Customer story
Three countries, one SAP, quarterly consolidation cut by over 75%
Swelect Energy Systems publishes standalone and consolidated results as a listed company. The eliminations used to be rebuilt in spreadsheets every quarter.
FINAHQ cut our quarterly consolidation effort by more than 75%.
Nikhila R, Group CFO, Swelect Energy Systems Ltd. India, Singapore and the US, consolidated out of SAP
Swelect cut its quarterly consolidation effort by more than 75%.
Who they are
Swelect Energy Systems makes solar energy systems. It is based in Chennai and listed on the NSE and BSE. The group has Indian subsidiaries plus Swelect PTE in Singapore and Swelect Inc in the US, and the overseas pair report in USD.
The problem
A listed company publishes standalone and consolidated results every quarter, and that deadline doesn’t move.
Each quarter the finance team pulled balances from SAP. Then, in spreadsheets, they built the intercompany elimination workings, the related party transaction schedules and the consolidated statements on top. Every quarter, the same reconciliations started again from scratch.
What we did
- Connected directly to SAP, reading vendor, customer and GL line items through the FBL1N, FBL3N and FBL5N views your SAP team already uses
- Matched intercompany pairs from the group’s own code mapping
- Generated the elimination entries automatically and checked them against Swelect’s own prior-quarter workings
- Built the related party transaction schedules from the same data, so there is no second spreadsheet beside it
- Consolidated the USD subsidiaries alongside the Indian entities
What changed
The quarter is now repeatable, and it no longer depends on whose spreadsheet it was. Every consolidated figure traces back to the source ledger, which is what the auditor asks for.
“Our consolidation spans entities in India, Singapore and the US, with intercompany transactions running through SAP. FINAHQ automated our intercompany eliminations and related party reconciliation directly from SAP, and cut the time we spend on quarterly consolidation by more than 75%. Our team now reviews the numbers instead of rebuilding them every quarter.”
— Nikhila R, Group CFO, Swelect Energy Systems Ltd
Questions
Commonly asked
Which ERP is this reading?
SAP. Vendor, customer and GL line items, through the standard line-item views your finance team already knows: FBL1N for vendors, FBL3N for the GL and FBL5N for customers.
How are intercompany balances matched?
Against the group's own vendor and customer code mapping across Swelect entities. A pair matches because the group says those two codes belong together, never because two names look alike.
How were the eliminations checked?
Against Swelect's own prior-quarter elimination workings. The test was whether the automated entries reproduced what the team had already prepared by hand.
Does it handle the overseas entities?
Yes. Swelect PTE in Singapore and Swelect Inc in the US report in USD, and they are consolidated alongside the Indian entities from one dataset.