HOW APIs IMPROVE THE FINANCIAL CLOSE PROCESS
APIs have proven to be immeasurably useful because they facilitate connections between the confidential and secure systems of global companies and their third-party partners. As part of Cadency’s System of Accounting Intelligence, we’ve developed multiple APIs, such as the GL Balance Import API and Cadency Close Task API which reduce the time and risk associated with manual data transfers.
Many Cadency users benefit from the Bi-directional Cadency Close Task API which links your system(s) of record (ERP or non-ERP — Tax, Treasury, P-Card, etc.) to Cadency’s Close Action Plans. For example, if your intercompany and treasury controls are linked, once the intercompany controls in Cadency are completed, automation triggers a Treasury report to run on your Treasury system. Then, the status can be pulled back into Cadency (using the bi-directional workflow), enabling our automation to close the associated close task/s with proper documentation and audit history, reducing human efforts and making the process smooth.
Improving the financial close process through technology implementation centers around a desire to increase efficiency and reduce risk. The Cadency Close Task API enables data and status to easily flow between needed systems while maintaining set controls. The efficiency and effectiveness established help produce accurate financial statements, and ultimately more peace of mind every step of the way.
Talk to an expert for a complete list of APIs available.
FINANCIAL CLOSE CAPABILITIES
- Links controls across systems for financial statement integrity
- Automates alerts and actions based on established processes
- Develops custom connections for integrated process visibility
- Produces timely updates across activities
Webinar: How an Application Programming Interface (API) Creates the Completeness in Your Financial Close Process
For most organizations, the Office of Finance is challenged with disparate systems for key functions like Payroll, Tax, Treasury, etc.. These systems of record are...Watch Now
Simplifying Documentation Management with Cadency Close Task Field API
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Explore how Cadency’s System of Controls for Consolidation provides proper checks and balances, necessary reviews and approvals, and the ability to make adjustments before finalizing consolidated statements at the end of the accounting period.
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