SAP has a portfolio of Consolidation solutions with their own unique positioning and the SAP Financial Consolidation (FC) software is an enterprise solution offered to companies looking to improve and speed up their financial close – without sacrificing quality control and compliance.
FC became part of the SAP EPM portfolio through the acquisition of BusinessObjects in 2007. BusinessObjects itself acquired the French software vendor Cartesis who originally marketed Financial Consolidation as Cartesis Magnitude. With a large and loyal customer base throughout Europe and Japan, FC has a particularly strong focus on statutory consolidation requirements within large multinational organisations that have complex and evolving corporate structures across multiple reporting standards (e.g. IFRS and local GAAP).