Tensoft Multi-National Consolidation 2.0 Delivers Speed and Accuracy
SAN JOSE, CA – Sept 12, 2005 – Microsoft Great Plains re-sellers and end users can now turn to Tensoft to fill a critical functionality void. Tensoft’s Multi-National Consolidation 2.0 (MNC) provides an easy way for Microsoft Great Plains users to consolidation financials from multiple entities, without the expense of products like Cognos Controller or Hyperion Financial Management.
Tensoft MNC 2.0 automates a series of complex steps that are commonly performed by cost accountants using spreadsheets and FRx, a Microsoft reporting tool. This error-prone, time-consuming process requires a knowledge base in financial consolidations, inter-company transactions, and statutory requirements. With MNC 2.0, accounting staff with no prior experience with financial consolidation can produce results that are fully auditable, and in compliance with FASB 52 and Sarbanes-Oxley requirements.
MNC customers report benefits that include shorter closing times and greater accuracy. One customer, NetLogic Microsystems, Inc. installed MNC 2.0 after they opened a subsidiary in India. Shig Hamamatsu was the Controller during this period.
Hamamatsu explained why NetLogic chose MNC, “To grow, you want people to be spending less time on clerical work like data processing, so that they can focus on true business issues – like talking to vendors and customers, as well as analyzing business processes and trends, etc. – rather than just punching in data. That’s where we see the use of technology like MNC as a real benefit.”
“I think MNC 2.0 is easy to use, easy to implement, at a reasonable cost. It doesn’t require extensive training – it’s very user-friendly and intuitive. This is a straightforward solution for anyone who has to manage consolidations,” he concluded.
MNC was developed to meet the growing needs of companies with international operations. In areas with high concentrations of high tech businesses, such as Silicon Valley, multinational operations have become a fact of life.
“Today, businesses are establishing sales, manufacturing and operations bases in other countries as a matter of course,” according to Bob Scarborough, CEO of Tensoft. “This is happening earlier in a company’s life cycle, as staffing strategies are often global from the very beginning. Microsoft Great Plains has widely used by companies with this profile. Until now, financial consolidation has been a major headache for Great Plains users.”
MNC is a web based, .NET product for Microsoft Great Plains Standard or Professional. It is available directly from Tensoft, or through Microsoft Great Plains partners. Contact Tensoft for pricing.
About Tensoft
Tensoft provides innovative software products and services to its high tech customers in the Silicon Valley area and elsewhere. Founded in 1996, Tensoft delivers results tailored specifically to each customer’s needs. Tensoft partners with established firms in the U.S., Canada, and Europe to re-sell and provide local support for its products.