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Financial Consolidations for Multi-Entity Healthcare Organizations 7 3. Managing the Consolidation Process Cloud-based financials allow for all consolidation information to be fully integrated at any point in time. This puts all the data from every geography, business line, specialty, or other segments at the fingertips of the corporate accounting staff. This can virtually eliminate the back-and-forth emails between corporate accounting and the various business units. The corporate accounting staff has drill-down transparency into the data of each business unit to enhance its own understanding of the financials as the results roll-up� Leading cloud-based finance systems also have collaboration and documentation tools built in, such as chat functions and electronic notes that can be documented and a ached to relevant accounts and reports. Say goodbye to cumbersome binders or file directories full of spreadsheet backups. Cloud financial management systems also bring greater visibility to inter-company transactions among entities. Since the data is housed inside a single system, the elimination and consolidation entries can be automated. Inter-company accounts are automatically reconciled and elimination entries posted to deal with inter-company transactions and balances. This mitigates the risk of missed postings of inter- company transactions on one side or the other. 4. Be er Insight Traditional consolidation processes o en create a data gap between systems and spreadsheets that inhibits transparency, limits insight, and creates a latency between when activities happen and when they get reported� Cloud-based financials eliminate the gaps between the consolidation and the data–which has a profound outcome. Real-time consolidated financial information becomes available to decision-makers at the push of a bu on. This eliminates the "black box" of accounting that o en arises when the executives must wait weeks to see consolidated financial results, which can disrupt and delay important decisions.