Customer Satisfaction

★★★★★★★★★★ 9.3/10

9.3

User Experience

★★★★★★★★★★ 9.4/10

9.4

Functionality

★★★★★★★★★★ 8.7/10

8.7

Business Value

★★★★★★★★★★ 9.6/10

9.6

elKomSolutions elKomKONS

What is elKomSolutions elKomKONS?

Solution for financial consolidation and close for small and medium-sized groups. Integration with other elKom solutions elKomPlan and elKomBI. All solutions based on IBM Planning Analytics technology (database, data integration and front-ends).

BI, Analytics & CPM

● Reporting / Dashboards

● Analysis

– Advanced Analytics

– Planning

●● Financial Consolidation

● = Function covered, ●● = Functional focus

● = Function covered
●● = Functional focus

About elKomSolutions elKomKONS

Self-description of the vendor

No vendor self-description available

References

No data available

Partners

No data available

elKomSolutions elKomKONS BARC Review & Rating

Provider and product description

elKomSolutions GmbH was founded in 1997 and is headquartered in Tuttlingen, Germany. The vendor serves more than 150 customers, from SMEs to DAX-listed corporations. Since 2022, elKomSolutions has been part of the holding company CHAPTERS Group, a group of approximately 50 small to mid-sized companies, with over 1,000 employees and headquarters in Hamburg.

As a specialized IT service provider and IBM Gold Business Partner, elKomSolutions focuses on the development, implementation and support of software solutions for business intelligence (BI), corporate planning and financial consolidation based on the multidimensional OLAP database technology IBM Planning Analytics TM1. The software portfolio includes three solutions: elKomBI, elKomPLAN and elKomKONS. In addition to its software offerings, elKomSolutions offers comprehensive services from the design and development of customized software solutions with IBM Planning Analytics TM1 to user training and post-implementation support.

IBM Planning Analytics TM1 is the basis of elKomSolutions’ software offerings and provides a high-performance, multidimensional, in-memory database with Excel and web front ends. At its core, it is a flexible development environment for business power users and does not have a dominant focus on any one topic (finance, sales, HR, etc.) or industry. The strength of IBM Planning Analytics TM1 lies in its rich flexibility to implement customized solutions for specific use cases. elKomSolutions uses this flexibility to build its business solutions for BI, corporate planning and financial consolidation. elKomSolutions software can be used as individual modules or as an integrated enterprise solution.

elKomKONS, the vendor’s solution for financial consolidation and close, offers integrated currency translation, comprehensive support for consolidated financial statements in accordance with HGB, IAS/IFRS, Swiss-GAAP and US-GAAP as well as an audit certificate in accordance with IDW PS 880. It enables the mapping and automation of various consolidation processes such as expense, income, debt and capital consolidation as well as the elimination of intercompany profits and losses and the posting of deferred taxes.

Strengths and challenges of elKomSolutions elKomKONS

BARC’s viewpoint on the product’s strengths and challenges.

Strengths

Unified CPM platform for financial consolidation, planning, budgeting and forecasting, reporting and analysis with built-in financial intelligence functionality. Available on premises and in the cloud.
The solution supports the flexible mapping of any group structure with simultaneous and successive consolidation and offers extensive reporting functions such as asset, capital and provision analyses as well as an integrated cash flow statement. It works with the IBM Planning Analytics TM1 OLAP technology and enables data management on a monthly, quarterly and annual basis for different versions (actual, plan, HR, etc.).
Rich flexibility to implement customized solutions for specific use cases. It can be used as individual modules or as an integrated enterprise solution for reporting, OLAP analysis, corporate planning and financial consolidation.
elKomSolutions achieved excellent customer feedback in this year’s survey. In addition to strong results in the Business Value, Customer Satisfaction, Performance Satisfaction and Consolidation Functionality KPIs, customers praised its predefined data connectivity and data integration into the product’s proprietary multidimensional database. elKomSolutions offers a strong collection of connectors to ERP and financial accounting systems via IBM Planning Analytics TM1 Turbo Integrator.

Challenges

Small local vendor with a strong focus on its home markets in the DACH region. While the product’s head-to-head win rate is good, elKomSolutions’ software does not have the market presence to be widely considered for purchase. Prospects with extensive implementation requirements should evaluate similar references and the consulting and support capabilities of the vendor.
elKomSolutions leverages the IBM Planning Analytics TM1 technology stack in its platform. Technical changes to the technology stack by IBM could potentially invalidate or impair elKomSolutions' functions.
Relatively limited functionality for disclosure management and individual ESG reporting. However, ESG reports can be built individually using the elKomBI module.
Very limited resources to further develop the product. This reduces its innovative power for further development to address functionality and current trending topics. Overall, it has a rather slow speed of development and innovative power compared to competitors.

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elKomSolutions elKomKONS User Reviews & Experiences

The information contained in this section is based on user feedback and actual experience with elKomSolutions elKomKONS.

