On a recent engagement for a multi-entity group, the headline result was monthly close dropping from 14 days to 3 — across a portfolio of subsidiaries in different sectors. But the engineering was only one of three things that moved the needle.
The three changes
First, we agreed a single trial balance template across every subsidiary. Before the project, each subsidiary submitted its TB in whatever shape the local accountant used. Half the close time was spent normalising. Standardising the input format alone cut three days.
Second, we built the consolidation engine in PHP and MySQL — nothing fancy. Foreign exchange translation, intercompany eliminations, and minority interest calculations all run in code, with every adjustment traceable back to its source line. This is the part that auditors love.
Third, we made the close calendar visible. Every subsidiary controller can see when their submission is due, what's been received, and what's still outstanding. Peer pressure does more for close timeliness than any reminder email.
The lesson
If you're trying to compress your close, don't start with the engine. Start with the inputs. Most close pain is upstream of the actual consolidation work.
