3 Myths to Avoid When Selecting a Financial Close Automation Solution

Tip Sheet

Selecting the right financial close automation solution is crucial to your organization.

Your Office of Finance is vital to the health and growth of your organization. When it comes to choosing a financial close automation vendor, we know you have many options. This tip sheet is provided to help you discern fact from fiction as you complete your research.

As you evaluate financial close automation solutions, some vendors may try to sell you on statements that aren’t true, such as:

1. “You can still shorten your close while keeping your current tools and process.”

Just because you can keep your current tools and processes, doesn’t mean you should. Spreadsheets promote inefficient, lengthy manual processes that increase the organization’s overall risk.

2. “We can offer you more solutions, which is better for your organization.”

Though some financial close automation vendors might seem to offer more bells and whistles with a larger number of solutions to buy, Adra® by Trintech has much of the same capabilities embedded throughout the suite, which saves you time and money.

3. “Continuous accounting is more valuable for your Office of Finance than other approaches.”

Over the years, several topics and terms have created a buzz in the finance and accounting space, such as the term “continuous accounting.” Instead of performing continuous accounting over the entire period, Adra can automate and remove human intervention from some of those tasks.

Download this tip sheet to read these myths and learn why they can mislead your Office of Finance.