The verdict in three sentences
For a group with 5 subsidiaries, automating monthly financial reporting costs between EUR 15,000 and 45,000 excluding VAT depending on how many accounting systems must be connected and how deep the reports go. The measurable gain is a close brought down from day 12 to day 5 and about 6 person-days recovered every month. The project usually pays back in 10 to 16 months, before even counting the value of decisions made a week earlier.
Where the 8 days of consolidation go
In a typical Amsterdam group (trading, port logistics, services), each subsidiary keeps its books in its own tool: Exact, AFAS, Twinfield or an export from the external accountant. The CFO receives inconsistent Excel files, restates intercompany accounts, re-keys budgets and rebuilds the management committee charts. 2026 order of magnitude observed on this profile:
| Monthly task | Manual time | Time after automation |
|---|---|---|
| Collecting trial balances from 5 subsidiaries | 1.5 days | 0.1 day (connectors) |
| Chart of accounts mapping | 1 day | 0.2 day (mapping table) |
| Intercompany eliminations | 1.5 days | 0.3 day (automatic rules) |
| Checks and reconciliations | 1.5 days | 0.5 day (variance alerts) |
| Budget vs actual and comments | 1 day | 0.5 day |
| Formatting the board pack | 1.5 days | 0.1 day (generated report) |
| Total | 8 days | 1.7 days |
The remaining time is analysis time, which is what the CFO is paid for. Automation does not replace judgement on provisions or cut-offs, it removes re-keying.
What the project costs in 2026
There are three solution levels. Amounts are 2026 estimates for a group of 3 to 8 entities, excluding licences for existing accounting software.
| Component | Essential level | Group level | Advanced level |
|---|---|---|---|
| Accounting connectors (API or scheduled exports) | 2 systems | 3 to 4 systems | 5+ systems, ERP |
| Consolidation and eliminations | Simple rules | Full intercompany | Multi-currency, minority interests |
| Dashboards | 1 CFO dashboard | CFO + CEO | Per subsidiary + board |
| Generated board pack (PDF) | No | Yes | Yes, annotated and versioned |
| Budget vs actual | Manual import | Input in the tool | Quarterly reforecasts |
| Implementation time | 4 to 6 weeks | 8 to 10 weeks | 12 to 16 weeks |
| Build budget | EUR 15,000 | EUR 25,000 to 32,000 | EUR 38,000 to 45,000 |
| Maintenance and hosting | EUR 150/month | EUR 300/month | EUR 500/month |
The most variable item is the quality of the source data. A consistent chart of accounts across subsidiaries cuts the budget by 15 to 20%. Conversely, a subsidiary still on software without an API requires a scheduled export and an extra control.
Comparing with a new hire
The classic alternative is hiring a financial controller. In Amsterdam in 2026, a profile with 3 to 6 years of experience costs EUR 55,000 to 70,000 fully loaded per year (often more in the Randstad). They absorb the workload, but the close stays manual, depends on one person and rarely gets faster than day 9.
| Criterion | Additional financial controller | Group-level automation |
|---|---|---|
| Year 1 cost | EUR 55,000 to 70,000 | EUR 28,000 + EUR 3,600 maintenance |
| Following years | EUR 55,000 to 70,000/year | EUR 3,600/year |
| Target close | Day 9 to 10 | Day 5 |
| Turnover risk | High (tight market) | Low, documented logic |
| Added analysis capacity | Yes | Yes, CFO time freed |
The right answer often combines both: automate first, then hire an analysis profile rather than a data-entry profile.
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Mini case study
Sanne, CFO of a 5-subsidiary distribution group in Amsterdam, costs together with her accounting assistant about EUR 650 per fully loaded person-day. Before the project, consolidation takes 8 days a month, or EUR 5,200 monthly. After group-level automation invoiced at EUR 28,000 excluding VAT, 1.7 days remain, or EUR 1,105. Monthly gain: EUR 4,095, minus EUR 300 maintenance, so EUR 3,795 net. Payback: 28,000 / 3,795 = 7.4 months. The management committee now gets the figures on the 5th of the month instead of the 12th, which made it possible to adjust a quarter's purchasing three weeks earlier.
FAQ
Do subsidiaries need to change accounting software?
No in 80% of cases. Exact, AFAS and Twinfield offer APIs or schedulable exports. Only subsidiaries on legacy software without exports need specific handling, which adds EUR 2,000 to 4,000 excluding VAT.
How long before the first automated close?
Allow 8 to 10 weeks for a group of 5 subsidiaries. We recommend running the tool in parallel with the manual process for 2 closes before switching.
Is it compatible with the auditor's requirements?
Yes, as long as an audit trail is kept. Each restatement is logged with its rule, date and author, which usually cuts 1 to 2 days from the annual review work.
Does the data stay hosted in the EU?
Yes, hosting can be in a datacenter in the Netherlands or elsewhere in the European Union, with encryption and daily backups kept for 30 days.
Can we start small?
Yes. The essential level, around EUR 15,000 excluding VAT, covers collection and a CFO dashboard. Intercompany eliminations and the board pack can be added later without starting over.
Let's scope your project. Tell us how many subsidiaries, which accounting systems and what close date you are aiming for: we will price the scope and the schedule. 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.
