Cadency Accounting Close Software
With its dashboard-driven management framework supporting all aspects of your period end, Cadency Close will allow your finance team to identify bottlenecks and communicate potential issues early and often, greatly reducing the possibility of missed deadlines and ensuring the accuracy and completeness of your financial statements.
Take Control and Have Audit-Ready Visibility to Complete the Close with Efficiency
Improve the management of your financial close process by moving away from manual spreadsheets, eliminating time-consuming meetings, gaining visibility into potential bottlenecks and improving documentation practices through automation.
Organizations who rely on Cadency Close are seeing up to:
Unlock the Powerful Capabilities of Cadency Close Management
Cadency Close is part of the powerful Cadency platform and integrates with all the key Record to Report activities including account reconciliation and certification, journal entry management and compliance. Its task management framework allows your finance team to assign tasks based on criticality, implement controls, identify bottlenecks and communicate potential issues early and often, greatly reducing the possibility of missed deadlines and ensuring a more accurate financial statement.
By using Cadency Close to automate and document your period end, you’ll be able to take command of and have audit-ready visibility into the entire financial close process.
Dashboards
Implement intuitive and comprehensive dashboards that provide real-time visibility into the status of close tasks, with alerts, progress updates, and critical documentation readily available.
Integration
Seamlessly integrate close task management tools with existing financial systems, ERP software, and other data sources to maintain consistency and enhance data accuracy across platforms.
Action Plans
Pre-built sequences of steps or actions that are automatically delivered to specific individuals with instructions and any associated reference materials necessary to ensure completeness.
Collaboration
Facilitate enhanced collaboration options within the system, enabling team members to communicate effectively, share documents, and manage close tasks collectively and efficiently.
Workflows/ Escalation
Define automated workflows for task management and establish clear escalation protocols to ensure tasks are addressed promptly and by the appropriate level of management.
Automation
Employ advanced automation strategies to minimize manual intervention in the close process, from task initiation and monitoring to completion and review, thereby optimizing efficiency and accuracy.
Real Results. Real Impact
Boston Scientific Corporation Standardizes Close Processes as Part of Global Finance Transformation Initiative
Highlights
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Global scale, no added cost: Standardized close processes across 93 entities, 53 countries, and 29K+ accounts.
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Automation that boosts capacity: 4,400+ accounts auto-reconciled, reducing manual effort and indirect costs.
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Stronger control and visibility: Real-time KPIs and standardized workflows improved productivity and SOX compliance globally.
Overall, we’ve seen significant indirect cost savings with [Trintech] by way of auto-reconciling accounts and risk-stratifying the balance sheet, taking time out of our finance processes. These result in direct cost savings and capacity increases.
Read Case StudyLKQ Reduces Days to Close While Executing Over 100 Acquisitions with Trintech
Highlights
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High Automation Rate: Achieved 90% auto-reconciliation of intercompany transactions, enabling quick identification and resolution of issues
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Scalable Growth: Executed over 100 acquisitions without increasing headcount
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Standardized Processes: Unified financial close tasks across all entities, replacing 25 separate Excel spreadsheet with a centralized system
With Trintech, we’re able to not only see what we’re doing, but also what bottlenecks are preventing items from moving forward. Overall, our end users can now spend more time analyzing the data instead of manually managing it.
Read Case StudyCoty Achieves Global Process Standardization and Significant FTE Savings with Trintech
Highlights
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Process Standardization: Tasks categorized based on month-end and non-month-end for streamlined reporting and task status tracking.
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Global Calendar Alignment: Standardized task checklist timelines across the organization to improve organizational reporting.
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Cost Savings: Streamlined process for reduced manual effort that resulted in approximately 15 FTEs saved.
Trintech has played a critical role in Coty’s financial transformation with Accenture, streamlining their financial close processes, reducing manual efforts, and driving value across the organization.
Read Case StudyBefore Trintech, our customers had a lot of challenges, specifically around management's visibility into tasks and reconciliations. It was difficult to understand where they were in the financial close process.
Learn More About Cadency
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Cadency Platform
Discover a Comprehensive Solution
Cadency Close Management is part of the Cadency platform, a leading enterprise solution for Record to Report (R2R) processes. The platform provides controls that enhance efficiency and effectiveness for the Office of Finance while reducing risk and costs. Cadency unifies all R2R activities into a seamless, ERP-agnostic platform.
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Learn More About Cadency Close Management
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