Tip Sheet

10 Financial Close Rules That Hurt The Office of Finance

Does your office of finance conduct the close process with error-prone spreadsheets? 88% of spreadsheets have errors that easily lead to a misstatement.

A general lack of visibility, bottlenecks in the workflow and a constant demand from executive management to close faster, all plague the typical close process. Often the result is to adopt a “why fix what’s not completely broken” attitude and throw their budget and efforts into handling the symptoms of a problem, instead of curing it at its source. The result? They have to deal with teams facing the same problems quarter after quarter, year after year, with the intensity of those problems increasing as the company grows in complexity. To help, we’ve made a list of 10 close rules that NEED to be broken to fix your financial close process.

Download File