2025 Top 5 Cloud Consolidation Software in Malaysia (Insight & Fee)

2025 Top 5 Cloud Consolidation Software in Malaysia (Insight & Fee) 1

2025 Top 5 Cloud Consolidation Software in Malaysia (Insight & Fee)

What is Cloud Consolidation Software?

Cloud consolidation software is which integrates a number of cloud applications, resources, and data involved in different cloud environments. It lets the organization manage all the cloud assets as one entity. In such a unified way, it gives total visibility of the whole cloud infrastructure. Resources are combined together to smoothen the business financially and operational. The company gets better visibility and control over its IT management. Overall, this software simplifies the complex financial consolidation of handling multiple cloud services.

2025 Top 5 Cloud Consolidation Software in Malaysia (Insight & Fee) 2

Why is cloud consolidation software important for business?

1. Smarter Compliance  Financial Reporting Processes

Consolidation software solutions place multiple charts of accounts in one place. It simplifies accounting statements and decision-making by enabling smooth adoption of accounting standards and adherence to all legal requirements in order to maintain compliance in a multi-cloud environment.

 

2. Accessibility of Data

The advantage of quick access to consolidated financial information is huge. This accessibility supports better budgeting, financial planning, and predicting, enabling informed business decisions based on real-time information.

 

3. Cost Efficiency

Among the most attractive benefits of cloud is cost savings. Unifying financial services under a single software provider allows organizations to optimize cloud computing spending. This reduces unnecessary expenses while maintaining productivity.

 

4. Scalability

A consolidation and reporting software can grow with the business financial intelligence to accommodate increasing data volumes and changing needs to run companies efficiently.

5 Best Cloud Consolidation Software

1. Syft

2025 Top 5 Cloud Consolidation Software in Malaysia (Insight & Fee) 3

Syft is a powerful analysis tool for financial and SBOM production. It’s easy to create consolidated financial statements or predictions with Syft. With an award-winning analytics platform driven by AI insights, Syft streamlines decision-making. Boasting 4.8 stars and over 200,000 users, it is widely recognized for ease of usability. Syft also takes security seriously and provides training resources.

Packages / Price Range

Standard, Plus, Advanced

RM85 - RM360

Free Trial

14 days free trial

Type of System

Financial Reporting Software

Key Feature of Cloud Consolidation Software

  • Automated Financial Management: Syft instantly reflects non-controlling interests. Also, Syft accounts for goodwill and inter-company depreciation through journals. These can be found in Syft or leveraged using Excel and Google Sheets.
  • Flexible FX Management: One can take control over more than 170 exchange rates with this software.
  • Advanced Reporting: Syft prepares entity-level and consolidated reports in clear, visually attractive formats. It prepares the required reports: P&L, Balance Sheet, EBITDA, Cash Flow, and KPIs.
  • Chart of Accounts Customization: Users can customize account classification and structure across the organization. Syft simplifies the creation and maintenance of layouts for P&L and Balance Sheets.
  • Trace Acquisition and Disposal: Syft does accurate tracking of acquisitions and disposals on all financial analysis. This provides proper accounting in all aspects.
  • Syft Assist AI: Close with automated consolidation repetitive consolidation tasks such as the consolidation and reporting financial processing of large information and detect patterns or anomaly points on financial information detail.

Security

Syft provides the world's only secure infrastructure that safely protects user information, meeting various strict industry standards for data security, including but not limited to single sign-on, two-factor authentication, and many more.

App Integration

Syft integrates seamlessly with leading tools like Xero. This connection allows users to automate routine tasks. It also improves data analysis on one platform. Organizations can easily consolidate their financial statistics.

Support

Syft provides great support such as personalized support. Live messaging and video chat are available for faster support. Customer Success Managers will also be dedicated to the customer's needs, providing consolidation cloud solutions that best fit the organizations.

