When accountants are interspersed across multiple different locations, the likelihood that their close will be completed timely and accurately significantly decreases. Primarily, this is due to the tools used to complete the process. While spreadsheets are the most used means to complete the close process, they provide very little visibility and communication into the close cycle. Accounting teams need a solution that is flexible enough to accommodate their changing set of circumstances— a solution that allows CFOs and Controllers to track what their accountants are working on, what the completion status of those tasks are, and have access to documentation and commentary during the entire close cycle.
In a recent webinar, Adra surveyed top financial leaders to understand key challenges facing the office of finance.