Automate the Close Cycle for Consistently Better Performance
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Organizations are coming to terms with the fact that manual processes, like spreadsheets, are becoming increasingly difficult to track, govern, and maintain. Finance and Accounting (F&A) teams are becoming tired of constantly tweaking old consolidation systems, or using spreadsheets to paper over the inadequacies of their organizational resource planning system’s consolidation process. To better help streamline and increase visibility across the financial close, financial automation software not only helps mitigate these challenges but also brings increased efficiency and standardization to the financial close.
Automation helps ensure that key tasks are completed, reviewed when needed, and approved by all those involved in the process. The process now saves time because of increased coordination and tracking, complete with reminders when tasks have been started or are overdue. Furthermore, team members can monitor progress and receive alerts when issues arise which allows for proactive problem-solving. With time saved, and communication enhanced, F&A teams can devote their time to higher-value activities, like increased analysis and reporting.
This White Paper by Ventana Research dives into various findings regarding how financial automation can give organizations consistently better performance and efficiency throughout the financial close. Fill out the form to download the insights today.