Close Management

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

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.

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 of Financial Close Automation

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

Features such as the ability to group accounts and the ability to set accounts to be auto-reconciled helped us save time for our accounting teams. Additionally, we now have standardized approaches for balance sheet reconciliation and manual journal entries, which is important for our financial reporting because all accounting teams now follow the same process and have the same understanding of what is expected.

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.


Does Your Enterprise Use the ServiceNow® Platform?

Discover CadencyDirect® – the only native Built on Now® application for the ServiceNow Platform that is designed specifically for the unique needs of the Office of Finance. Powered by Trintech’s industry-leading solution Cadency, ServiceNow customers can leverage the benefits of the System of Accounting IntelligenceTM while enabling Now Platform users across the business with native workflows and triggers.

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Other Cadency Processes

Balance Sheet Reconciliations

Take control of your error-prone and complex account reconciliation process

Compliance

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

High-Volume Transaction Matching

Reduce the time and risk associated with the transaction matching process

Intercompany

Create a reliable, predictable and efficient intercompany accounting process

Journal Entry

Reduce risk and drive efficiency by automating your journal entry process

Variance Analysis

Gain visibility and control with timely analysis