The information and figures are largely drawn from BARC’s The BI & Analytics Survey, The Planning Survey, The Financial Consolidation Survey and The Data Management Survey. You can find out more about these surveys by clicking on the relevant links.

Who uses elKomSolutions elKomKONS in a financial consolidation context and how

Product usage (financial consolidation)

Company size

Number of consolidation users

Accounting standards

Number of consolidated subsidiaries

Why users buy elKomSolutions elKomKONS and what problems they have using it

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Full user reviews and KPI results for elKomSolutions elKomKONS

All key figures for elKomSolutions elKomKONS at a glance.

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Individual user reviews for elKomSolutions elKomKONS

Role

Head of business department

Number of employees

100 - 2.500

Industry

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Flexible Auswertungen mit TM1-Explorer und Perspectives, flexible Gestaltung von Reports durch Anwender, Excel als Frontend.

What do you like least/what could be improved?

Datensicherheit und Bedienerfreundlichkeit in Verbindung mit Benutzerrechten und Rollenkonzepten. Belegnachweis im manuellen Journal.

What key advice would you give to other companies looking to introduce/use the product?

Mindestens zwei Key-User müssen in der Software intensiv geschult werden.

How would you sum up your experience?

Insgesamt positive Erfahrung, jedoch stark abhängig von kompetenten Anwendern.

Role

Head of business department

Number of employees

100 - 2.500

Industry

Manufacturing

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Klare, menügeführte Struktur. Ablauf Konsolidierung. Anbindung Reporting-Tool sehr gut (Output-Report in Excel, benutzerfreundlich anpassbar). Völlig flexible Gestaltung der Input-Tabellen (Spiegel). Webbasierter Zugriff (von extern) wird unterstützt. Jede Buchung und Veränderung wird journalisiert/dokumentiert.

What do you like least/what could be improved?

Keine Online-Intercompany-Abstimmung (uns nicht bekannt). Komplexes Datenmodell (erschwerte nachträgliche Anpassungen), dafür ein hoher Grad an Flexibilität.

What key advice would you give to other companies looking to introduce/use the product?

Bei Fragen nutzt die gute Hotline (schnelle, fachliche Beantwortung).

How would you sum up your experience?

Flexible Standardlösung für die legale Konzernkonsolidierung und das Konzernreporting.

Role

Project manager for consolidation from business department

Number of employees

100 - 2.500

Industry

Construction

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Die Flexibilität. Es ist möglich, vieles selbst zu warten und eigene Reports zu erstellen. Bei Fragen oder wenn man komplexere Berechnungen benötigt, erhält man schnell und unkompliziert Hilfe bzw. Support.

What do you like least/what could be improved?

Wir sind sehr zufrieden und sehen zur Zeit keine Verbesserungen.

What key advice would you give to other companies looking to introduce/use the product?

Nutze das große Know-how von elKomSolutions.

How would you sum up your experience?

Ich habe nur gute Erfahrungen gemacht.

Role

Head of business department

Number of employees

100 - 2.500

Industry

Manufacturing

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Der Anbieter verfolgt aus unserer Sicht die Strategie, nicht auf viele Beratungstage zu drängen, sondern das Unternehmen in relativ kurzer Zeit dazu zu befähigen, selbstständig mit der Software umzugehen. Darüber hinaus erhält man mittelstandstaugliche Expertisen aus der Controlling- und ElKom-Erfahrung, wie man Themen lösen kann. Wir werden die TM1-IBM-Datenbank als BI-System ausbauen und über automatische Schnittstellen zu den Vorsystemen wie SAP sowie zu nachgelagerten Reportingsystemen wie Power BI und der Veröffentlichung in Teams im nächsten Jahr erweitern.

What do you like least/what could be improved?

Ich sehe derzeit kein wesentliches Verbesserungspotential aus unserer Sicht.

What key advice would you give to other companies looking to introduce/use the product?

Nicht jede Software hält final, was die Stichworte auf dem Prospekt versprechen. Somit immer Referenzkunden mit ähnlicher Aufgabenstellung anschauen.

How would you sum up your experience?

Wir sind hier seit vielen Jahren sehr zufrieden und bauen aktuell die Systemlandschaft auf Basis von ElKom weiter als BI-System aus.

Role

Project manager for consolidation from business department

Number of employees

100 - 2.500

Industry

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 11/2024

What do you like best?

Einfache Handhabung, schnelles Ergebnis.

What do you like least/what could be improved?

Keine Einwände.

What key advice would you give to other companies looking to introduce/use the product?

Einen Rat kann man nicht geben, nur überzeugen.

How would you sum up your experience?

Ich habe seit 14 Jahren Erfahrung mit elKomSolutions als Anwendung für die Konsolidierung von mehr als 10 Gesellschaften und hatte nie Probleme, sondern konnte nur von der Schnelligkeit des Tools profizieren und am 3. AT ein Konzernergebnis jeden Monat rechnen.

