FICO covers the core financial and controlling backbone: chart of accounts, cost and profit center accounting, asset accounting and the close process itself.

For Riyadh businesses, it needs to be designed with Zakat and VAT reporting requirements built in from the start, rather than reconciled separately outside the system each period.

Chart of accounts designed for Saudi reporting from the outset

The chart of accounts needs to serve statutory reporting, management reporting and Zakat calculation at once, structured so all three come from the same ledger. Getting this right at the outset avoids a costly restructuring after go-live, when transaction history has accumulated against it.

Cost and profit center accounting matched to how you track performance

Configuration is built around how your business tracks cost and profitability internally, whether by project, product line, branch or department. A generic structure can produce technically correct numbers that nobody finds useful for decisions.

Month-end close configured to shorten the cycle

Automated allocations, accrual processes and reconciliations are built to reduce close time. The goal is stated explicitly at the start of configuration, not treated as an incidental benefit that may or may not materialize.

A hypothetical example

Consider a trading group whose FICO configuration was implemented years ago around a generic close process, leaving substantial manual reconciliation between subledgers each month. Reconfiguring automated allocations and building a defined close calendar with clear ownership at each step would be the starting point.

Support through your first live closes, not just go-live

We stay engaged through the first real closes after go-live instead of leaving once the system technically works. Issues that surface only under real transaction volume and deadline pressure are what testing on sample data does not reveal. We recommend stating this continuity in the contract instead of assuming it is included.

Coordinating with your external auditor during design

Taking your external auditor's expectations into account during configuration design, rather than only when the first audit begins, means the reporting structure in FICO meets audit requirements from the start. The same principles run through our control framework design and audit and assurance services work.