Close

Issues can occur at any time during your period end – properly handle and document each one to ensure accuracy and compliance.

The average company performs over 470 journal entries, so it’s no surprise that there are often issues that pop up during the Close process. When issues inevitability occur, you must have a clear plan for how to handle each one effectively to avoid creating financial risk and compliance issues for your company. Leaving these decisions up to your team to make in the moment, when they’re most likely pressed for time and potentially overwhelmed with the amount of work yet to be done, is not a good plan of action.

Instead, you must identify a process for Close issue management. Trintech’s solutions for the financial Close provide documentation, workflow support, and tracking of issues through the resolution to ensure the accuracy and completeness of your financial statements.

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The solutions will help your finance team identify bottlenecks and communicate potential issues early and often, reducing the possibility of missed deadlines and ensuring the accuracy and completeness of your financial statements.

 

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Reduce Time to Close and Audit

With a clearly defined process, including how to manage issues during your period end, and strong transparency into the progress of each task, you will significantly reduce the time to Close through clear visibility into progress and problems, all while creating a detailed log of events for internal and external audits.

Accurate Financial Statements

Direct connection, through Trintech’s ERP connectors, to your existing ERP data coupled with an established process for managing and recording all the tasks associated with the Close process helps ensure accurate final reporting.

Regulatory and Corporate Compliance

Manage cross-organization compliance initiatives, including SOX, HIPAA, FERC/NERC, corporate social responsibility and more with dynamic scoping, scheduling, testing, and evaluation of your entire risk and control framework from documentation to certification.

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Related Case Study

Case Study

Western & Southern Financial

“Trintech’s solution is flexible enough to integrate with any of our systems,” said Jason Nickles, Director of Corporate Accounting, Western & Southern. “It doesn’t lock you in. The workflow has really taken our financial processes to the next level. I can push new instructions and feedback straight through the solutions to our end-users. Management can now monitor the status of our financial activities and communicate changes in priority in real…

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