elKomKONS
Tuttlingen group consolidation on a TM1 database with an IDW PS 880 certificate
Quick Overview
| Company | elKomSolutions GmbH |
|---|---|
| Category | Financial Consolidation Software |
| Headquarters | Tuttlingen, Germany |
| Founded | Not stated |
| EU Presence | Yes - Germany (EU) |
| Data Location | not stated on the pages we read |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | not stated; the stack uses IBM Planning Analytics TM1 |
| Main Features | Group consolidation under HGB, IAS/IFRS, Swiss-GAAP and US-GAAP, currency translation, debt, capital, income and expense consolidation, deferred taxes, cash flow, Excel packages, Excel and web front end |
| Pricing | No prices shown on the pages we read |
| Best For | German-speaking mid-sized groups that need an IDW-certified consolidation and already use Excel and TM1 |
| Replaces | OneStream |
Detailed Review
elKomSolutions GmbH is a German company at Karlstraße 13 in Tuttlingen, registered at the Amtsgericht Stuttgart under HRB 450931. The imprint names Stephan Bischof as managing director.
The company supplies business intelligence, corporate planning and group consolidation software. elKomKONS is the consolidation product, which the vendor describes as a standard solution for legal group consolidation and group reporting.
What elKomKONS covers
elKomKONS prepares group accounts under HGB, IAS/IFRS, Swiss-GAAP and US-GAAP. The function list includes integrated currency translation, expense, income, debt and capital consolidation, interim profit elimination and automatic deferred tax postings.
The vendor states a software certificate under IDW PS 880.
Technology behind elKomKONS
elKomKONS runs together with the OLAP database IBM Planning Analytics TM1 and Microsoft Excel as front end, with an optional web front end. Data import from source systems runs through the TM1 Turbo Integrator.
Single-entity accounts can also be collected through group packages in Excel, so ERP interfaces are not strictly required.
elKomKONS as a European alternative to OneStream
elKomKONS offers a German vendor and an IDW-audited consolidation, but the engine depends on IBM software, so the stack is not fully European. OneStream is one unified platform, whereas elKomKONS joins several parts.
The pages we read show no prices, cloud option or hosting country.
Limitations to Consider
elKomKONS depends on IBM Planning Analytics TM1, so a licence from a US vendor is part of the stack. The pages we read show no prices, cloud offer or data location, and the website is mostly in German. For a SaaS-first option see Konsolidator.
Who Should Use elKomKONS
Controlling teams at German-speaking groups that need HGB and IFRS group accounts with a software certificate and already work in Excel on TM1.
Pros and Cons
Pros
- German GmbH with register court and number in the imprint
- HGB, IAS/IFRS, Swiss-GAAP and US-GAAP in one product
- Software certificate under IDW PS 880 stated
- Excel packages allow data collection without ERP interfaces
- Planning and BI modules from the same vendor
Cons
- Runs on IBM Planning Analytics TM1
- No prices shown
- No hosting or cloud details on the pages we read
- Web pages largely in German
Alternatives to elKomKONS
Other European financial consolidation software worth comparing before you decide:
See all European financial consolidation software or compare them directly against OneStream on our alternatives page.
Frequently Asked Questions
Yes, as a consolidation tool from a German GmbH. It relies on IBM TM1 as database, which OneStream does not.
The vendor lists HGB, IAS/IFRS, Swiss-GAAP and US-GAAP, plus a software certificate under IDW PS 880.
The pages we read do not mention a cloud version or a hosting country. Ask elKomSolutions for deployment options.