Role

Project manager for consolidation from business department

Number of employees

100 - 2.500

Industry

Manufacturing

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Die Flexibilität der Software an sich und die Excel-Integration. Es ist mit Abstand die beste, schnellste und flexibelste Konsolidierungssoftware, die ich kennengelernt habe.

What do you like least/what could be improved?

Die Technik von elKomSolutions ist unangefochten. Einzig das Front-End des elkomkons ist etwas aus der Zeit geraten und könnte auch neue Funktionalitäten vertragen.

What key advice would you give to other companies looking to introduce/use the product?

–

How would you sum up your experience?

Die Zusammenarbeit mit Herrn Merk, der Vertrieb, technische Implementierung und Service/Maintenance alles aus einer Hand abgedeckt hat, war exzellent.

Role

Head of business department

Number of employees

More than 2.500

Industry

Manufacturing

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Hohe Flexibilität, Möglichkeit, viel selbst zu administrieren. Hohe Erreichbarkeit und Kompetenz der Berater bei ElKomSolutions.

What do you like least/what could be improved?

–

What key advice would you give to other companies looking to introduce/use the product?

Die Vorteile von ElKomSolutions kommen meiner Meinung nach am besten zum Tragen, wenn es viele Mandanten mit hoher Fluktuation gibt. Dann zahlt sich die Flexibilität aus.

How would you sum up your experience?

Durchweg positiv.

Role

Line of business employee

Number of employees

More than 2.500

Industry

Manufacturing

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Machbarkeit, Überschaubarkeit, Möglichkeiten der Excel-Auswertung. Zu beachten: Durch die Nutzung nur für Reporting und manuelle Erfassung der Planung entfallen eventuell Kritikpunkte. Die neue elKom-Variante ist geplant und sieht vielversprechend aus. ElKom-Mitarbeiter sind effizient und ergebnisorientiert.

What do you like least/what could be improved?

Keine proaktive Kommunikation, fehlender Web-Auftritt, Risiko aufgrund der Unternehmensgröße.

What key advice would you give to other companies looking to introduce/use the product?

Unkomplizierter als SAP, alle Ansprechpartner sind kompetent, Machbarkeiten werden immer erreicht. Keine Abzocke bei elKom, keine Beratungsstunden um jeden Preis, sondern lösungsorientierte Ansätze.

How would you sum up your experience?

Nichts ist perfekt. ElKom ist sehr gut. Jeder Mitarbeiter arbeitet kooperativ und sucht sofort nach Lösungen.

Role

Project manager for consolidation from business department

Number of employees

More than 2.500

Industry

Process industry

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Nahtlose Integration von legaler Konsolidierung, Management-Konsolidierung sowie Planungs-/Forecast-Prozessen und damit die Bedienung des Managements bzw. der Adressaten mit einheitlichen und somit vertrauenswürdigen Daten (Trusted Data).

What do you like least/what could be improved?

–

What key advice would you give to other companies looking to introduce/use the product?

–

How would you sum up your experience?

Kompetenter Partner mit hoher Verfügbarkeit und damit Reaktionsgeschwindigkeit.

Role

Project manager for consolidation from business department

Number of employees

More than 2.500

Industry

Manufacturing

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Die Nutzung in Verbindung mit TM1, die Transparenz und der schnelle, anwenderbezogene Support.

What do you like least/what could be improved?

Die Bedienoberfläche der Web-Oberfläche.

What key advice would you give to other companies looking to introduce/use the product?

Die Anwender sollten eine hohe Technikaffinität aufweisen.

How would you sum up your experience?

Von der Einführung bis zum laufenden Betrieb gab es stets eine sehr gute Zusammenarbeit.

Role

Project manager for consolidation from IT

Number of employees

More than 2.500

Industry

Media/Publishing

Source

Invited by the vendor, Financial Consolidation and Group Accounting Survey 25, 10/2024

What do you like best?

Die einfache Möglichkeit manuelle Buchungen zu automatisieren.

What do you like least/what could be improved?

Die Bezeichnungen der Dimensionen und Cubes sind nicht selbsterklärend und erfordern daher mehr Einarbeitungszeit.

What key advice would you give to other companies looking to introduce/use the product?

Für eine umfassende IT-Prüfung fehlen dem Tool einige Funktionen, die jedoch nachträglich und kundenspezifisch implementiert werden können.

How would you sum up your experience?

Das System konnte mit vergleichsweise geringem Aufwand eingeführt werden und bietet eine hohe Transparenz hinsichtlich des Audit-Trails. Außerdem ist das System durch die Basissoftware sehr flexibel anpassbar und erweiterbar.

Survey Information

Number of reviews for elKomSolutions elKomKONS

Reviewed versions

100 % Version 11

Peer groups in the survey

Products for Financial Consolidation, Small and Midsize Deployments

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