Honestly, for many finance teams, quarterly reporting still feels like a race against time, especially the first quarter after the annual report, when it can feel like you are racing with a blindfold on.
Despite modern tools, spreadsheets still dominate, version control is a mess, and communication across borders and entities… Let’s say it’s complicated. And if you’re in group finance, chances are your calendar’s full, your inbox is fuller, and somewhere — someone — is still struggling to open the correct version of “Final_v8_LAST_last.xlsx”.
But it doesn’t have to be this way. In our recent webinar, Mads Harring—Sales Manager at Konsolidator—shared 4 of the key insights we have gained from working with hundreds of group finance teams. But also three easy shifts you can do.
From chaos to clarity:
Here’s what to improve with your Quarterly Reporting while it’s fresh
Reporting season shouldn’t be a fire drill.. Tight timelines, inconsistent data, and manual workarounds continue to challenge even the most experienced CFOs.
At Konsolidator, we’ve worked with finance leaders across industries and geographies and have experienced the same challenges as a listed company. What we’ve seen is that organizations that adopt automation not only reduce operational friction but also build a foundation for strategic, scalable reporting.
The four insights below reflect common friction points we hear from CFOs worldwide. If any of them resonate, it may be time to reassess the role of automation in your reporting process—not just for efficiency but also for accuracy, transparency, and long-term growth.
- Data collection still takes too much time
Whether you’re a small team or a large one, data collection is a beast. Different ERPs, local charts of accounts, late submissions—it all adds up. A structured data warehouse setup aligned across your group makes all the difference.
Pro tip: Excel is great… until it crashes. Let’s just say that big data and spreadsheets are not always best friends.
- Manual tasks equal manual errors
Wrong periods, unbalanced trial balances, missed adjustments, it all comes back to manual handling. Automation reduces errors by creating consistency and allowing machines to talk to machines.
Funny (but true): Every finance team has that one spreadsheet that’s handed down like a cursed heirloom. Maybe it’s time to let it go?
- Local GAAP vs. IFRS equals double work
Shadow accounting, adjustments at group level that don’t trickle down, does it sound familiar? Understanding and documenting these differences upfront can save you a world of audit pain later.
- Communication is more than a final PDF
Quarterly reporting isn’t just numbers—it’s storytelling. Whether your audience is internal or external, they need clarity, not complexity. Keep it short and sharp. Focus on key figures and explain variances.
3 Small moves that can have a big impact in your quarterly reporting
1. Get everyone on the same page – Literally
If every entity works in its own version of a “standard template,” it’s not standard. A shared structure across the group creates clarity and fewer email threads asking, “Which tab is this in?”
2. Automate what drains you, not what defines you
Automation isn’t about replacing smart people. It’s about letting them spend less time stitching spreadsheets and more time actually doing what finance is meant to do: tell the story behind the numbers.
We’ve seen teams’ relief when they realize the software can handle the consolidation so that they can focus on control, insight, and commentary. (Yes, our software. But it’s not the hero—your team is.)
3. Start With the End in Mind
What will the CFO — or the board — care about on day one post-close? Design backwards from that. It focuses effort, avoids rabbit holes, and means fewer last-minute rewrites.
Structure first, software second
What actually makes a difference (tool or no tool)? We won’t pretend quarter-end will ever be a walk in the park. But it also doesn’t have to feel like running a marathon in flip-flops. With a few smart moves — and yes, maybe some help from people who’ve lived this life before — your team can shift from reactive to ready, from chaos to clarity.
We call it” making CFOs better.” But really, it’s about making their teams better, too.
- A unified workflow: Clear deadlines, clear roles, one way of working
- Automation where it matters: Let machines handle what humans shouldn’t
- Less Excel. More alignment. (We love Excel — but not when it breaks at 11:54 PM)
- Communication: Between teams. Between countries. Between systems.
- Education: So everyone understands why things are done the way they are
Our simple quarterly reporting checklist
To help you get through the reporting season with less stress and more structure, here’s a checklist we use ourselves:
Before quarter-end:
- Create a reporting calendar – include dependencies and responsible parties.
- Align with local entities and set expectations early.
- Prep your systems – test your data collection flows.
Warning: This part always takes longer than you think. Start earlier than feels necessary.
During quarter-end:
- Collect trial balances and supporting documents.
- Automate validations and reconciliations where possible.
- Flag inconsistencies early—don’t wait until review.
- Lock in version control to avoid “who updated what?” chaos.
Fun fact: No one enjoys chasing numbers across five versions of the same file.
After submission:
- Review the process: what worked, what didn’t?
- Document key adjustments and rationale.
- Share your reporting with relevant stakeholders in a digestible format.
Note to self: “Let’s review next time” never happens unless you block time for it.
Watch our quarterly reporting webinar
Ready to transform your quarterly reporting process? Watch our webinar to learn practical tips here.