Consolidated and consolidating
Here are the key steps in the financial consolidation process: Key financial reports generated from consolidated financial results include the income statement, balance sheet, and statement of cash flows.
To those who aren’t familiar, financial consolidation might sound like simply adding up numbers. In financial consolidation, there are specific calculations and adjustments made as the numbers are consolidated from the subsidiary level to the parent company level.
So, how do you leverage the commonalities and address known challenges, when building a strategy to combine business travel and meetings program/spend?
You can achieve enormous success when you merge your programs thoughtfully.
"We now have been working with Sigma Conso for more than one year.
We particularly appreciate the organization and punctuality of Sigma Conso: the entire process goes smoothly according to the schedules we agreed on in advance. Every effort is made by Sigma Conso to make our task as easy as possible.
Businesses and program managers are beginning to take a closer look at the effectiveness of their travel and meetings program, and while the meetings category has limited maturity and its business travel counterpart is much more established, there are notable synergies within both programs that can be leveraged to better optimize spend.
On the other hand, business travel is a large, well-established category with deep maturity, high compliance, well-established policies, and clear visibility across categories like card, expense, and suppliers.
However, all is not lost – we have found synergies in both programs that you can leverage when consolidating: These synergies come from improving deals with hotels/airlines/suppliers, improving the business traveler/meeting attendee experience (typically, the same end user), and delivering on procurement goals.
97% of respondents in the Cvent/GBTA survey achieved success with a thorough, step-by-step, and vetted approach. Contact us today Henrietta Balint Senior Director, Global Meetings & Events, Radius Travel Heni has a wealth of experience in both M&E and transient travel, having spent more than 20 years in commercial travel management company roles covering both sectors.
A native Australian, Heni has lived and worked in Europe, Asia Pacific, and North America, and currently resides in the U.