Posts Categorized: Month End Close

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February 6, 2019
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R2R Automation Framework: Artificial Intelligence

Have you heard that Machine Learning (ML) and Artificial Intelligence (AI) are enabling computers to win at chess, using weather data to improve profits and providing insights previously never imagined? It’s true, and Trintech is in the process of building out ML and AI technologies that help you improve your controls in your financial close...

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February 6, 2019
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R2R Automation Framework: Risk Intelligent RPA

Hopefully by now as you have been reading our latest blog series on Trintech’s automation framework, you understand the key tenants of our vision includes: Leveraging your existing natural system(s) of record which allows you to maximize your ROI on those investments by keeping those systems as the vehicle to create the permanent record of...

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February 6, 2019
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R2R Automation Framework: ERP Bots

What is an ERP Bot and how does it help my financial system of controls? Over the last few years I have spoken with several of our customers, and there has been one consistent theme that stands out amongst them all – RPA. During these discussions customers typically fall into one these categories: Excited that...

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February 6, 2019
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R2R Automation Framework: 3rd Party RPA Connectors

Supporting Broader Automation throughout the Office of Finance As the Office of Finance is becoming more and more strategic in adding value and providing guidance to other parts of business, its trying to gain maximum efficiencies internally in order to have the employees spend their time on strategic initiatives and not on manual, repetitive tasks....

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February 6, 2019
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R2R Automation Framework: APIs

I was recently talking with a Record to Report (R2R) thought-leader at a $30B food and beverage retailer and they were in the process of reviewing their R2R organizational structure. Their global team included the expected responsibilities of Account Reconciliation, Disclosure Management and Statutory Reporting but it was great to see that they had expanded...

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February 6, 2019
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R2R Automation Framework: ERP Connectors

Organizations have naturally built up their internal financial application ecosystem through acquisition and sheer necessity. While well intentioned, this means we end up with a slew of disparate internal applications all leaning on the thin internal IT team with a 6-month lead time before they can even consider new requirements for integration with the system...

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February 6, 2019
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How to Improve Controls, Reduce Risk and Lower Costs with a Record to Report Automation Framework

Due to the lack of confidence around the accuracy of their financial reporting, finance organizations are undertaking Record to Report (R2R) transformations that target the goals of lowering cost, increasing operational support, reducing risk and improving controls. With the emergence of leading technologies such as Robotic Process Automation (RPA) in the office of finance, more...

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February 5, 2019
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How a Global System of Controls Can Move Your Financial Reporting from Flipping a Coin to a Sure Investment

A recent EY survey of over 1,000 CFOs found that half are not even “somewhat confident” in their degree of financial reporting. In order to solve this challenge for CFOs, investors, pensioners and more, we must move financial reporting accuracy from a coin flip to near certainty. To do this requires us to revolutionize our...

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February 4, 2019
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Content We Love — The Changing Role of the CFO

For the past ten years, the role of the CFO — in addition to their accounting team’s function — has rapidly evolved. The CFO is no longer regarded as simply a number cruncher but is now required to step into the role of financial strategist, and an interesting EY study, The Changing Role of the...

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February 4, 2019
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Content We Love — Why CFOs are Making the Financial Close a Non-Event

How productive is your R2A (Report-to-Analyze) process? As accountants, we talk about the Record-to-Report (R2R) process quite often. Less discussed is your R2A process – when important business decisions and financial close process improvements are formulated. However, because companies perform their R2R process with inefficient manual work, there is little time remaining for financial planning....

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