Financial Close Management Software

Manage your entire financial close cycle in one place, resolve your speed and accuracy challenges, and free up your team to focus on high-value work while delivering critical information to the organization.

Create Ownership & Accountability

Improve Efficiency

Reduce Your Risks

Streamline the Financial Close Process

Tired of manually creating lists, checking off completed tasks and preparing documentation to overcome the complexity and avoid the risk of a material misstatement? If the financial close process continually challenges you, it’s time for a change.

Operational Inefficiencies

Your organization struggles to effectively and efficiently close their books each period in a timely manner? Automation helps you manage your close task list, so you spend less time emailing, comparing versions, meeting, printing, and reentering data. Now you can focus on higher-value work such as analyzing data to help drive critical business decisions.

Gain Visibility into Close Tasks

With real-time visibility into the current status of the close process, your finance and accounting team could be quickly tracking the progress, exceptions, KPIs, tasks, and issues that might be slowing down the overall process. By improving visibility with the right technology you can not only reduce your days to close, but also significantly reduce risk.

Financial Statement Risk

Automated workflows say goodbye to fragmented financial close operations that compromise data accuracy and supply your team with visibility and transparency instead. Now you can set guidelines for tasks and materiality thresholds, saving time and assuring risks are managed before they arise.

Why You Need Trintech’s Financial Close Management Software

The financial close process is often stressful, even borderline chaotic, as companies struggle to meet the challenges and issues that can and do arise. Trintech’s Financial Close Management Software enable you to transcend those challenges and neutralize those issues, in the process providing much-needed light at the end of the financial close tunnel.

Trintech’s Financial Close Management Software enable you to overcome a myriad of common obstacles, including:

Issues with Data Accuracy

Few things will undermine the close process quite as completely as lingering doubts about the accuracy and integrity of the data involved. Having to resolve billing errors, data entry errors, bookkeeping discrepancies and system glitches can grind the entire process to a halt or, perhaps even worse, result in misreporting of financial information and mistakes on financial statements, with the end result being enormous pressure applied to your already stressed-out team. Trintech’s Financial Close Management Software will eliminate the manual work responsible for most of those errors and issues.

Looming Deadlines

More often than not, the financial close process involves hard and fast deadlines. Such time constraints, combined with peak workloads, increase everyone’s stress level and make costly errors more likely. In addition, working under duress in an attempt to meet a hard deadline can make it more difficult to effectively address unexpected issues when they arise. And for whatever reason, they always seem to. Trintech’s Financial Close Management Software help prevent many of the troublesome errors and issues that plague the closing process, thereby relieving pressure on your team and making it easier to improve overall employee engagement and morale and meet even the hardest deadlines.

Reconciliation Issues

Having to manually reconcile bank statements, invoices and general ledgers is a tedious, time-consuming process that requires laser focus. Even seemingly innocuous errors can take hours to track down and resolve. Hours that your highly paid staff could be using to concentrate on more important issues. Trintech’s Financial Close Management Software will relieve you of the need to dedicate so much time and energy to reconciliation issues. Not only that, but you can be reasonably certain of more accurate results.

Manual Processes

When a company’s financial close process is heavily reliant on staff members executing manual tasks, it is open to inexplicable delays and human errors. And if, by some chance, a key member of a given department has taken ill, well, problems just get compounded. The fact is that depending too heavily on humans to execute countless manual processes during the financial close period has always been a perilous practice. Thankfully, you no longer have to. Trintech’s Financial Close Management Software can help your SME automate most of your problematic manual processes and streamline your entire operation. 

Compliance

There are no cutting corners when it comes to compliance with applicable tax laws, accounting standards, reporting requirements and other crucial aspects of the financial close process. But it’s not just about being in tune with existing standards, laws and practices. Every member of your team must constantly adhere to your standardized processes and controls framework and upgrade their knowledge base to ensure continued compliance. Wouldn’t it be great if you had Financial Close Management Software that automated your compliance tasks and efforts? With Trintech’s Financial Close Management Software, that’s precisely what you get.

Poor Communication

People being people, communication can sometimes break down. When it does, a deadline looming can lead to expensive mistakes that bring the wrath of regulators down upon you. Even if you prioritize top-notch communication skills during the hiring process, there will still be times when the right foot doesn’t know what the left foot is doing.

In addition, coordinating closing efforts between various departments or geographic regions is a process that is often rife with inefficiencies as staff needs to double and triple-check to make sure they’re all on the same page. Trintech’s Financial Close Management Software allow you to eliminate most of these day-to-day breakdowns in communication, through increased visibility across the close process,  and put the wind back in your organizational sails.

The financial close process is complex enough without having to rely heavily on staff members to perform tasks that are better automated. Trintech’s Financial Close Management Software enable you to lift much of the onus of close task management off stressed-out employees and free them to concentrate on more important big-picture issues. 

Financial Close Management Software For Every Industry

For the first time you can’t just hire more people to solve the problem. You have to figure out how to solve the problem differently. That is where technology is going to have to be the saving grace as we rethink our approach to solving the talent gap.”

Darren Heffernan, CEO Trintech

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