2. Fathom

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Fathom is a software that helps businesses gain clarity on their financial performance and make informed decisions. The tool easily integrates with platforms like Xero, QuickBooks, and MYOB, reducing the setup consolidation and reporting processes. Users can delve into their financial results and create actionable strategies for improvement. With its comprehensive analysis tools, Fathom empowers businesses to understand their financial standing and meet future enterprise performance management goals.

Packages / Price Range

Starter, Silver, Gold, Platinum

RM280 - RM3,650

Free Trial

14 days free trial

Type of System

Cloud Based Software

Key Feature of Cloud Consolidation Software

  • In-depth Analysis and Reporting: Fathom provides periodic updates of the KPIs. It converts numbers into meaningful insights. Therefore, it helps the users to make intelligent decisions.
  • Financial and Cash Flow Forecasting: Fathom integrates business financial planning with three-way cash flow outlooking. The feature simplifies future planning for businesses.
  • Custom Financial Summaries: Through this, users can build custom management reports. Fathom provides charts of accounts customizable for the particular needs of your business.
  • Multi-Currency: The platform translates results in more than 95 currencies. It gives thorough financial analysis with the help of custom exchange rates.
  • Meeting Recording and Analysis: Fathom can automatically record meetings and transcribe audio. It highlights key sections and provides insights into viewer behavior and video performance with limitless users.
  • Non-financial Metric Integration: The tool aggregates non-financial results alongside financial information. This provides a complete assessment of business performance.
  • Easy Integration and Security: Fathom easily integrates with tools like Slack and Google Docs. It ensures data security through end-to-end encryption.

Security

Fathom is serious about the security of financial information. For that, they have put in rigorous mechanisms to safeguard it through regular independent audits and encryption. Strict access controls are applied to ensure only those who should access your data. Your data belongs to you, and you control your data. If you delete your data, it will be deleted in a Fathom secure environment.

App Integration

Fathom allows for speedy and accurate balance sheet consolidations. It supports the consolidation of up to 300 entities in one set of financial summaries. It connects all information from various systems such as Xero, QuickBooks, and MYOB.

Support

Fathom provides comprehensive support resources for users. These include articles on topics such as data import, reporting, anticipating, and user management. Users can find answers easily through FAQs and guides tailored to specific features and industries.

3. Spotlight Reporting

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Spotlight Reporting is a best-in-class consolidation software for accountants and business owners alike. It provides specialist financial documentation and forecasting. The platform caters to accountants, chief financial officers, advisors, and multi-entity organizations with Xero. Users will be able to access customizable performance reports, dashboards, and consolidations. Spotlight Reporting has huge backing from industry leaders. Extensive resources are also made available for support. This platform has made financial analysis and decision-making more straightforward for every business in search of effective consolidation solutions to their reporting needs.

Packages / Price Range

Basic, Super VCFO 25, Super VCFO 75, Enterprise

RM1,330 - RM4,450, Price of Enterprise discussed with Spotlight Reporting team.

Free Trial

14 days free trial

Type of System

Management Reporting Tool

Key Feature of Cloud Consolidation Software

  • Comprehensive Cash Flow Forecasting: Enables the user to create profit and loss statements, balance sheets, and cash flow predictions for up to five years.
  • Customizable Reporting: The platform offers more than one hundred customizable charts and templates tailored to industry needs.
  • Dynamic Rules and Driver-Based Forecasting: Users can set up dynamic rules that update financial accounts automatically when related data changes.
  • Efficient Consolidation: Spotlight Reporting simplifies financial summaries from multiple entities and supports multi-currency transactions.
  • Account Groupings: The 'Group Accounts' feature enables better readability and analysis by grouping related accounts.
  • Customer Support and Success Resources: Dedicated Customer Success Specialists offer onboarding support and advisory best practices.
  • Cash Flow Analysis Tools: Cash flow waterfalls help visualize cash movements in business, aiding strategic financial decision-making.

Security

Spotlight Reporting is ISO27001 certified and complies with GDPR regulations. It implements data encryption, user access control, Two-Step Authentication, and strict physical security measures.

