Close-to-Disclose Top Performers: Reduced Cycle Times Increase Total Cost Savings

 

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According to APQC’s Open Standards Benchmarking in general accounting and reporting, the better performance in cycle time for the close-to-disclose process, the lower the total cost to perform financial reporting per $1,000 in revenue. Both quarterly and annual cycle time close-to-disclose top-performing organizations are able to report on their financial performance at a lower total cost than organizations that need a longer cycle time to close and disclose their books.

 

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