Consolidation software is an application that automates the production of group financial statements from the packages submitted by each entity. It handles the restatement of local policies to group standards, currency translation, intercompany elimination, the equity split between group and minorities, and the generation of the statements themselves.
It sits above the ERPs rather than replacing them. Each entity keeps its accounting system, submits a consolidation package, and the tool aggregates. Established products dominate the mid-market and large-cap segments, and they are genuinely good at the mechanical part of the work.
What consolidation software structurally cannot do is verify that the figures it receives agree with each other. It is designed to aggregate declarations, not to challenge them. If entity A declares 40,000 euros on a flow and entity B declares 38,500, the tool eliminates what it is given and the 1,500 difference lands in an unexplained variance. The elimination runs correctly on inputs that were wrong.
That distinction matters when choosing where to invest. Groups whose multi-entity close lengthens rarely do so because their consolidation tool is slow. They do so because the first week is spent chasing an intercompany mismatch across entities before any package can be validated. Replacing the tool does not shorten that week.
Phacet is not a consolidation tool and does not compete with one. It operates upstream, on the reliability of what enters the package: the intercompany flow reconciliation agent validates reciprocal positions before submission, and consolidating data from multiple ERPs harmonises entities running on different systems. The consolidation tool then works on figures both sides have already agreed.