App Integration

Integrates with major financial platforms like Xero, QuickBooks, and MYOB, as well as non-financial data sources like Google Analytics.

Support

Spotlight Reporting offers a well-organized knowledge base with product guides and FAQs categorized under reporting, forecasting, and dashboards.

4. Joiin

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Joiin is a cloud-based financial consolidation software allowing enterprises and accountants to consolidate the data from multiple companies. Cloud software will also roll data in an organized manner. Founded by a skilled finance team of professionals in 2018, Joiin recognized the need for an affordable management reporting solution. It automatically consolidates financial, sales, and KPI data; provides users with a convenient method of producing attractive reports and links seamlessly to Xero, QuickBooks, and Sage to make reporting seamless.

Packages / Price Range

Starter, Small, Medium, Large, X-Large, Unlimited

RM110 - RM900

Free Trial

14 days free trial

Type of System

Consolidated Group Financial Reporting Software

Key Feature of Cloud Consolidation Software

  • Global Search and Transaction Drill-Down: Integrate data from platforms like Xero, QuickBooks, and Sage. Global search allows users to surface any transaction in a second, enabling seamless consolidated group level reporting.
  • Multi-Currency Management: Joiin will automatically manage the conversions and streamline fiscal statistics consolidation across multiple currencies for accurate reports.
  • Custom Reports: Users can create tailored reports that meet their specific branding and formatting needs, ensuring alignment with business requirements.
  • Budgeting and Forecasting: It integrates with major accounting software for the inclusion of budgets and the use of outlooking tools effective planning.
  • Inter-Company Management: Joiin manages intercompany transactions, easing complexities related to loans and eliminations for businesses with multiple entities.
  • Collaboration Tools: Teams share reports and invite their colleagues to view or download them for better teamwork and communication.
  • User Controls: It also provides efficient user management and permissions to ultimately help businesses provide controlled access to reports, which is beneficial for accountants dealing with many clients.
  • Mobile Accessibility: With it, users can access data and reports from any device; it's responsive and pretty easy to use.

Security

With Joiin, data security is ensured via secure infrastructure, SSL connections, and two-factor authentication.

App Integration

Joiin connects to Xero to enable users to link multiple Xero entities and consolidate the data. In such a way, it makes the financial consolidation and reporting process of creating group reports easier. It also supports intercompany eliminations and multiple currencies. This helps users to keep their financial statements up to date.

Support

The knowledge base within Joiin will be one of the powerful support resources comprising guides, how-to tutorials, videos, and policy information, making this financial consolidation reporting software most valuable. It would be very easy for the user to find what they want, thus enhancing the user experience.

5. Calxa

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Calxa simplifies financial operations for companies, not-for-profits, and accounting firms by smoothly integrating with Xero. With daily synchronization and automation of financial statements, data becomes accessible. Users can create management reports and visual insights. They can also manage budgets for up to 10 years. Integration Calxa integrates with a variety of accounting systems, and one can easily link and schedule software updates. Import an existing budget or build a new one with in-app tools. It also gives automatic report deliveries based on a user’s own preferences.

Packages / Price Range

Premier1, Premier5, Premier50, Premier100, Premier200

RM1,000 - RM11,000

Free Trial

30 days free trial

Type of System

Cloud-Based Board Reporting App

Key Feature of Cloud Consolidation Software

  • Flexible Budgeting Tools: Import your existing budgets or build new ones in the software. The software allows adjustments for multiple scenarios and timeframes.
  • Cash Flow Forecasting: Calxa analyzes payment cycles and average creditor and debtor days. It generates accurate cash flow forecasts to help businesses manage finances effectively.
  • Customizable Report Templates: More than 150 modern report templates are available that can be tailored to meet the specific needs of the users.
  • KPI Tracking: While the software has a set of standard KPIs, users can also create custom metrics. This feature offers valuable insights into business performance.
  • User Management and Collaboration: Calxa makes permission management easy for its users. It allows multiple stakeholders to collaborate and ensures that all relevant information is at one's fingertips.
  • Automation and Workflow Triggers: Users can set up automated workflows. These workflows update accounting data and deliver reports directly to inboxes, saving time.
  • Advanced Reporting Capabilities: Advanced features of Calxa Premier include custom report design and multi-currency reporting. It suits power users and complex consolidation reporting requirements.

