No/low-code financial consolidation and reporting tools are changing the finance landscape

Author

James Glau

Senior Director of Product Management

Two professionals focused on a desktop monitor in a bright office space, discussing data or visuals, with a third colleague working in the background. Two professionals focused on a desktop monitor in a bright office space, discussing data or visuals, with a third colleague working in the background.

See how accounting teams are stepping into the driver’s seat with no-code tools that accelerate consolidated reporting, reduce risk, and eliminate IT dependence. 

Despite decades of digital transformation, many financial consolidation tools remain stuck in the past. These solutions are the bane of any accountant’s existence: rigid, slow to implement, onerous, and heavily reliant on IT for even the most basic updates. Innovation in this space has lagged, leaving finance and accounting teams tethered to outdated systems that stall actuals, reporting, inflate costs, and delay decisions. 

That’s starting to change — fast — thanks to modern no/low-code consolidation tools built for finance users.

From IT-led to finance-owned

Traditional consolidation systems were never truly designed for accounting teams. Early platforms were on-premise and developer-dependent, often requiring 12 months or more to deploy. Even small changes — like updating reporting logic or adjusting rules — meant logging tickets, waiting on consultants, and navigating brittle systems.

This lack of autonomy made it nearly impossible for finance to move at the pace of business. But today, cloud-native, no-code tools are putting finance and accounting teams in control — enabling them to configure, adapt, and maintain consolidation and reporting processes without writing a single line of code.

What’s broken with legacy consolidation software

Even now, many finance teams still rely on outdated systems and siloed spreadsheets. The consequences are familiar:

  • Delayed actuals and high audit risk 
    Manual tasks, disconnected data, and lack of automation slow results and increase the chance of costly errors.

  • Rigid structures that can’t quickly adapt 
    Legacy systems struggle to support evolving business structures, acquisitions, and changes in ownership. These leave accounting teams boxed in, forcing manual adjustments and temporary workarounds.

  • High cost of ownership 
    Ongoing consultant fees, heavy IT involvement, highly specialized training, and steep learning curves drive up long-term costs and stall productivity.

  • Limited visibility and slow reporting 
    Lack of real-time access to financial data limits agility, accuracy, and decision-making power.

The impact is slow consolidated reporting, limited insight, and more time spent troubleshooting than analyzing.

What no/low-code changes look like for accounting teams

Modern, finance-owned consolidation and reporting tools aren’t just easier to use — they fundamentally reframe what consolidation and reporting can look like:

  • Own your logic and rules 
    Accounting teams can directly configure consolidation logic, produce cash flow statements, and change ownership structures using intuitive, no-code interfaces.

  • Automate your manual tasks 
    Intercompany eliminations, currency translation, and audit trails are built in — reducing risk and saving hours of manual work.

  • Consolidate faster and smarter 
    Integrate data from multiple ERPs, ledgers, and systems, regardless of chart of accounts or fiscal calendars.

  • Support complexity with ease 
    Handle multi-entity ownership, minority interests, and compliance with GAAP, IFRS, and ASPE — all without IT assistance.

  • Report in real time 
    Self-serve, data-connected financial and narrative reporting with Excel-based analysis lets you surface insights faster and meet internal and external deadlines with confidence.

Anaplan puts your team in control

Anaplan’s financial consolidation and reporting solutions are purpose-built for business users. Cloud-native and multi-tenant, the solutions are owned and maintained entirely by your finance and accounting teams — from setup to administration. No custom code. No IT backlog. Just a flexible, intuitive platform that effortlessly scales with your business.

With Anaplan, you can:

  • Deploy in weeks using out-of-the-box templates, logic, calculations, and rule-based workflows
  • Cut consolidation and reporting time by up to 90% through automation and streamlined processes
  • Create audit-ready board books as well as internal and external disclosures — all in a familiar Microsoft environment
  • Connect your financial, operational, and external data for a unified, real-time view of your position
  • Support fast growth with the ability to adapt structures, reporting needs, and ownership models at any time
With most software, we almost needed a PhD in coding. We needed something intuitive and flexible — something our accountants could own, not be held hostage by IT.
Controller, Global Chemical Manufacturer

The future of consolidation is finance-led

Consolidation doesn’t have to be rigid and obscure. With the right tools, your finance and accounting teams can fully own the process and accelerate the close, strengthen compliance, and free up time for more strategic work.

If your current system feels like it’s working against you, it’s time to explore a better way.

Experience what finance-owned consolidation can do for your business.

Request a demo