The financial close process is always a testing time for organizations—a chaotic rush to meet tight deadlines—and any errors that seep in will make it grind to a halt. The result? Neither the finance department nor executives have access to essential performance metrics as and when they need them.
Although financial close is a vital, non-negotiable business process, the number of manual steps created by various dependences exacerbates the challenge of completing efficiently and promptly, and even highly skilled staff cannot prevent all errors.
What many don't know is that a few practical changes to how ERP and other IT systems operate can shorten this process—without a major investment.
In a newly published report, Ventana Research outlines the gold standard that organizations should strive for—to complete financial close within a week—and how to set about meeting this standard.
Download the whitepaper to understand:
- How you can shorten your closes more easily
- The power of automation
- What to look for when selecting automation software
- The business case for automation