Any organization that has invested in an ERP, or any other external system, knows that tasks critical to the Record to Report process are taken outside and managed manually, increasing the risk across their financial close process. Staff spends significant amounts of time manually updating tasks, which quick introduces errors, such as incorrectly closing or even overlooking a task, into the process and its resulting financial data. Cadency’s Close Action Plan Router takes the stress out of the closing process by preventing these types of errors.
Siemen’s account reconciliation process was very decentralized amongst each of the company’s business units. Many locations relied on Excel and multiple shared directories to perform general ledger account reconciliation. Siemens wanted an efficient, automated solution that could integrate with their complex ERP environment to deliver best-in-class account reconciliation services to their various business units.View Customer
Over the last couple of years there has been one topic of discussion in the finance community that has been growing louder and louder: Robotic Process Automation. But what is RPA, how does it affect the close process, and how are other companies currently utilizing automation to transform their financial close?Read More