1 4 260x320 - 3 Ways to Accelerate and Improve the Financial Closing Process

1 4 - 3 Ways to Accelerate and Improve the Financial Closing ProcessAccurate and timely financial reporting is critical to the health of a business. Bad financial reporting can result in high operations costs, poor business decisions, a lower share price, and regulatory fines.

Yet the financial close and reporting process at most businesses requires staff to hurriedly track down information, pour over spreadsheets, and plead with coworkers for timely analysis. Even with strong enterprise resource planning (ERP) and reporting software in place, most businesses rely on multiple checklists and spreadsheets to manage their monthly, quarterly, or annual financial close process.

Accelerated financial reporting management solutions make it easy for businesses to access required information, collaborate to make adjustments, review changes, analyze data, and audit every task.

These accelerated solutions transform the financial close process in three fundamental ways by:

  • Increasing confidence in closing completeness
  • Reducing labor costs
  • Allowing staff to continuously improve processes over time

This white paper explains the three ways automation improves financial operations visibility and reporting, and details three companies benefiting from automation.

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