The SI consolidation functionality does make it much easier to consolidate than any process we had used in the past. The key for us was ensuring that the consolidation model eliminated the correct accounts, and that the appropriate balance sheet items were excluded. Unfortunately the initial build of the consolidation engine by our consultants was not set up properly, which required additional consulting costs after the initial implementation. If you head down this route be sure to invest enough in training to get the best out of this functionality, which was mission critical for us.
In terms of related processes, the key changes for us came upstream of the consolidation functionality (e.g. setting up the dimensions, overhauling our GL and standardizing coding and data entry across our global organization). This allowed the consolidation to report like for like more than had been the case in the past.