{"id":2906,"date":"2017-01-18T22:02:18","date_gmt":"2017-01-18T22:02:18","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=2906"},"modified":"2022-08-26T16:19:45","modified_gmt":"2022-08-26T16:19:45","slug":"intercompany-software-for-global-recharges-and-balancing","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2017\/01\/intercompany-software-for-global-recharges-and-balancing\/","title":{"rendered":"Intercompany Software for Global Recharges and Balancing"},"content":{"rendered":"

For companies with operations around the world, using a structure that includes a large number of legal entities, the process of properly booking transactions for activities that occur between entities can be a daunting task.\u00a0 Having one Shared Services organization using either a global or regional delivery model, where processes can be standardized<\/a>, can make a big difference.\u00a0 Certainly, also having software that can both simplify and automate the process is also an important part of a complete solution. \u00a0\u00a0<\/span><\/p>\n

Fortunately for members of Peeriosity, it is easy to get objective and unbiased feedback from peers who are interested in sharing their views and helping a colleague, with the option for participants to see the identity of others, with the ability to easily contact peers using Peer MailTM<\/sup>, an e-mail tool that is integrated into the Peeriosity solution.<\/span><\/p>\n

Recently, the Intercompany Process Leader<\/a> at a member company used Peeriosity\u2019s iPollingTM<\/sup> to understand what systems other companies were using to recharge global expenses and allocations and reconcile and balance legal entities.\u00a0 Their current process was largely manual, using Excel, and they were unsatisfied with their current solution.\u00a0 The Peeriosity member used iPollingTM<\/sup> to draft two questions that examined this issue; first asking what solution was used, and second, the member company\u2019s level of satisfaction with that solution.\u00a0 Responses were posted in real-time, with visibility to company responses available to all Peeriosity members, allowing for direct communication with peers using Peeriosity\u2019s integrated Peer MailTM<\/sup> capabilities.<\/span><\/p>\n

The first poll question asked about the system used for the processing of intercompany global recharges and intercompany balancing and consolidation<\/a>. \u00a0The iPollingTM<\/sup> results indicate that 24% use SAP, with an additional 12% using a solution that includes heavy use of both SAP and Excel.\u00a0 20% of responding companies rely on Oracle, with 4% selecting PeopleSoft and 4% selecting Infor Infinium.\u00a0\u00a0 For non-ERP solutions, Blackline was utilized by 8% of the companies, and Hyperion Financial Management (HFM) was a part of the solution for an additional 8% of respondents.\u00a0 12% of the responses indicated that their processes were largely manual, relying heavily on tools like Excel to complete processing requirements. \u00a0<\/span><\/p>\n

Here are the details:<\/span><\/p>\n

\"iPolling:<\/p>\n

The second poll question looked at the level of satisfaction companies have with the solution they are currently using.\u00a0 Interestingly, only 28% are either satisfied or very satisfied, and a significant 48% indicate they are either unsatisfied or very unsatisfied with their current solution.\u00a0 Here are the details:<\/span> \"iPolling:<\/p>\n

Unlike traditional benchmarking, Peeriosity\u2019s iPollingTM<\/sup> capabilities allow members to very quickly examine this issue in detail, providing a range of experiences and viewpoints that can be reviewed to develop an appropriate and workable answer.\u00a0 Tapping into the experience of peers eliminates guesswork and allows members to quickly access the collective experiences of a large community of users who are facing the same challenges.<\/span><\/p>\n

Here are a few of the comments from responding companies:<\/span><\/p>\n