Posts Tagged: Monthly Close Process

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July 19, 2018
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Achieving a Better, Faster, Cheaper Month End Close

Impact of Automation for a Fast Month End Close The common adage in terms of speed, quality and cost states that you can only pick two. In other words, if you want something done faster and better, you will have to pay for it. If you want something fast and cheap, you need to prepare...

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June 28, 2018
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Email Is Killing the Productivity of Your Month End Closing Activities

We would like to think that our relatively recent ability to communicate via email has improved our rate of productivity. However, studies have determined that to be vastly untrue. The Warwick Business School© found that, since 1973, productivity had only risen by 2%. Meaning, despite all our technological advances, we are barely more productive now...

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June 26, 2018
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5 Areas CFOs Need to Have More Control of in the Month End Close Process

Every CFO would like to believe that they consistently maintain tight control over the accounting team and their accounts and reconciliation processes. But in reality, this control can be extremely limited. In our recent market survey, we discovered that most CFOs admittedly continue to struggle to gain control over their monthly close process. In fact,...

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March 25, 2018
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How Automated Reconciliation Software Prevents Accounting Fraud

To prevent accounting fraud, your month end close process documentation may audited at any given moment, meaning it needs to be stored somewhere that’s safe, organized and easily accessible (for the right people only). But how? Over the last 10 to 15 years, several financial scandals have resulted in stricter regulations imposed on finance departments....

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November 7, 2017
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Why Excel, the Swiss Army Knife of CFOs, Is Hitting a Wall in Financial Reconciliations

Nowadays, Microsoft Excel has become an essential tool for any financial professional. The financial equivalent of a Swiss Army knife, it can perform an impressive array of calculations, graphics and other tasks. But here’s a question: Have you ever tried to drill a hole with a Swiss Army knife? This is the problem many financial...

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July 12, 2017
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Best Practices for the Month-End Close  

Any organization should be able to produce accurate and timely financial statements in a reasonable amount of time after the month’s end. Financial statements are crucial to management, so they can understand the financial health of the organization and make short-term and long-term operation and strategic decisions in a timely manner. An important tool in...

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