Thirdware Solution Limited, the Mumbai-based technology solutions company, has entered into a marketing tie-up with Hyperion Solutions Inc of the US to offer the 'Hyperion Enterprise Tool'.

The software will help banks to prepare consolidated results and carry out segment reporting.

"The Hyperion Tool is a rules-based software that will monitor transaction systems of banks in the regional/ zonal offices and the headquarters. At each level, it will 'dice and splice' data from the bank's ERP (enterprise resource planning) package, customised applications or the financial accounting system so that segmental reporting can be done as per the capital markets regulator's norms and management reports can also be generated," Pradeep Erinjery, director, Thirdware Solution, said.

In regard to financial consolidation, he said the Tool is so programmed that it will present a picture to both the shareholders and regulators on inter-company revenues and balances; allocate revenue, expenses and net assets to segments by entity, account and time; and provide information on change in ownership, control, acquisitions.

Further it (the software) will aid in multi-tier consolidation and also reclassify segment numbers on the basis of net earnings/net assets.

In regard to the financial consolidation, a working group of the Reserve Bank of India has said that a parent presenting consolidated financial statement should consolidate all subsidiaries (domestic as well as foreign) .

The Securities and Exchange Board of India (SEBI) has made segment reporting (risk/ reward) mandatory for all listed companies.

Under this, a corporate has to disclose revenues, profits and capital employed in each segment that contributes 10 per cent to the overall revenues, operating profits and capital employed.