Close activities and period-end accounting processes were not built for today’s modern business economy. The traditional Record-to-Report process means waiting for the end of a period to have accurate and verified data. This prevents business decisions from being made with up-to-date information. In addition, the time spent reconciling and verifying data that has built up over the period leaves little time for accounting staff to do analysis and to examine trends and their business impact.
In 2016, technology and process improvements have combined to transform and modernize the way finance and accounting teams work. A new approach to Record-to-Report processes, called Continuous Accounting, represents a paradigm shift in accounting operations. Automation and controlled workflows now allow tasks typically performed during the period-end to instead be embedded within day-to-day activities, allowing the rigid accounting calendar to better align with actual business cycles.
Register for the Continuous Accounting Launch Event where we will discuss: