Face it, we live in an as-it-happens world. Yesterday’s news today is old news. Like it or not, the accounting function is in the news distribution business. The financial stories it publishes can significantly influence the decisions made by management. However, the accounting discipline doesn’t churn out information like mass media. The financial close process has long been one of the most challenging processes for a financial leader to manage, optimize, and control.
If the old ways are now less effective, then what ideas and technologies are replacing them? Industry leading finance teams are using the following three approaches for achieving a timelier, higher quality analysis and reporting paradigm. Let’s explore each of the three new approaches. #1 Close Faster to Enable Real-Time Reporting The faster close has
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