Finance and Accountancy Briefing
FSR product review: Managing the financial close process
Most organizations manage financial consolidations, external reporting, XBRL publication, reconciliation management and continuous controls as separate, disjointed processes.
This isolated approach heavily relies on multiple proprietary applications, Microsoft® Excel® and numerous email messages - thereby increasing risk as handoffs between processes frequently involve re-keying of data. Without a centralized control for managing the whole financial close process, organisations face a number of challenges.
This article looks at how firms can collaborate on financial consolidations and reduce risk.
Download this article to find out how.
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