Financial Close - The excellence barometer

[Former Member]

Hi Community,

Financial close is near and dear to the office of the CFO. Any improvement in this process is welcomed as moving closer to excellence in the finance department. I think that this is closely related to the one of the more impactial benefits of aiding the close process.

Simply put, improving the financial close frees up resources in the finance department. These resources can then be deployed to other 'excellence creating' activities.

Some sundry drivers on financial close, learnt from SAP's EPM enablement seminar are:

Improved control systems and

processes at lower cost

Greater quality and greater efficiency

Faster access to financial information

for decision making

More time for value add financial

analysis

Ability to respond to management

requests and support key initiatives

Marketing tool

Work-life balance for accounting

Hope this may encourage some debate or thinking at the very least :smile:

Devon Abraham

Follow @_Devon_Abraham