Financial Close Management Challenges
The financial close process requires a wide variety of tasks too burdensome for a manual operation to effectively manage. By using Cadency Close’s powerful capabilities, you can approach each period end with greater confidence and much more visibility into any potential bottlenecks. After all, achieving a faster, more compliant close is vital to increasing the Office of Finance’s strategic value as well as the reliability of your financial statements.
- Admins can view and assign individual tasks within the solution, based on project criticality, among users in different geographies
- Executive leadership can maintain access to period-end, quarterly and yearly activity lists in an exportable eBinder
- Establish and manage two-way communication between systems, even ERPs, regarding the status of close tasks and action plans
How it Works
With a dashboard-driven management framework, Cadency Close allows the finance team to maintain a constant communication flow, greatly reducing missed deadlines and ensuring the accuracy and completeness of financial statements. An eBinder creates a thorough record of all actions, making it easy to retrace every facet of the financial close, thus reducing the risk of material misstatement.