The Importance of Closing Quickly
Many CFOs and controllers find themselves in a bind. They look for ways to give the finance department a more strategic role in their company, yet they cannot provide the resources finance would need to be able to handle core functions quickly and efficiently. Our benchmark research “Trends in Developing the Fast, Clean Close” found that some companies are actually taking longer to close than they did at the time of our previous research on this topic. The close is taking longer for these companies because finance organiz¬ations have failed to automate as much of their closing process as possible and they are using inappropriate software to manage it.