The verdict in three sentences
A mid-sized Amsterdam group consolidating 6 subsidiaries in Excel each month ties up its finance team for 6 to 8 days at close, with a formula error risk at every step. Power BI is cheap on licences (14 USD per user per month for Pro) but needs serious data modelling to be reliable, while a custom application costs more; together the Dutch market range runs from 15,000 to 70,000 EUR depending on scope. Either way, the realistic target is a monthly close shortened by about 4 days, provided you fix source data quality first.
The real problem: consolidation, not the chart
A CFO dashboard is only as good as the data feeding it. With 6 subsidiaries, each often has its own chart of accounts, its own software (Exact, AFAS, Twinfield, sometimes a local ERP) and its own adjustments. The core work is building a common reference model: account mapping table, intercompany eliminations, currencies, analytical dimensions. Without it, Power BI and custom builds alike only display inconsistent numbers more nicely.
| Close step | Excel today | With automated flow |
|---|---|---|
| Collecting subsidiary trial balances | 1.5 to 2 days | a few hours, scheduled import |
| Mapping charts of accounts | 1 day | automatic through mapping table |
| Intercompany eliminations | 1 to 1.5 days | calculated rules, human check |
| Consistency checks | 1 day | automatic alerts |
| Report formatting | 1 to 1.5 days | dashboard always up to date |
| Commentary and analysis | 1 day | 1 day, finally useful time |
Power BI or custom build: the 2026 comparison
| Criterion | Power BI with modelling | Custom application |
|---|---|---|
| Licences | 14 USD per user per month (Pro) | none, hosting 50 to 300 EUR a month |
| Project cost, Dutch market | 15,000 to 30,000 EUR | 30,000 to 70,000 EUR |
| Time to go live | 6 to 10 weeks | 10 to 16 weeks |
| Data input (budgets, forecasts) | limited, workarounds | native forms and workflows |
| Rights by subsidiary and role | row level security | tailored permission model |
| Vendor dependency | high (Microsoft) | code owned by the client |
| Ideal profile | group already on Microsoft 365 | specific budget and approval processes |
For 15 users, Power BI Pro is about 210 USD a month, under 2,400 EUR a year: the real cost is modelling and its upkeep. A custom build makes sense once the CFO also wants to enter data (budgets, reforecasts, approvals by subsidiary heads) and not just read it.
At Kolonell, a consolidation dashboard with budget input falls under our medium custom app range, 4,000,000 to 7,000,000 FCFA (6,100 to 10,670 EUR), or complex, 7,000,000 to 15,000,000 FCFA and more (10,670 to 22,870 EUR and more) beyond 5 entities with approval workflows. Maintenance ranges from 35,000 to 120,000 FCFA a month.
How to choose without regret
Start by listing the decisions the dashboard must support: consolidated cash at D+5, margin by subsidiary, variance to budget. If 80% of needs are read-only and your teams already use Microsoft 365, Power BI is the rational choice. If the budget process is your pain point, or subsidiaries outside the Netherlands run heterogeneous tools, a custom build avoids multiplying Excel files around Power BI.
Mini case study
Illustrative example: Eva, CFO of a trading group in Amsterdam, consolidates 6 subsidiaries with a team of 3 controllers. Month-end close takes 8 working days.
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- Target gain: 4 days x 3 controllers = 12 person-days a month, or 144 days a year.
- Value: 144 days x 450 EUR of loaded daily cost = 64,800 EUR a year.
- Power BI option: 22,000 EUR project plus 2,400 EUR of annual licences, paid back in about 5 months.
- Custom option with budget input: 55,000 EUR, paid back in about 10 months, while also removing budget files sent by email.
FAQ
Can we start with Power BI and move to custom later?
Yes, and it is often sensible: the reference model work (account mapping, elimination rules) is reusable. Expect to recover 30 to 40% of the initial budget when moving to custom.
How many users should we plan for?
For a group with 6 subsidiaries, 10 to 25 users is a common order of magnitude: finance, subsidiary heads, executive team. With Power BI, each viewer needs a Pro licence at 14 USD a month, unless you have Premium capacity.
Do subsidiaries outside the Netherlands cause problems?
They add currencies and local charts of accounts, which lengthens modelling by 1 to 3 weeks. FX conversion rules should be validated with your auditors.
How soon can we get a useful first version?
A first version covering the consolidated P&L can be delivered in 6 to 8 weeks. Balance sheet, cash and budget usually follow in 1 to 2 further iterations.
Who maintains the model when a chart of accounts changes?
You need a maintenance contract or a trained internal owner. A mapping change usually takes 1 to 2 hours if the model is well documented.
Let's scope your project. Describe your subsidiaries, accounting software and close calendar, and we will compare both options and price the one that genuinely shortens your close. 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.
