Three Good Reasons to Automate the Last Mile of Finance



Until recently, the prevailing sentiment among CFOs about the financial reporting process was "if it ain't broke, don't fix it." That process, often called the "last mile of finance," involves all the steps a publicly traded company must take to close its books each quarter, perform accounting reconciliations, prepare consolidated financial statements and publish official documents that explain performance results to the Securities and Exchange Commission (SEC) and the investing public. According to recent research by APQC, many companies are now looking at the last mile and concluding it's time for repairs. What has sparked this shift? There's not one big gorilla of a reason. Rather, three issues have converged to form a palpable argument for change.