Accounting Closing, Consolidation and Reporting

The need for timely and accurate financial information is critical in today’s fast moving and highly competitive business environment. Accounting close and reporting processes are often identified by companies as pain points and impediments to growth and profitability. Leaders are pursuing opportunities to streamline processes, leverage technology and reduce risk in order to support their business goals and objectives.

Fast Track Assessment: Accounting Closing, Consolidation and Reporting

The goal is to maximize accuracy and efficiency while minimizing cycle time and cost. Focus on items that consume the most resources but do not significantly impact accuracy or timeliness. Financial close, consolidation and reporting are critical to a company’s success. Managing this process has become more important for CFOs. Effectively managing the process allows CFOs to meet management’s expectations, including:

• Meet reporting deadlines
• Close faster with fewer mistakes
• Save time and money because of increased efficiency and clear description of tasks
• Create intra-company cooperation
• Clearly define internal reporting and make support data readily available
• Audit without surprises
• Apply automated workflows

Benefits to Your Organization

In order for the accounting closing, consolidation and reporting process to positively impact your organization’s overall success, processes must be efficient, people must be appropriately trained, systems must be integrated and financial information must be available in a timely manner so strategic business decisions can be made. Our Fast Track Assessment will help you optimize your accounting closing, consolidation and reporting process by:

• Reducing closing time
• Providing access to timely information
• Eliminating redundant processes and controls
• Uncovering cost savings through increased workflow efficiency
• Improving reliability of interim financial reports
• Reducing mistakes and duplication of efforts

Our Approach

We evaluate the current closing processes and the related risks and controls, both in terms of effectiveness and efficiency. We provide a comprehensive analysis of improvement opportunities to introduce faster, more transparent and accurate closing processes.