a consolidation in line with French accounting standards and the other one specializing in IFRS. Following the Group capital restructuring in March 2017, a decision was made to insource this expertise. Primonial's dual objective was firstly, to stop depending on accounting firms and secondly, to rely on a trustworthy audit trail.

Benefits

● Insourcing of expertise
● Greater autonomy in the consolidation process
● Simplified publication of consolidated financial statements
● Reliable audit trail

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entities

including 9 overseas

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" Initially, there were only two of us in the Finance Department and both of us did the Conso & Report training. Today, five of us are working with the tool but this may still change. We want to provide our overseas subsidiaries with access to Conso & Report so that they can run their own controls on local data. Today, we are consolidating 29 entities, out of which 9 are overseas. "

Stephane Leymarie
Primonial Head of Accounting

" The real strength of Conso & Report lies in the audit trail available. When we were deciding on which solution to use for our consolidation, it was especially important for us to have a reliable detailed audit trail. Conso & Report is easy to use and practical. Once historical data had been recovered, it was very easy to create analyses and reports, and to provide data to statutory auditors. "

Stephane Leymarie
Primonial Head of Accounting

" The autonomy that Conso & Report provides has been truly beneficial for our Group. Previously, we worked with accounting firms and a certain amount of time was always required before we could obtain any information. Everything is more streamlined with this tool. By insourcing our expertise, we now have instant access to information. "

Stephane Leymarie
Primonial Head of Accounting
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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.

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