The financial close process is typically made up of a repeatable series of activities, performed in a specific sequence, by specific people and by specific due dates. It sounds straightforward, but for some organizations, this process becomes chaotic due to late adjustments, confusing email chains of approval and lack of document standardization – simply known as financial close bottlenecks.
Frequently, these bottlenecks slow down your financial close process, wasting valuable time through rework and can cost your company money as well as increase the risk of a misstatement.
Download this eBook to discover the top five financial close bottlenecks that could be affecting your organization and how to overcome them with Record to Report technology:
- Continuous Interruptions
- Lack of Standardization
- Unnecessary Activities
- Exception Management