Today, I wanted to write about the internet’s favorite topic (cats, obviously) but they told me I have to write about something that’s relevant to our business (what is that about?), so now we’re both stuck with this article about optimizing the financial close process.
Here’s the thing – there’s a pretty good chance your financial close is harder than it needs to be. This could be because of a few different reasons. Maybe you have many employees all contributing from different locations, making communication and visibility into your processes difficult. Maybe your close is riddled with too many manual tasks and it just takes too long.
Wouldn’t it be great to have a solution designed specifically for your financial close? A financial close management solution helps bridge communication gaps by giving close managers a bird’s eye view of the process and allowing them to delegate tasks and create workflows. Employees will then be able to collaborate from different locations on one system where they can see into the other parts of the close process and complete their tasks more efficiently.
This optimization of the financial close process comes with its fair share of benefits in addition to improved communication and reduced time. Because these solutions automate data entry much of the time, your reported numbers will be more accurate. Your costs will be reduced when your processes are more efficient, and your company’s relationship with investors will improve as they see your reports are consistently accurate and on-time. You will have access to critical reports sooner for important decision making, and because our solution provides a complete audit trail throughout your process, your compliance will improve, too. There’s all these benefits AND it’s an easier process. It’s a win-win.
I know I rattled those off pretty fast, but if you’d like more information about what our financial close solutions can do, connect with one of our business process experts below!