Close Faster; Know Sooner
Our research found that more than half of all companies take longer than a business week to complete their accounting close. A fast close provides executives with financial and managerial analyses sooner so they can respond to opportunities and threats sooner with greater agility.
Financial performance management applies technology to the full cycle of departmental functions, including corporate and strategic finance, planning, forecasting, analysis, closing and reporting, facilitating more accessible predictive and prescriptive analytics and driving changes in the role and mission of the financial planning and analysis (FP&A) group.
71% of companies that use substantial automation complete their close in 6 days or less, compared to 43% that use some and 23% that use little or none.
Companies must apply continuous improvement techniques to identify issues with planning, budgeting and closing and quickly address their root cause.
Technology plays a key role enabling a fast close by supporting process, data and governance improvements. If you want to close sooner, we can advise you on how to achieve more in less time. We are vendor agnostic. Our guidance starts with your business objectives and connects them to the approach that best suits your needs.