Posts Categorized: Record to Report

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July 27, 2017
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Building a Convincing Business Case to Replace Record to Report Spreadsheets

Excel and spreadsheets are great tools and oftentimes the backbone of many organization’s Offices of Finance and Accounting, and have been for decades. Whether it’s for financial, analytical and/or operation processes, companies have looked to those spreadsheets for answers. But in today’s modern business world and in companies dealing with complex and high-value balance sheets...

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July 24, 2017
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Why Financial Transformation Projects Fail

The primary objective of any financial transformation project is to achieve process improvements by increasing the quality, effectiveness and efficiency of financial information, ultimately enhancing shareholder value. The challenge with financial transformation, however, isn’t why you would do it, but how you do it. While all projects being with the intent of success, often times many...

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July 20, 2017
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Driving Excellence Across Your Shared Services Center with Record to Report Automation

With an eye on overall process performance, one of the constant objectives of forward-looking or more mature Shared Services is more control of a process from end-to-end. A recent report published by SSON, “2017 SSON State of the Industry Report,” states that more than two thirds of respondents are targeting end-to-end process management, implying Shared...

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June 30, 2017
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Prevent Increases in Audit Fees During Mergers and Acquisitions

Does your company have plans to undergo a merger or acquisition in its future? If so, you may face an increase in auditing fees, writes David McCann for CFO.com. In looking at the list of the organizations with the top 10 audit fee increases for Fiscal Year 2016, six were identified as having recently merged...

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June 13, 2017
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Smart RPA is Risk Intelligent RPA™

From Leonardo da Vinci sketching humanoid robots to the introduction by General Motors in the early Sixties of Unimate, the world’s first industrial robot, the vision of robotics has evolved immensely over the years. Today, we have entered a period where robotics continues to expand across our everyday lives, automating the low-value, menial tasks so...

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June 1, 2017
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Why It Is Critical to Focus on the Entire Record to Report Process Rather Than the Individual Parts

The office of finance is tasked with improving finance efficiencies and reducing costs while providing higher quality, higher value service to the business. In short, delivering more with less. However, without effective Record to Report (R2R) technology, finance organizations struggle with a lack of standardized processes, bottlenecks in their workflow, and poor visibility, further complicating...

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May 18, 2017
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True Measure of the Close: Time + Effort + Quality

The old adage states that what gets measured gets managed. With that in mind, how can we ensure the metrics we are implementing have the right impact on the performance of our Record to Report process...

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March 28, 2017
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Moving from Continuous Accounting to Risk Intelligent RPA™

Over the past few years, topics such as: “Modern Finance,” “Continuous Accounting” and “Robotic Process Automation” have all created buzz across the finance industry. These topics have been launched as a response to the challenges facing finance around attracting and retaining high quality employees, the rising risk due to the difficulty in certifying accurate data, and...

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March 13, 2017
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Enabling Financial Transformation through Technology

Cloud-based technology, Robotic Process Automation and outsourcing have all revolutionized the way in which companies around the world are managing the efficiency and effectiveness of their financial close processes. Even within the office of finance, a traditionally risk averse function, companies are realizing that performing menial, manual activities by hand simply isn’t efficient or effective...

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October 25, 2016
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What Can We Do Now to Improve Our Financial Processes in 2017?

Research from PwC states that the number one method finance professionals identify in making their finance processes more effective is improving their finance technology. While we obviously can’t ignore the people and the process, the biggest driver for change within these three is often technology. It helps to underpin and enforce standardized processes and enables...

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