How Norlake Hospitality connects Financials by Coda and FP&A for faster, more confident consolidation
For organizations managing multiple entities, financial consolidation can quickly become complex. For Norlake Hospitality, a hospitality property developer and investor with assets across the UK and Europe, including the Scottish resort Gleneagles, that complexity meant bringing together financial information across multiple hotel and holding entities.
By implementing Unit4 FP&A alongside Financials by Coda, Norlake has created a more connected consolidation process, reducing manual effort and giving its finance team greater transparency, control, and more time to focus on analysis and decision-making.
The impact is significant: monthly consolidation effort has been reduced from two to four days of manual work to approximately one day focused on review and validation.
The challenge: moving beyond manual consolidation
Before moving to Unit4 FP&A for financial consolidation, Norlake relied on a manual and disconnected process. Although the group already used Unit4 Financials by Coda for core financial management, its previous consolidation setup did not provide a direct connection between financial data and the consolidation environment.
This created several challenges:
- Too much manual work: financial data had to be downloaded from Unit4 Financials by Coda and uploaded into the consolidation tool each month.
- A process that had to be rebuilt: the consolidation process needed to be recreated every reporting cycle, making it harder to work efficiently and consistently.
- Greater risk of errors: manual handling increased the potential for human error and reduced confidence in the process.
- Complex multi-entity reporting: multiple holding companies and hotel entities added further complexity to month-end consolidation.
- Limited transparency: investigating intercompany issues, identifying their root causes, and applying the right controls in the financial system was difficult.
Norlake needed a more connected approach that would reduce repetitive work while giving its finance team greater visibility and control.
The strategy: connecting Unit4 Financials by Coda and Unit4 FP&A
By implementing Unit4 FP&A alongside Unit4 Financials by Coda, Norlake created a more streamlined consolidation process in which financial data can move into the consolidation environment with fewer manual steps.
The result is a finance process with greater transparency and more time available for review, analysis, and decision-making.
1. Less manual work, more time for analysis
Reducing the manual effort involved in consolidation allows Norlake’s finance team to spend less time preparing files and more time reviewing results, analyzing variances, and strengthening financial controls.
As Sandeep Goyal, Finance Director at Norlake Hospitality, explains:
Unit4 FP&A saves us around two days every month, giving us more time to review the numbers, strengthen controls, and focus on higher-value analysis.
2. Greater confidence in financial reporting
Reducing manual touchpoints also helps improve data accuracy and lowers the risk of human error. With better transparency, Norlake’s finance team can investigate intercompany issues, identify their root causes, and correct them in the financial system.
That visibility gives the team more opportunity to review, reconcile, validate, and explain the numbers before reporting, strengthening confidence in consolidated financial information.
3. A more connected finance process
With Unit4 Financials by Coda and Unit4 FP&A working together, Norlake has established a more connected path between financial transactions and consolidated reporting. Financial data can move between the systems with fewer manual downloads and uploads, supporting greater transparency and clearer accountability.
For Norlake, the change has reduced monthly consolidation effort from as much as four days of manual work to approximately one day focused on review and validation, allowing the finance team to direct more attention toward higher-value analysis.
Read the full Norlake Hospitality customer story to discover how Unit4 Financials by Coda and Unit4 FP&A are helping its finance team streamline consolidation and report with greater confidence.
Ready to spend less time preparing financial data and more time analyzing it?
Discover how Unit4 Financials by Coda and Unit4 FP&A can support a more connected approach to financial management, planning, and consolidation.