The verdict in three sentences
A group with 6 subsidiaries consolidating in Excel ties up its finance team for 12 working days every month, with re-keying that undermines the figures presented to the board. An automated reporting project (ERP extraction, adjustments, dashboards, budget variances) costs USD 32,000 to 80,000 in 2026, compared with a consolidation software licence of about USD 16,000 a year before integration. The target: a 5-day close and no more re-keying errors.
Anatomy of a 12-day close
Subsidiaries run on different ERPs, common after acquisitions: Sage X3 at the parent, Odoo at two distribution subsidiaries, SAP Business One in manufacturing, local packages at the smallest entities in Malaysia and Indonesia. Every month, accountants export trial balances, copy them into the consolidation workbook, match intercompany flows by hand and build dashboards in PowerPoint. The smallest intercompany gap blocks everyone for a day.
| Close step | Current duration (Excel) | Automated duration | What changes |
|---|---|---|---|
| Local closes of 6 subsidiaries | 4 days | 3 days | Automatic trial balance checks |
| Collecting and re-keying balances | 2 days | 0.5 day | Direct extraction from ERPs |
| Intercompany reconciliation | 2.5 days | 0.5 day | Automatic matching, gaps flagged |
| Adjustments and eliminations | 1.5 days | 0.5 day | Configured rules, logged journal |
| Dashboards and variance analysis | 2 days | 0.5 day | Generated dashboards, commentary only |
| Total | 12 days | 5 days | 7 days saved |
These durations are 2026 orders of magnitude observed in regional groups of 300 to 1,500 employees. The main gain comes from collection and intercompany, not from local closes.
Consolidation software or custom build
Two routes compete. Off-the-shelf consolidation software brings a proven framework but imposes its logic, annual licences and an integration project with each ERP. The custom route combines a data warehouse, ERP connectors, an adjustment engine and a visualisation tool (Power BI or equivalent).
| Criterion | Current Excel | Consolidation software | Custom solution (warehouse + BI) |
|---|---|---|---|
| Upfront cost | USD 0 | USD 21,000 to 48,000 integration | USD 32,000 to 80,000 |
| Annual recurring cost | Staff time only | About USD 16,000 in licences | USD 5,000 to 10,000 (hosting, maintenance, BI) |
| 5-year cost | Over USD 320,000 in time | USD 100,000 to 128,000 | USD 58,000 to 128,000 |
| Time to go live | n/a | 4 to 8 months | 3 to 6 months |
| Fit with local ERPs | Manual | Depends on connectors | Full, built to fit |
| SFRS(I) and IFRS standards | In-house workbook | Native | Configured in the rules |
| Ownership of code and data | Yes | No | Yes |
Consolidation software makes sense for a listed group reporting under IFRS with many foreign subsidiaries. The custom solution wins when ERPs are heterogeneous, management rules are specific and the goal is steering as much as statutory consolidation.
What the USD 32,000 to 80,000 budget covers
Scoping (USD 4,300 to 8,600) formalises the group chart of accounts, mapping tables, elimination rules and KPIs. ERP connectors cost USD 3,200 to 8,600 each depending on database access. The adjustment and intercompany engine represents USD 8,600 to 19,000. Dashboards (P&L by subsidiary, cash, budget versus actual, working capital) add USD 6,400 to 16,000. Financial data is hosted in Singapore or the region in line with the PDPA, with access rights by subsidiary.
Mini case study
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Rachel, CFO of a distribution group in Singapore, launches a USD 56,000 project with USD 6,400 of annual maintenance. Her team of 4 spent 12 days a month on the close, or 48 person-days. After automation, 5 days are enough, or 20 person-days: 28 person-days saved every month. At a loaded cost of USD 190 per day, the gain reaches USD 5,320 a month, about USD 64,000 a year. After maintenance, USD 57,600 net remains: the project pays back in just under a year, and the board gets its figures on working day 5 instead of day 12.
FAQ
Do ERPs need to be harmonised before automating?
No. The project reads each ERP as is and applies mapping tables to the group chart of accounts. Harmonisation would often cost more than USD 200,000.
How long until the first automated close?
Allow 3 to 6 months, including 2 closes run in parallel to validate figures to the dollar.
Do auditors accept this kind of tool?
Yes if every adjustment is logged and documented. The consolidation journal can be exported for the annual audit.
Can we keep Excel for some analyses?
Yes, consolidated data remains exportable. Excel becomes an analysis tool rather than the production engine for the figures.
What internal profile is needed to run the solution?
A financial controller trained for 2 to 3 days can add a subsidiary or a KPI. Major changes go through maintenance.
Let's scope your project. Tell us the number of subsidiaries, the ERPs in place and your current close time: we price a solution between USD 32,000 and 80,000 with a 3 to 6 month plan. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
