Streamlining the Financial Close Process

Last updated:
February 27, 2014
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Many companies are looking at cloud and related technology to drive improvements in their accounting close and reporting effectiveness. However, technology in and of itself does not improve manual processes. If technology is implemented without the proper consideration for process and people, it can negatively impact accounting close and reporting effectiveness. It is important that organizations understand the five key challenges to improving their accounting close and financial reporting; define an optimized close; and understand how better to align processes and technology for the organization's financial close and reporting environment.