The role and value that finance and accounting present to the overall organization has transformed dramatically. Accountants are no longer viewed only as those who help the company stick to the budget and check boxes to adhere to various regulations and laws. Now, finance and accounting teams are expected to enhance the value of the organization by providing strategic support and insight as well as completing the Record to Report process.
However, the tools that the Office of Finance uses have not evolved with their responsibilities. Accountants in many companies still mainly utilize spreadsheets and manual processes that were created in the 1980s to produce financial reporting. This hinders the Office of Finance by consuming valuable resources and significantly increases the organization’s risk profile.
To more efficiently perform the Record to Report process and allow the Office of Finance time to provide critical insights to the business, the Cadency® System of Accounting Intelligence needs to be put into place. This accounting intelligence system enables organizations to effectively achieve cost savings and reduce risk.
Download this eBook to discover how Cadency’s® System of Accounting Intelligence can enable your organization to effectively achieve cost savings while reducing risk, taking your financial processes to world-class.