If you are involved in the month-end close process, then you know that it can be, hands down, one of the most time-consuming financial processes in the business.
Regardless of whether it’s easy to do or not, if you are in finance, a part of the executive team, or in the internal audit group, you have a responsibility to stand by the financials, and ensuring accounts are reconciled accurately is always priority one. But data integrity is a real issue. A recent study done by Adra Match found that 90% of financial professionals are under pressure to close the month faster, but only 28% trust their reported numbers. So we are essentially trying to speed up a process with numbers we just don’t trust. An even more disturbing outcome of this survey? 30% of executives trust the numbers they receive, yet only 15% of the finance staff trust those numbers they provide. Given that finance works more closely with the numbers, this only highlights that the data integrity issue is even more widespread than the senior execs may even
This ebook offers a unique perspective into the underlying causes that slow us down at monthend, and how you can transform this to increase confidence in numbers throughout the entire business. Simply speeding up the process isn’t going to give companies the results they need. It’s time to get aggressive with the month-end close process. The results are driving your business – good or bad.