Security

Calxa promptly informs customers of confirmed Security Incidents. It provides necessary information for data breach reporting and takes steps to mitigate the impact. Calxa keeps customers updated on important developments.

App Integration

Calxa integrates with MYOB, Xero, and QuickBooks Online. This makes life easy for accountants because data synchronization is smooth and involves very minimal manual entry.

Support

Support from Calxa is provided in the form of step-by-step guides, webinars, and expert sessions. Webinars are recorded, and classroom training is available. Users can call or email for support.

Frequency Ask Question (FAQ)

1. Is Xero a cloud consolidation software?

Xero is a cloud accounting software designed for small and growing businesses. It provides a user-friendly online accounting platform that automates consolidation financial reporting and the synchronizing of data. Therefore, Xero is unable to perform consolidation within the system but integration with cloud consolidation software as above made consolidation work smoothly. Each cloud consolidation software will be able to extract data from one or multiple Xero accounts to perform consolidation.

 

Don’t know how to get started with Xero? Here is the trusted partner for Malaysia. A free 30-minute discovery call is available for everyone.

2. What is the difference between cloud consolidation software and cloud inventory software?

Cloud consolidation software and cloud inventory software have different functionalities. Cloud consolidation software consolidates financial data from different software sources. It automates processes such as multi-currency translations. This software provides a single view of financial reporting. It is very helpful for companies with several subsidiaries. It enables them to change according to changing business needs.

 

Consolidation system is for the management of financial data, and cloud inventory software is meant for managing inventory. Its tools include bar code scanning and low-stock alerts. Users can even create purchase orders directly from the platform. To put it all together, the former deals with financial data management, and the latter controls the inventory.

3. What are the factors to consider when selecting a cloud consolidation platform?

In the selection of the best cloud consolidation platform, consider features such as multi-factor authentication and role-based access. These ensure that your data is well protected. Look for efficient user account management that will enable easy onboarding and self-service software options. A broad catalog of software vendors and products is necessary to meet business needs. Also, the platform should support seamless provisioning and ordering. It should also enforce eligibility rules to minimize errors. Above all, robust billing management and custom reporting are critical to track your expenses and optimize revenue. These factors will further enhance your cloud management experience and operational efficiency.

4. What are the disadvantages of consolidating data into a centralized cloud?

Some disadvantages of data centralization in the cloud are centralization of data in the cloud increases the possibility of data breaches and other security concerns. It may be very costly and expensive to pay for power, cooling, and IT staff. Successful consolidation requires data quality that is accurate.

 

Financial consolidation and closure of various systems might lead to incompatibility. Resource management becomes a challenge, which needs more personnel and bandwidth. The different laws governing each data center bring about legal challenges. Centralization leads to one point of failure, which may lead to loss of data in the event of an outage. There are also serious privacy concerns, especially with sensitive information.

Conclusion

A financial close and consolidation solution has become irreplaceable in modern business. It enhances financial performance management, making data more accessible. It makes the compliance consolidation process easier, even as they make things more cost-effective. The platforms assure better insights for decision-making. 

 

Xero works perfectly in small businesses. Connect Xero with your business through Caltrix Asia to have maximum utilization of time-saving and efficiency. Process of creating consolidated financials will be the simplest. 

 

Choosing the best financial consolidation software is key to helping a business streamline its operations for better visibility and control of financial data and addressing the challenges of a centralized cloud environment. These tools are expected to help organizations do financial management tasks more efficiently while scaling up their operations.

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