Close Management

Take control of the time and energy required to complete the period-end close

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Cadency users reported up to a 30% reduction in time to complete close tasks
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Challenge

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.

Capabilities

  • 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.

Key Benefits

Workflow VisibilityWorkflow Visibility

Manage all aspects of a reliable and repeatable process

Dynamic ProcessDynamic Process

Create action plans for identified bottlenecks

Audit EaseAudit Ease

Provide external auditors access to detailed documentation

ERP IntegrationERP Integration

Connect with multiple ERP applications/instances

Progress ClarityProgress Clarity

Understand the status of your close across entities

With Cadency, we now have visibility into the financial close process on a daily basis, as well as harmonization and standardization across all our countries and entities. So, a close process being done in Peru is the same process being done in Germany or the United States.

-Ingram Micro

Transformative System of  Financial Controls

Cadency is the only System of Financial Controls that weaves all R2R activities into a single, seamless process. Its centralized process integration enables visibility and reliability throughout the cyclical financial close process, while also reducing cost and risk for your organization.

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Other Cadency Processes

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Reduce the time and risk associated with testing controls and supporting audits

Disclosure Management

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Take control of your error-prone and complex reconciliation process

Reconciliation Match

Reduce the time and risk associated with the transaction matching process

Variance Analysis

Gain visibility and control with timely analysis